Eastern Bank Trims Holdings in Procter & Gamble Co (NYSE:PG)

Eastern Bank lessened its stake in shares of Procter & Gamble Co (NYSE:PG) by 0.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 233,767 shares of the company’s stock after selling 1,456 shares during the period. Procter & Gamble comprises approximately 1.5% of Eastern Bank’s investment portfolio, making the stock its 13th biggest holding. Eastern Bank’s holdings in Procter & Gamble were worth $21,268,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PG. RB Capital Management LLC raised its stake in Procter & Gamble by 0.3% in the first quarter. RB Capital Management LLC now owns 7,294 shares of the company’s stock worth $655,000 after buying an additional 20 shares in the last quarter. Investment Partners Ltd. OH ADV grew its holdings in Procter & Gamble by 3.6% in the first quarter. Investment Partners Ltd. OH ADV now owns 15,802 shares of the company’s stock worth $1,420,000 after purchasing an additional 545 shares during the last quarter. Thomaspartners Inc. grew its holdings in Procter & Gamble by 9.9% in the first quarter. Thomaspartners Inc. now owns 2,483,566 shares of the company’s stock worth $223,148,000 after purchasing an additional 224,714 shares during the last quarter. Karp Capital Management Corp purchased a new position in Procter & Gamble in the first quarter worth $126,275,000. Finally, Jaffetilchin Investment Partners LLC grew its holdings in Procter & Gamble by 18.0% in the first quarter. Jaffetilchin Investment Partners LLC now owns 4,619 shares of the company’s stock worth $415,000 after purchasing an additional 703 shares during the last quarter. 59.56% of the stock is owned by hedge funds and other institutional investors.

Procter & Gamble Co (NYSE:PG) opened at $89.61 on Friday. Procter & Gamble Co has a 1 year low of $83.37 and a 1 year high of $94.67. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.75 and a current ratio of 0.91. The firm has a market cap of $227,340.00, a PE ratio of 23.96, a P/E/G ratio of 2.88 and a beta of 0.67.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Friday, October 20th. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. Procter & Gamble had a net margin of 23.72% and a return on equity of 20.35%. The firm had revenue of $16.65 billion during the quarter, compared to the consensus estimate of $16.69 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. analysts forecast that Procter & Gamble Co will post 4.19 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 19th will be paid a dividend of $0.6896 per share. The ex-dividend date is Thursday, January 18th. This represents a $2.76 annualized dividend and a yield of 3.08%. Procter & Gamble’s dividend payout ratio is presently 73.80%.

PG has been the topic of several analyst reports. Jefferies Group reaffirmed a “buy” rating and issued a $104.00 price target (up from $103.00) on shares of Procter & Gamble in a report on Wednesday, September 20th. Deutsche Bank initiated coverage on shares of Procter & Gamble in a report on Wednesday, December 13th. They set a “buy” rating and a $101.00 price objective on the stock. Zacks Investment Research lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. Goldman Sachs Group reissued a “sell” rating on shares of Procter & Gamble in a report on Wednesday, October 4th. Finally, Vetr lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating and set a $90.38 price objective on the stock. in a report on Tuesday, November 7th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $89.31.

In related news, insider Marylynn Fergusonmchugh sold 2,856 shares of the stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $92.98, for a total transaction of $265,550.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider R. Alexandra Keith sold 1,298 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $89.11, for a total transaction of $115,664.78. Following the transaction, the insider now directly owns 20,135 shares of the company’s stock, valued at approximately $1,794,229.85. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,575 shares of company stock valued at $1,927,095. 0.35% of the stock is owned by corporate insiders.

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Procter & Gamble Company Profile

The Procter & Gamble Company is focused on providing branded consumer packaged goods to the consumers across the world. The Company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care, and Baby, Feminine & Family Care. The Company sells its products in approximately 180 countries and territories primarily through mass merchandisers, grocery stores, membership club stores, drug stores, department stores, distributors, baby stores, specialty beauty stores, e-commerce, high-frequency stores and pharmacies.

Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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