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

Alliancebernstein L.P. lessened its stake in shares of Zoetis Inc. (NYSE:ZTS) by 23.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 investment portfolio, making the stock its 21st largest position. Alliancebernstein L.P. owned 2.62% of Zoetis worth $1,924,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of the stock. Dunhill Financial LLC lifted its holdings in 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 raised its holdings in shares of Zoetis by 482.8% in 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 last quarter. Rakuten Securities Inc. lifted its position in Zoetis by 5,533.3% during the 4th quarter. Rakuten Securities Inc. now owns 169 shares of the company’s stock worth $28,000 after buying an additional 166 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in Zoetis during the 4th quarter worth about $44,000. Finally, Quarry LP increased its position in Zoetis by 45.9% in the 3rd quarter. Quarry LP now owns 305 shares of the company’s stock valued at $60,000 after acquiring an additional 96 shares in the last quarter. Institutional investors and hedge funds own 92.80% of the company’s stock.

Insider Activity

In related news, Director Willie M. Reed sold 1,210 shares of the business’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 transaction of $201,029.40. Following the transaction, the director now directly owns 11,245 shares of the company’s stock, valued at approximately $1,868,244.30. The trade was a 9.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Roxanne Lagano sold 326 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $171.18, for a total value of $55,804.68. Following the sale, the executive vice president now directly owns 16,107 shares of the company’s stock, valued at $2,757,196.26. This represents a 1.98 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,862 shares of company stock valued at $312,254. 0.16% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Morgan Stanley lowered their target price on Zoetis from $243.00 to $238.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Leerink Partners initiated coverage on shares of Zoetis in a report on Monday, December 2nd. They issued an “outperform” rating and a $215.00 target price on the stock. Leerink Partnrs raised shares of Zoetis to a “strong-buy” rating in a report on Monday, December 2nd. UBS Group assumed coverage on Zoetis in a research note on Monday, December 9th. They set a “neutral” rating and a $196.00 price objective on the stock. Finally, Barclays boosted their target price on Zoetis from $242.00 to $244.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Zoetis presently has a consensus rating of “Buy” and a consensus target price of $215.90.

Zoetis Price Performance

NYSE:ZTS opened at $163.03 on Monday. The stock’s 50-day simple moving average is $166.40 and its 200 day simple moving average is $174.44. Zoetis Inc. has a 52-week low of $144.80 and a 52-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 market cap of $73.00 billion, a P/E ratio of 29.80, a P/E/G ratio of 2.78 and a beta of 0.94.

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

Zoetis Announces Dividend

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

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.