Axxcess Wealth Management LLC Acquires 628 Shares of Zoetis Inc. (NYSE:ZTS)

Axxcess Wealth Management LLC boosted its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 18.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,997 shares of the company’s stock after purchasing an additional 628 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Zoetis were worth $781,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. First Personal Financial Services purchased a new position in Zoetis during the 3rd quarter valued at approximately $33,000. Capital Performance Advisors LLP bought a new stake in Zoetis during the 3rd quarter valued at $33,000. Quarry LP raised its position in Zoetis by 273.2% during the 2nd quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after purchasing an additional 153 shares in the last quarter. LRI Investments LLC bought a new position in shares of Zoetis in the 1st quarter worth $43,000. Finally, Fortitude Family Office LLC increased its position in Zoetis by 1,387.5% during the 3rd quarter. Fortitude Family Office LLC now owns 238 shares of the company’s stock valued at $46,000 after buying an additional 222 shares in the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.

Zoetis Stock Performance

Shares of Zoetis stock opened at $173.95 on Wednesday. The firm has a market cap of $78.48 billion, a PE ratio of 32.70, a price-to-earnings-growth ratio of 2.71 and a beta of 0.90. Zoetis Inc. has a 1 year low of $144.80 and a 1 year high of $201.92. The firm’s 50-day simple moving average is $188.00 and its 200-day simple moving average is $179.93. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.09 and a current ratio of 3.69.

Zoetis (NYSE:ZTS) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.12. Zoetis had a return on equity of 51.98% and a net margin of 26.55%. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same period last year, the company posted $1.36 EPS. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. Equities analysts forecast that Zoetis Inc. will post 5.9 earnings per share for the current fiscal 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. This represents a $1.73 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, October 31st. Zoetis’s dividend payout ratio (DPR) is presently 32.33%.

Analysts Set New Price Targets

ZTS has been the topic of a number of recent research reports. BTIG Research upped their target price on Zoetis from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. increased their target price on Zoetis from $225.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Piper Sandler increased their target price on Zoetis from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Stifel Nicolaus increased their price target on Zoetis from $200.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Argus upgraded Zoetis to a “strong-buy” rating in a research report on Friday, August 9th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus 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.