FineMark National Bank & Trust Reduces Stake in Zoetis Inc. (NYSE:ZTS)

FineMark National Bank & Trust lessened its position in shares of Zoetis Inc. (NYSE:ZTS) by 17.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,935 shares of the company’s stock after selling 631 shares during the quarter. FineMark National Bank & Trust’s holdings in Zoetis were worth $478,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ZTS. Dunhill Financial LLC increased its position in shares of Zoetis by 80.6% during the 3rd quarter. Dunhill Financial LLC now owns 168 shares of the company’s stock valued at $33,000 after purchasing an additional 75 shares during the last quarter. Atlantic Edge Private Wealth Management LLC grew its position in Zoetis by 482.8% during the fourth quarter. Atlantic Edge Private Wealth Management LLC now owns 169 shares of the company’s stock valued at $28,000 after buying an additional 140 shares during the period. Rakuten Securities Inc. increased its holdings in Zoetis by 5,533.3% during the fourth quarter. Rakuten Securities Inc. now owns 169 shares of the company’s stock valued at $28,000 after buying an additional 166 shares during the last quarter. Quarry LP raised its position in Zoetis by 45.9% in the third quarter. Quarry LP now owns 305 shares of the company’s stock worth $60,000 after acquiring an additional 96 shares during the period. Finally, Asset Planning Inc purchased a new position in shares of Zoetis during the 4th quarter worth $58,000. Institutional investors own 92.80% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on ZTS. UBS Group initiated coverage on Zoetis in a research note on Monday, December 9th. They issued a “neutral” rating and a $196.00 price objective for the company. Piper Sandler raised their price objective on Zoetis from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, February 27th. Barclays boosted their price objective on Zoetis from $242.00 to $244.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. StockNews.com raised shares of Zoetis from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Finally, Leerink Partnrs raised shares of Zoetis to a “strong-buy” rating in a report on Monday, December 2nd. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $215.90.

Insider Activity at Zoetis

In other news, Director Willie M. Reed sold 1,210 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $166.14, for a total value of $201,029.40. Following the completion of the sale, 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 transaction 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 Zoetis stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $171.18, for a total value of $55,804.68. Following the completion of the transaction, the executive vice president now owns 16,107 shares of the company’s stock, valued at approximately $2,757,196.26. This trade represents a 1.98 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,862 shares of company stock valued at $312,254. 0.16% of the stock is owned by corporate insiders.

Zoetis Stock Performance

ZTS opened at $162.56 on Thursday. The stock has a market capitalization of $72.79 billion, a price-to-earnings ratio of 29.72, a PEG ratio of 2.78 and a beta of 0.94. Zoetis Inc. has a fifty-two week low of $144.80 and a fifty-two week high of $200.33. 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 fifty day moving average of $166.55 and a 200 day moving average of $174.94.

Zoetis (NYSE:ZTS) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.03. The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.30 billion. Zoetis had a return on equity of 53.82% and a net margin of 26.86%. As a group, sell-side analysts forecast that Zoetis Inc. will post 6.07 earnings per share for the current fiscal year.

Zoetis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Monday, April 21st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, April 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.23%. Zoetis’s dividend payout ratio is currently 36.56%.

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.