Azimuth Capital Investment Management LLC Has $8.53 Million Stake in Zoetis Inc. (NYSE:ZTS)

Posted by Defense World Staff on Jun 14th, 2023

Azimuth Capital Investment Management LLC trimmed its position in shares of Zoetis Inc. (NYSE:ZTS – Get Rating) by 3.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,210 shares of the company’s stock after selling 1,786 shares during the period. Azimuth Capital Investment Management LLC’s holdings in Zoetis were worth $8,531,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ZTS. Psagot Value Holdings Ltd. Israel acquired a new position in Zoetis during the third quarter worth $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in Zoetis by 430.8% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 138 shares of the company’s stock worth $26,000 after buying an additional 112 shares during the last quarter. Worth Asset Management LLC acquired a new position in Zoetis during the first quarter worth $26,000. EWG Elevate Inc. acquired a new position in Zoetis during the fourth quarter worth $27,000. Finally, IAG Wealth Partners LLC bought a new position in Zoetis during the fourth quarter worth $29,000. 90.23% of the stock is currently owned by institutional investors and hedge funds.

Zoetis Trading Up 0.3 %

Shares of Zoetis stock opened at $166.04 on Wednesday. The firm has a 50-day moving average of $173.64 and a 200-day moving average of $164.73. The stock has a market cap of $76.73 billion, a PE ratio of 37.48, a PEG ratio of 2.63 and a beta of 0.77. Zoetis Inc. has a 52-week low of $124.15 and a 52-week high of $187.82. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.94 and a current ratio of 3.27.

Zoetis (NYSE:ZTS – Get Rating) last posted its quarterly earnings results on Thursday, May 4th. The company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.04. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.02 billion. Zoetis had a return on equity of 50.26% and a net margin of 25.59%. Zoetis’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.32 earnings per share. As a group, sell-side analysts forecast that Zoetis Inc. will post 5.4 EPS for the current year.

Zoetis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, July 21st will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Thursday, July 20th. Zoetis’s dividend payout ratio (DPR) is presently 33.86%.

Analyst Upgrades and Downgrades

ZTS has been the subject of a number of research analyst reports. Piper Sandler reduced their price objective on shares of Zoetis from $220.00 to $210.00 in a research report on Monday, May 8th. StockNews.com initiated coverage on shares of Zoetis in a research report on Thursday, May 18th. They set a “buy” rating for the company. Barclays lifted their price objective on shares of Zoetis from $250.00 to $260.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 21st. Finally, Bank Of America (Bofa) lifted their price objective on shares of Zoetis from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, April 11th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Zoetis has an average rating of “Buy” and an average target price of $221.14.

Insider Activity at Zoetis

In related news, EVP Roxanne Lagano sold 4,338 shares of the business’s stock in a transaction dated Tuesday, April 18th. The stock was sold at an average price of $175.94, for a total value of $763,227.72. Following the completion of the transaction, the executive vice president now owns 26,357 shares of the company’s stock, valued at $4,637,250.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.15% of the stock is owned by insiders.

Zoetis Profile

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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 others; and companion animals comprising dogs, cats, and horses.