State of Alaska Department of Revenue Has $11.88 Million Holdings in Zoetis Inc. (NYSE:ZTS)

State of Alaska Department of Revenue decreased its position in shares of Zoetis Inc. (NYSE:ZTS) by 9.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,826 shares of the company’s stock after selling 6,420 shares during the quarter. State of Alaska Department of Revenue’s holdings in Zoetis were worth $11,883,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Kavar Capital Partners Group LLC bought a new stake in shares of Zoetis during the third quarter valued at approximately $1,074,000. Clear Harbor Asset Management LLC increased its holdings in shares of Zoetis by 2.0% during the third quarter. Clear Harbor Asset Management LLC now owns 26,329 shares of the company’s stock valued at $5,144,000 after acquiring an additional 513 shares in the last quarter. Modera Wealth Management LLC increased its holdings in shares of Zoetis by 20.6% during the third quarter. Modera Wealth Management LLC now owns 26,424 shares of the company’s stock valued at $5,163,000 after acquiring an additional 4,517 shares in the last quarter. First Bank & Trust increased its holdings in shares of Zoetis by 0.8% during the third quarter. First Bank & Trust now owns 10,002 shares of the company’s stock valued at $1,954,000 after acquiring an additional 83 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Zoetis by 1.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 248,877 shares of the company’s stock valued at $48,625,000 after acquiring an additional 3,364 shares in the last quarter. Institutional investors own 92.80% of the company’s stock.

Zoetis Stock Down 0.8 %

ZTS stock opened at $180.01 on Monday. The stock’s fifty day simple moving average is $189.10 and its two-hundred day simple moving average is $177.89. The company has a current ratio of 3.45, a quick ratio of 2.09 and a debt-to-equity ratio of 1.32. Zoetis Inc. has a 1-year low of $144.80 and a 1-year high of $201.92. The stock has a market cap of $81.55 billion, a P/E ratio of 35.23, a P/E/G ratio of 2.79 and a beta of 0.89.

Zoetis (NYSE:ZTS) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.07. Zoetis had a return on equity of 50.67% and a net margin of 26.29%. The business had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the previous year, the firm earned $1.41 earnings per share. The business’s revenue was up 8.3% on a year-over-year basis. Analysts expect that Zoetis Inc. will post 5.83 EPS for the current year.

Zoetis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Thursday, October 31st will be given a dividend of $0.432 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.73 dividend on an annualized basis and a dividend yield of 0.96%. Zoetis’s dividend payout ratio is presently 33.86%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ZTS shares. Piper Sandler boosted their price objective on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. upped their price target on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Argus upgraded Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Stifel Nicolaus upped their price target on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, BTIG Research upped their price target on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Zoetis presently has an average rating of “Buy” and an average target price 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.