DORCHESTER WEALTH MANAGEMENT Co Has $2.69 Million Stock Holdings in Zoetis Inc. (NYSE:ZTS)

DORCHESTER WEALTH MANAGEMENT Co trimmed its holdings in shares of Zoetis Inc. (NYSE:ZTS) by 6.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 13,771 shares of the company’s stock after selling 875 shares during the period. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Zoetis were worth $2,691,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ZTS. Webster Bank N. A. raised its stake in shares of Zoetis by 89.1% in the first quarter. Webster Bank N. A. now owns 174 shares of the company’s stock valued at $29,000 after purchasing an additional 82 shares in the last quarter. Quarry LP lifted its holdings in shares of Zoetis by 273.2% during the second quarter. Quarry LP now owns 209 shares of the company’s stock valued at $36,000 after acquiring an additional 153 shares during the period. LRI Investments LLC bought a new position in Zoetis during the 1st quarter valued at about $43,000. Central Valley Advisors LLC bought a new position in shares of Zoetis in the second quarter valued at approximately $49,000. Finally, Future Financial Wealth Managment LLC bought a new position in Zoetis in the 1st quarter valued at $51,000. 92.80% of the stock is owned by institutional investors.

Zoetis Stock Down 2.7 %

Shares of NYSE:ZTS traded down $5.06 during trading on Thursday, hitting $183.93. 719,645 shares of the company’s stock traded hands, compared to its average volume of 2,499,206. The company has a current ratio of 3.45, a quick ratio of 2.09 and a debt-to-equity ratio of 1.32. The company has a 50-day moving average price of $189.23 and a 200-day moving average price of $177.58. Zoetis Inc. has a 52 week low of $144.80 and a 52 week high of $201.92. The company has a market cap of $83.33 billion, a price-to-earnings ratio of 36.98, a price-to-earnings-growth ratio of 2.94 and a beta of 0.89.

Zoetis (NYSE:ZTS) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.07. Zoetis had a net margin of 26.29% and a return on equity of 50.67%. The firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the previous year, the firm posted $1.41 earnings per share. The business’s revenue was up 8.3% on a year-over-year basis. As a group, research analysts forecast that Zoetis Inc. will post 5.83 EPS for the current fiscal year.

Zoetis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Thursday, October 31st will be paid a $0.432 dividend. This represents a $1.73 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Thursday, October 31st. Zoetis’s dividend payout ratio is 33.86%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Zoetis from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. boosted their target price on Zoetis from $225.00 to $230.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Argus upgraded Zoetis to a “strong-buy” rating in a report on Friday, August 9th. Stifel Nicolaus lifted their price objective on Zoetis from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, BTIG Research upped their target price on shares of Zoetis from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $221.44.

About Zoetis

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.