Alliancebernstein L.P. Sells 3,579,168 Shares of Zoetis Inc. (NYSE:ZTS)

Alliancebernstein L.P. cut its stake in shares of Zoetis Inc. (NYSE:ZTS) by 23.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 11,809,360 shares of the company’s stock after selling 3,579,168 shares during the quarter. Zoetis accounts for about 0.7% of Alliancebernstein L.P.’s portfolio, making the stock its 21st largest position. Alliancebernstein L.P.’s holdings in Zoetis were worth $1,924,099,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of ZTS. Edmond DE Rothschild Holding S.A. boosted its stake in shares of Zoetis by 82.3% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 267,482 shares of the company’s stock valued at $43,581,000 after purchasing an additional 120,732 shares in the last quarter. Axiom Investors LLC DE raised its holdings in Zoetis by 11.9% in the 4th quarter. Axiom Investors LLC DE now owns 490,707 shares of the company’s stock valued at $79,951,000 after buying an additional 52,125 shares during the last quarter. AIA Group Ltd boosted its position in Zoetis by 25.7% during the 4th quarter. AIA Group Ltd now owns 24,367 shares of the company’s stock worth $3,970,000 after buying an additional 4,983 shares during the period. Wellington Management Group LLP grew its holdings in Zoetis by 78.5% during the 4th quarter. Wellington Management Group LLP now owns 6,958,543 shares of the company’s stock worth $1,133,755,000 after acquiring an additional 3,059,255 shares during the last quarter. Finally, Physician Wealth Advisors Inc. acquired a new position in Zoetis in the 4th quarter valued at approximately $97,000. Institutional investors and hedge funds own 92.80% of the company’s stock.

Insider Activity

In other Zoetis news, Director Willie M. Reed sold 1,210 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $166.14, for a total value of $201,029.40. Following the completion of the transaction, the director now directly owns 11,245 shares of the company’s stock, valued at $1,868,244.30. This trade represents a 9.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Roxanne Lagano sold 326 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $170.00, for a total transaction of $55,420.00. Following the transaction, the executive vice president now owns 15,781 shares of the company’s stock, valued at $2,682,770. This trade represents a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,862 shares of company stock worth $312,254 over the last ninety days. Company insiders own 0.16% of the company’s stock.

Zoetis Stock Performance

NYSE ZTS opened at $163.03 on Monday. The company’s 50 day moving average is $166.40 and its 200-day moving average is $174.44. The firm has a market cap of $73.00 billion, a P/E ratio of 29.80, a price-to-earnings-growth ratio of 2.78 and a beta of 0.94. Zoetis Inc. has a 12-month low of $144.80 and a 12-month high of $200.33. The company has a quick ratio of 1.08, a current ratio of 1.75 and a debt-to-equity ratio of 1.09.

Zoetis (NYSE:ZTS) last posted its earnings results on Thursday, February 13th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.03. The firm had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.30 billion. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. Sell-side analysts predict that Zoetis Inc. will post 6.07 earnings per share for the current year.

Zoetis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders 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 yield of 1.23%. The ex-dividend date of this dividend is Monday, April 21st. Zoetis’s payout ratio is presently 36.56%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Stifel Nicolaus cut their price target on shares of Zoetis from $210.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Morgan Stanley reduced their price target on Zoetis from $243.00 to $238.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Piper Sandler raised their price objective on Zoetis from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Barclays boosted their target price on shares of Zoetis from $242.00 to $244.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Finally, UBS Group assumed coverage on Zoetis in a report on Monday, December 9th. They set a “neutral” rating and a $196.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Zoetis currently has a consensus rating of “Buy” and an average price target of $215.90.

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.