Mercer Global Advisors Inc. ADV lowered its stake in Zoetis Inc. (NYSE:ZTS) by 12.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,974 shares of the company’s stock after selling 3,421 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Zoetis were worth $3,775,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the stock. BlackRock Inc. increased its holdings in shares of Zoetis by 3.3% in the fourth quarter. BlackRock Inc. now owns 40,720,915 shares of the company’s stock valued at $6,739,311,000 after purchasing an additional 1,291,599 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of Zoetis by 7.1% in the first quarter. Alliancebernstein L.P. now owns 17,823,733 shares of the company’s stock valued at $2,806,882,000 after purchasing an additional 1,178,470 shares in the last quarter. FMR LLC increased its holdings in shares of Zoetis by 27.4% in the fourth quarter. FMR LLC now owns 14,036,704 shares of the company’s stock valued at $2,323,075,000 after purchasing an additional 3,017,046 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Zoetis by 0.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,149,759 shares of the company’s stock valued at $1,514,285,000 after purchasing an additional 29,465 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Zoetis in the fourth quarter valued at approximately $763,474,000. 90.21% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE ZTS opened at $182.10 on Friday. The stock’s fifty day moving average price is $170.37. The company has a market capitalization of $86.46 billion, a PE ratio of 49.08, a price-to-earnings-growth ratio of 3.05 and a beta of 0.64. Zoetis Inc. has a twelve month low of $130.40 and a twelve month high of $182.85. The company has a current ratio of 3.29, a quick ratio of 2.47 and a debt-to-equity ratio of 1.61.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 1st. Investors of record on Wednesday, July 21st will be given a $0.25 dividend. The ex-dividend date is Tuesday, July 20th. This represents a $1.00 annualized dividend and a yield of 0.55%. Zoetis’s dividend payout ratio is currently 25.97%.
In related news, EVP Robert Edward Kelly sold 2,055 shares of the business’s stock in a transaction on Thursday, April 1st. The shares were sold at an average price of $158.05, for a total value of $324,792.75. Also, EVP Heidi C. Chen sold 11,637 shares of the business’s stock in a transaction on Wednesday, April 21st. The shares were sold at an average price of $170.14, for a total transaction of $1,979,919.18. Following the completion of the sale, the executive vice president now directly owns 36,282 shares in the company, valued at $6,173,019.48. The disclosure for this sale can be found here. Insiders sold a total of 19,692 shares of company stock worth $3,319,012 over the last ninety days. 0.21% of the stock is currently owned by insiders.
A number of brokerages have issued reports on ZTS. Raymond James raised their price objective on shares of Zoetis from $166.00 to $192.00 and gave the company an “outperform” rating in a research note on Friday, May 7th. Bank of America raised shares of Zoetis from a “neutral” rating to a “buy” rating and set a $180.00 price objective on the stock in a research note on Monday, March 8th. Argus raised their price objective on shares of Zoetis from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, May 28th. Zacks Investment Research raised shares of Zoetis from a “hold” rating to a “buy” rating and set a $186.00 price objective on the stock in a research note on Tuesday, June 1st. Finally, Credit Suisse Group raised their price objective on shares of Zoetis from $197.00 to $203.00 in a research note on Wednesday, February 17th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $184.38.
Zoetis Inc discovers, develops, manufactures, and commercializes animal health medicines, vaccines, and diagnostic products in the United States and internationally. It commercializes products primarily across species, including livestock, such as cattle, swine, poultry, fish, and sheep; and companion animals comprising dogs, cats, and horses.
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