Blue Chip Partners LLC Sells 17,787 Shares of Zoetis Inc. (NYSE:ZTS)

Blue Chip Partners LLC reduced its stake in shares of Zoetis Inc. (NYSE:ZTS) by 15.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 99,535 shares of the company’s stock after selling 17,787 shares during the quarter. Zoetis comprises about 1.4% of Blue Chip Partners LLC’s investment portfolio, making the stock its 26th biggest position. Blue Chip Partners LLC’s holdings in Zoetis were worth $16,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Atlantic Edge Private Wealth Management LLC raised its holdings in Zoetis by 482.8% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 169 shares of the company’s stock valued at $28,000 after buying an additional 140 shares during the period. Darwin Wealth Management LLC purchased a new position in shares of Zoetis during the 3rd quarter worth about $31,000. First Personal Financial Services bought a new position in Zoetis during the 3rd quarter valued at about $33,000. Capital Performance Advisors LLP purchased a new stake in Zoetis in the 3rd quarter worth about $33,000. Finally, Dunhill Financial LLC boosted its position in shares of Zoetis by 80.6% during the third quarter. Dunhill Financial LLC now owns 168 shares of the company’s stock valued at $33,000 after buying an additional 75 shares during the period. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Zoetis Trading Down 4.5 %

NYSE ZTS opened at $157.54 on Monday. The company has a fifty day simple moving average of $168.51 and a two-hundred day simple moving average of $178.78. The stock has a market cap of $71.08 billion, a P/E ratio of 29.61, a P/E/G ratio of 2.77 and a beta of 0.90. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $200.53.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.03. The firm had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. On average, analysts forecast that Zoetis Inc. will post 5.9 earnings per share for the current year.

Zoetis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, April 21st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Monday, April 21st. Zoetis’s dividend payout ratio is presently 37.59%.

Insider Buying and Selling

In other Zoetis news, EVP Roxanne Lagano sold 326 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $171.18, for a total transaction of $55,804.68. Following the completion of the transaction, the executive vice president now owns 16,107 shares of the company’s stock, valued at $2,757,196.26. This trade represents a 1.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ZTS. Leerink Partners started coverage on Zoetis in a report on Monday, December 2nd. They set an “outperform” rating and a $215.00 price objective for the company. Piper Sandler lowered their price target on Zoetis from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Morgan Stanley reduced their price objective on Zoetis from $243.00 to $238.00 and set an “overweight” rating on the stock in a report on Friday. UBS Group assumed coverage on Zoetis in a report on Monday, December 9th. They issued a “neutral” rating and a $196.00 target price for the company. Finally, Leerink Partnrs upgraded Zoetis to a “strong-buy” rating in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Zoetis currently has an average rating of “Buy” and a consensus target price of $214.90.

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.