Zoetis Inc. (NYSE:ZTS) Shares Sold by Convergence Financial LLC

Convergence Financial LLC cut its stake in Zoetis Inc. (NYSE:ZTS) by 3.3% during the 4th quarter, HoldingsChannel reports. The firm owned 1,884 shares of the company’s stock after selling 65 shares during the quarter. Convergence Financial LLC’s holdings in Zoetis were worth $307,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. AMF Tjanstepension AB boosted its stake in shares of Zoetis by 23.4% in the third quarter. AMF Tjanstepension AB now owns 105,376 shares of the company’s stock valued at $20,594,000 after purchasing an additional 20,001 shares during the period. Howard Capital Management Group LLC grew its stake in shares of Zoetis by 0.8% during the third quarter. Howard Capital Management Group LLC now owns 104,866 shares of the company’s stock valued at $20,489,000 after acquiring an additional 883 shares in the last quarter. Pallas Capital Advisors LLC increased its position in shares of Zoetis by 6.0% during the third quarter. Pallas Capital Advisors LLC now owns 7,934 shares of the company’s stock worth $1,440,000 after acquiring an additional 451 shares during the last quarter. Traynor Capital Management Inc. acquired a new position in shares of Zoetis in the third quarter worth about $201,000. Finally, Fortitude Family Office LLC boosted its holdings in Zoetis by 1,387.5% in the third quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock valued at $46,000 after purchasing an additional 222 shares during the last quarter. 92.80% of the stock is currently owned by hedge funds and other institutional investors.

Zoetis Stock Down 2.1 %

Shares of NYSE:ZTS opened at $164.99 on Thursday. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $200.53. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.08 and a current ratio of 1.75. The company has a market cap of $73.88 billion, a PE ratio of 30.16, a price-to-earnings-growth ratio of 2.78 and a beta of 0.90. The firm has a 50 day simple moving average of $166.22 and a 200 day simple moving average of $177.58.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data 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 company had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. As a group, research analysts expect that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, April 21st will be given a $0.50 dividend. The ex-dividend date is Monday, April 21st. This represents a $2.00 annualized dividend and a yield of 1.21%. Zoetis’s dividend payout ratio (DPR) is currently 36.56%.

Insider Buying and Selling

In other Zoetis news, EVP Roxanne Lagano sold 326 shares of the stock in a transaction on Tuesday, February 11th. The stock was 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 directly owns 16,107 shares in the company, valued at $2,757,196.26. This represents a 1.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.16% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ZTS has been the topic of a number of recent analyst reports. Leerink Partnrs raised Zoetis to a “strong-buy” rating in a research report on Monday, December 2nd. UBS Group assumed coverage on Zoetis in a report on Monday, December 9th. They issued a “neutral” rating and a $196.00 price objective for the company. Piper Sandler dropped their target price on shares of Zoetis from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Leerink Partners assumed coverage on Zoetis in a report on Monday, December 2nd. They issued an “outperform” rating and a $215.00 price target on the stock. Finally, StockNews.com cut Zoetis from a “buy” rating to a “hold” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Zoetis currently has a consensus rating of “Buy” and a consensus target price of $215.40.

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.