Adell Harriman & Carpenter Inc. Invests $215,000 in Zoetis Inc. (NYSE:ZTS)

Adell Harriman & Carpenter Inc. acquired a new position in Zoetis Inc. (NYSE:ZTS) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 1,319 shares of the company’s stock, valued at approximately $215,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Atlantic Edge Private Wealth Management LLC grew its position in shares of Zoetis by 482.8% in the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 169 shares of the company’s stock worth $28,000 after buying an additional 140 shares during the last quarter. Darwin Wealth Management LLC purchased a new position in shares of Zoetis in the 3rd quarter worth approximately $31,000. First Personal Financial Services purchased a new position in shares of Zoetis in the 3rd quarter worth approximately $33,000. Capital Performance Advisors LLP purchased a new position in shares of Zoetis in the 3rd quarter worth approximately $33,000. Finally, Dunhill Financial LLC grew its position in shares of Zoetis by 80.6% in the 3rd quarter. Dunhill Financial LLC now owns 168 shares of the company’s stock worth $33,000 after buying an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Stifel Nicolaus dropped their target price on shares of Zoetis from $210.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Leerink Partnrs raised shares of Zoetis to a “strong-buy” rating in a research report on Monday, December 2nd. Morgan Stanley dropped their target price on shares of Zoetis from $243.00 to $238.00 and set an “overweight” rating on the stock in a research report on Friday. Leerink Partners assumed coverage on shares of Zoetis in a research report on Monday, December 2nd. They set an “outperform” rating and a $215.00 target price on the stock. Finally, Piper Sandler dropped their target price on shares of Zoetis from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. One analyst has rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $214.90.

Zoetis Stock Performance

Shares of NYSE ZTS opened at $157.54 on Friday. The company has a current ratio of 3.69, a quick ratio of 2.27 and a debt-to-equity ratio of 1.26. Zoetis Inc. has a 12 month low of $144.80 and a 12 month high of $200.53. The company has a 50 day simple moving average of $168.51 and a two-hundred day simple moving average of $178.81. The stock has a market cap of $71.07 billion, a price-to-earnings ratio of 29.61, a PEG ratio of 2.77 and a beta of 0.90.

Zoetis (NYSE:ZTS) last posted its earnings results on Thursday, February 13th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.03. Zoetis had a net margin of 26.55% and a return on equity of 51.98%. The firm had revenue of $2.32 billion during the quarter, compared to analysts’ expectations of $2.30 billion. As a group, analysts predict that Zoetis Inc. will post 5.9 earnings per share for the current year.

Zoetis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Monday, April 21st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Monday, April 21st. Zoetis’s dividend payout ratio is currently 36.56%.

Insider Activity at Zoetis

In related news, EVP Roxanne Lagano sold 326 shares of the business’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 completion of the transaction, the executive vice president now directly owns 16,107 shares in the company, valued at $2,757,196.26. The trade was a 1.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.16% of the company’s stock.

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.