Icon Wealth Advisors LLC Sells 17,648 Shares of Zoetis Inc. (NYSE:ZTS)

Icon Wealth Advisors LLC trimmed its position in shares of Zoetis Inc. (NYSE:ZTS) by 83.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,490 shares of the company’s stock after selling 17,648 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Zoetis were worth $682,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ZTS. Mizuho Securities USA LLC grew its stake in Zoetis by 13,726.9% in the third quarter. Mizuho Securities USA LLC now owns 4,865,000 shares of the company’s stock worth $950,524,000 after purchasing an additional 4,829,815 shares during the period. Sarasin & Partners LLP lifted its holdings in shares of Zoetis by 546.3% during the second quarter. Sarasin & Partners LLP now owns 2,253,590 shares of the company’s stock valued at $390,682,000 after purchasing an additional 1,904,899 shares during the last quarter. Swedbank AB bought a new stake in shares of Zoetis in the 1st quarter worth approximately $210,815,000. International Assets Investment Management LLC grew its stake in shares of Zoetis by 41,235.7% in the 3rd quarter. International Assets Investment Management LLC now owns 939,974 shares of the company’s stock worth $183,652,000 after buying an additional 937,700 shares during the last quarter. Finally, Marshall Wace LLP increased its position in Zoetis by 7,608.6% during the 2nd quarter. Marshall Wace LLP now owns 835,684 shares of the company’s stock valued at $144,874,000 after buying an additional 824,843 shares in the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Trading Up 0.1 %

ZTS stock opened at $176.96 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.69 and a quick ratio of 2.27. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $201.92. The business has a 50 day simple moving average of $185.62 and a two-hundred day simple moving average of $180.61. The company has a market capitalization of $79.84 billion, a price-to-earnings ratio of 33.26, a PEG ratio of 2.71 and a beta of 0.90.

Zoetis (NYSE:ZTS) last posted its earnings results on Monday, November 4th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.12. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. Zoetis’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the company posted $1.36 earnings per share. Research analysts anticipate that Zoetis Inc. will post 5.9 EPS for the current fiscal year.

Zoetis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Thursday, October 31st will be given a $0.432 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.98%. Zoetis’s dividend payout ratio is currently 32.52%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Piper Sandler boosted their target price on Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Argus raised Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. BTIG Research lifted their target price 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. JPMorgan Chase & Co. increased their price target on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Stifel Nicolaus upped their price objective on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $221.44.

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.