Thrive Wealth Management LLC Purchases 487 Shares of Zoetis Inc. (NYSE:ZTS)

Thrive Wealth Management LLC lifted its position in Zoetis Inc. (NYSE:ZTS) by 8.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,161 shares of the company’s stock after buying an additional 487 shares during the quarter. Thrive Wealth Management LLC’s holdings in Zoetis were worth $1,043,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Blue Bell Private Wealth Management LLC grew its holdings in shares of Zoetis by 222.5% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 129 shares of the company’s stock worth $25,000 after purchasing an additional 89 shares during the last quarter. Independence Bank of Kentucky grew its holdings in shares of Zoetis by 371.4% during the fourth quarter. Independence Bank of Kentucky now owns 165 shares of the company’s stock worth $33,000 after purchasing an additional 130 shares during the last quarter. Private Wealth Management Group LLC bought a new stake in shares of Zoetis during the fourth quarter worth $33,000. Ramirez Asset Management Inc. bought a new stake in shares of Zoetis during the third quarter worth $35,000. Finally, Gladius Capital Management LP bought a new stake in shares of Zoetis during the fourth quarter worth $40,000. Institutional investors own 92.80% of the company’s stock.

Zoetis Stock Down 0.5 %

Shares of NYSE:ZTS traded down $0.88 during trading on Friday, hitting $175.58. 146,086 shares of the company’s stock traded hands, compared to its average volume of 2,937,430. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The company has a current ratio of 3.33, a quick ratio of 1.94 and a debt-to-equity ratio of 1.30. The company has a market cap of $80.12 billion, a price-to-earnings ratio of 34.01, a price-to-earnings-growth ratio of 2.65 and a beta of 0.88. The company has a 50-day moving average price of $167.68 and a 200-day moving average price of $178.94.

Zoetis (NYSE:ZTS) last released its earnings results on Thursday, May 2nd. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.34 by $0.04. The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.14 billion. Zoetis had a return on equity of 50.34% and a net margin of 27.38%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.31 EPS. As a group, research analysts forecast that Zoetis Inc. will post 5.76 EPS for the current fiscal year.

Zoetis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, July 18th will be paid a $0.432 dividend. This represents a $1.73 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Thursday, July 18th. Zoetis’s payout ratio is 33.33%.

Insider Transactions at Zoetis

In other news, EVP Roxanne Lagano sold 923 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $151.17, for a total transaction of $139,529.91. Following the sale, the executive vice president now owns 14,800 shares in the company, valued at approximately $2,237,316. The sale 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.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ZTS. Barclays reduced their target price on shares of Zoetis from $260.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 23rd. HSBC reduced their price target on Zoetis from $230.00 to $225.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. The Goldman Sachs Group cut their target price on Zoetis from $223.00 to $196.00 and set a “buy” rating on the stock in a research note on Monday, May 6th. Stifel Nicolaus decreased their target price on Zoetis from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Finally, Piper Sandler restated an “overweight” rating and set a $195.00 target price (down from $220.00) on shares of Zoetis in a research report on Tuesday, April 16th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Zoetis currently has an average rating of “Buy” and an average price target of $211.75.

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.