Trust Asset Management LLC Sells 686 Shares of Zoetis Inc. (NYSE:ZTS)

Trust Asset Management LLC decreased its position in shares of Zoetis Inc. (NYSE:ZTS) by 12.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 4,777 shares of the company’s stock after selling 686 shares during the period. Trust Asset Management LLC’s holdings in Zoetis were worth $933,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ZTS. Cetera Investment Advisers lifted its position in Zoetis by 275.2% during the 1st quarter. Cetera Investment Advisers now owns 96,085 shares of the company’s stock valued at $16,259,000 after acquiring an additional 70,476 shares during the period. Simplify Asset Management Inc. purchased a new position in shares of Zoetis during the third quarter valued at approximately $11,684,000. Soltis Investment Advisors LLC bought a new stake in shares of Zoetis in the 1st quarter worth approximately $688,000. Bank Pictet & Cie Asia Ltd. grew its stake in shares of Zoetis by 41.0% in the 2nd quarter. Bank Pictet & Cie Asia Ltd. now owns 37,500 shares of the company’s stock worth $6,501,000 after buying an additional 10,900 shares during the last quarter. Finally, Swedbank AB increased its position in Zoetis by 56.2% during the 2nd quarter. Swedbank AB now owns 1,946,277 shares of the company’s stock valued at $337,407,000 after buying an additional 700,398 shares in the last quarter. Institutional investors own 92.80% of the company’s stock.

Zoetis Stock Performance

Zoetis stock traded up $0.73 during midday trading on Monday, reaching $177.69. 37,955 shares of the company traded hands, compared to its average volume of 2,531,349. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $201.92. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.69 and a quick ratio of 2.27. The business has a 50 day moving average of $185.62 and a two-hundred day moving average of $180.72. The firm has a market capitalization of $80.17 billion, a price-to-earnings ratio of 33.26, a price-to-earnings-growth ratio of 2.71 and a beta of 0.90.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.46 by $0.12. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.29 billion. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. Zoetis’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 earnings per share. As a group, research analysts predict that Zoetis Inc. will post 5.9 earnings per share for the current year.

Zoetis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors 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 annualized dividend and a yield of 0.97%. Zoetis’s dividend payout ratio (DPR) is 32.52%.

Analyst Ratings Changes

Several research firms have commented on ZTS. JPMorgan Chase & Co. boosted their target price on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Argus raised shares of Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Stifel Nicolaus raised their price objective on shares of Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. BTIG Research upped their target price on shares of Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Piper Sandler raised 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 analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $221.44.

Zoetis 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.