Summit X LLC Sells 84 Shares of Zoetis Inc. (NYSE:ZTS)

Summit X LLC lessened its position in shares of Zoetis Inc. (NYSE:ZTS) by 2.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,207 shares of the company’s stock after selling 84 shares during the quarter. Summit X LLC’s holdings in Zoetis were worth $552,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ZTS. Evermay Wealth Management LLC increased its holdings in shares of Zoetis by 439.3% during the first quarter. Evermay Wealth Management LLC now owns 151 shares of the company’s stock valued at $25,000 after acquiring an additional 123 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in Zoetis by 430.8% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 138 shares of the company’s stock valued at $26,000 after purchasing an additional 112 shares in the last quarter. Worth Asset Management LLC purchased a new position in shares of Zoetis in the first quarter worth $26,000. Pacifica Partners Inc. lifted its stake in shares of Zoetis by 76.9% during the second quarter. Pacifica Partners Inc. now owns 161 shares of the company’s stock worth $27,000 after buying an additional 70 shares during the period. Finally, Altshuler Shaham Ltd purchased a new stake in shares of Zoetis during the second quarter valued at $29,000. Hedge funds and other institutional investors own 89.47% of the company’s stock.

Insider Buying and Selling at Zoetis

In other news, EVP Roxanne Lagano sold 923 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $192.97, for a total transaction of $178,111.31. Following the sale, the executive vice president now directly owns 25,434 shares of the company’s stock, valued at approximately $4,907,998.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Heidi C. Chen sold 9,905 shares of Zoetis stock in a transaction on Friday, September 15th. The shares were sold at an average price of $180.15, for a total value of $1,784,385.75. Following the sale, the executive vice president now owns 27,478 shares of the company’s stock, valued at approximately $4,950,161.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Roxanne Lagano sold 923 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $192.97, for a total transaction of $178,111.31. Following the completion of the sale, the executive vice president now directly owns 25,434 shares of the company’s stock, valued at approximately $4,907,998.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,674 shares of company stock valued at $4,627,465. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on ZTS. Stifel Nicolaus lowered their price target on Zoetis from $205.00 to $195.00 and set a “buy” rating for the company in a research report on Monday, October 30th. The Goldman Sachs Group upped their target price on Zoetis from $204.00 to $213.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. StockNews.com cut shares of Zoetis from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 8th. Piper Sandler upped their price objective on shares of Zoetis from $210.00 to $215.00 and gave the company an “overweight” rating in a report on Monday, November 6th. Finally, Argus raised their target price on shares of Zoetis from $190.00 to $201.00 in a report on Tuesday, September 19th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Zoetis currently has an average rating of “Buy” and a consensus price target of $220.25.

Zoetis Price Performance

Shares of NYSE ZTS opened at $172.60 on Wednesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 3.87 and a quick ratio of 2.16. The firm’s 50 day simple moving average is $172.54 and its 200-day simple moving average is $175.71. Zoetis Inc. has a 12 month low of $140.76 and a 12 month high of $194.99. The stock has a market capitalization of $79.24 billion, a price-to-earnings ratio of 35.08, a PEG ratio of 2.72 and a beta of 0.83.

Zoetis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 1st will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $1.50 annualized dividend and a yield of 0.87%. Zoetis’s dividend payout ratio is presently 30.49%.

Zoetis Company Profile

Zoetis Inc discovers, develops, manufactures, and commercializes animal health medicines, vaccines, and diagnostic products in the United States and internationally. It 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.