Zoetis Inc. (NYSE:ZTS) Shares Sold by Outlook Wealth Advisors LLC

Outlook Wealth Advisors LLC reduced its stake in Zoetis Inc. (NYSE:ZTS) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,218 shares of the company’s stock after selling 66 shares during the period. Outlook Wealth Advisors LLC’s holdings in Zoetis were worth $629,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Asset Dedication LLC grew its stake in shares of Zoetis by 4.8% during the second quarter. Asset Dedication LLC now owns 1,174 shares of the company’s stock valued at $204,000 after acquiring an additional 54 shares in the last quarter. Forza Wealth Management LLC grew its stake in shares of Zoetis by 1.8% during the second quarter. Forza Wealth Management LLC now owns 3,313 shares of the company’s stock valued at $574,000 after acquiring an additional 58 shares in the last quarter. Cherry Creek Investment Advisors Inc. grew its stake in shares of Zoetis by 2.0% during the third quarter. Cherry Creek Investment Advisors Inc. now owns 3,021 shares of the company’s stock valued at $590,000 after acquiring an additional 58 shares in the last quarter. L. Roy Papp & Associates LLP grew its stake in shares of Zoetis by 2.8% during the second quarter. L. Roy Papp & Associates LLP now owns 2,221 shares of the company’s stock valued at $385,000 after acquiring an additional 60 shares in the last quarter. Finally, Grove Bank & Trust grew its stake in shares of Zoetis by 0.5% during the third quarter. Grove Bank & Trust now owns 11,763 shares of the company’s stock valued at $2,298,000 after acquiring an additional 61 shares in the last quarter. 92.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Zoetis Stock Performance

Shares of NYSE ZTS opened at $180.01 on Friday. The company has a quick ratio of 2.09, a current ratio of 3.45 and a debt-to-equity ratio of 1.32. The firm’s 50-day moving average price is $189.18 and its two-hundred day moving average price is $177.61. Zoetis Inc. has a 52-week low of $144.80 and a 52-week high of $201.92. The stock has a market capitalization of $82.14 billion, a P/E ratio of 34.68, a P/E/G ratio of 2.94 and a beta of 0.89.

Zoetis (NYSE:ZTS) last issued its earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.07. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The firm had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter last year, the company posted $1.41 earnings per share. Zoetis’s revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts forecast that Zoetis Inc. will post 5.83 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. Shareholders of record on Thursday, October 31st will be issued a $0.432 dividend. The ex-dividend date 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%.

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.