Trueblood Wealth Management LLC Buys 530 Shares of Zoetis Inc. (NYSE:ZTS)

Trueblood Wealth Management LLC increased its position in Zoetis Inc. (NYSE:ZTS) by 14.7% during the 3rd quarter, Holdings Channel reports. The firm owned 4,127 shares of the company’s stock after acquiring an additional 530 shares during the quarter. Trueblood Wealth Management LLC’s holdings in Zoetis were worth $806,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Webster Bank N. A. grew its position in shares of Zoetis by 89.1% during the 1st quarter. Webster Bank N. A. now owns 174 shares of the company’s stock worth $29,000 after buying an additional 82 shares in the last quarter. Quarry LP lifted its stake in Zoetis by 273.2% in the second quarter. Quarry LP now owns 209 shares of the company’s stock worth $36,000 after acquiring an additional 153 shares during the period. LRI Investments LLC bought a new position in Zoetis during the 1st quarter worth about $43,000. Central Valley Advisors LLC purchased a new position in Zoetis during the 2nd quarter valued at about $49,000. Finally, EdgeRock Capital LLC bought a new stake in shares of Zoetis in the 2nd quarter valued at about $56,000. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Zoetis Price Performance

Shares of ZTS stock opened at $180.01 on Friday. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $201.92. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.09 and a current ratio of 3.45. The firm has a market capitalization of $82.14 billion, a price-to-earnings ratio of 34.68, a PEG ratio of 2.94 and a beta of 0.89. The stock’s 50-day simple moving average is $189.18 and its 200-day simple moving average is $177.61.

Zoetis (NYSE:ZTS) last released its earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.07. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.31 billion. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. Zoetis’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.41 EPS. As a group, equities analysts forecast that Zoetis Inc. will post 5.83 earnings per share for the current fiscal year.

Zoetis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be given a dividend of $0.432 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a yield of 0.96%. Zoetis’s dividend payout ratio is currently 33.14%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Argus upgraded shares of Zoetis to a “strong-buy” rating in a research note on Friday, August 9th. BTIG Research increased their target price on Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Stifel Nicolaus boosted their price target on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. JPMorgan Chase & Co. raised their price objective on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Finally, Piper Sandler increased their price target on shares of Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $221.44.

Zoetis Company Profile

Zoetis Inc engages in the discovery, development, manufacture, and commercialization of animal health medicines, vaccines, and diagnostic products and services in the United States and internationally. The company commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep and others; and companion animals comprising dogs, cats, and horses.