Watch Point Trust Co raised its stake in shares of Procter & Gamble Co (NYSE:PG) by 12.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 24,498 shares of the company’s stock after purchasing an additional 2,724 shares during the period. Watch Point Trust Co’s holdings in Procter & Gamble were worth $1,913,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in PG. HC Financial Advisors Inc. acquired a new position in Procter & Gamble during the 4th quarter valued at $1,738,000. Banco de Sabadell S.A acquired a new position in Procter & Gamble during the 4th quarter valued at $2,179,000. OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in Procter & Gamble by 47.9% during the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 147,584 shares of the company’s stock valued at $13,560,000 after purchasing an additional 47,800 shares during the last quarter. Woodard & Co. Asset Management Group Inc. ADV acquired a new position in Procter & Gamble during the 4th quarter valued at $791,000. Finally, Sawtooth Solutions LLC raised its stake in Procter & Gamble by 57.9% during the 4th quarter. Sawtooth Solutions LLC now owns 17,491 shares of the company’s stock valued at $1,607,000 after purchasing an additional 6,415 shares during the last quarter. 58.36% of the stock is currently owned by institutional investors and hedge funds.
Shares of Procter & Gamble stock opened at $79.06 on Friday. The firm has a market capitalization of $209.82 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 2.68 and a beta of 0.59. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.66 and a current ratio of 0.83. Procter & Gamble Co has a 52-week low of $70.73 and a 52-week high of $93.51.
Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Tuesday, July 31st. The company reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.04. The firm had revenue of $16.50 billion for the quarter, compared to analyst estimates of $16.52 billion. Procter & Gamble had a net margin of 14.59% and a return on equity of 20.94%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 EPS. Analysts expect that Procter & Gamble Co will post 4.42 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Friday, October 19th will be issued a $0.7172 dividend. This represents a $2.87 annualized dividend and a dividend yield of 3.63%. The ex-dividend date is Thursday, October 18th. Procter & Gamble’s payout ratio is 68.01%.
In other news, insider Kathleen B. Fish sold 10,342 shares of the company’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $83.20, for a total value of $860,454.40. Following the sale, the insider now owns 16,382 shares of the company’s stock, valued at approximately $1,362,982.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Kathleen B. Fish sold 599 shares of the company’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $83.48, for a total transaction of $50,004.52. Following the completion of the sale, the insider now directly owns 38,655 shares in the company, valued at approximately $3,226,919.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,186 shares of company stock worth $12,080,849. 1.84% of the stock is owned by insiders.
PG has been the subject of several research analyst reports. Atlantic Securities initiated coverage on shares of Procter & Gamble in a research note on Thursday, September 20th. They set an “overweight” rating and a $94.00 target price for the company. Jefferies Financial Group cut shares of Procter & Gamble from a “buy” rating to a “hold” rating and set a $95.00 target price for the company. in a research note on Monday, July 9th. Deutsche Bank upped their target price on shares of Procter & Gamble from $84.00 to $85.00 and gave the company a “hold” rating in a research note on Thursday, August 16th. Zacks Investment Research lowered shares of Procter & Gamble from a “hold” rating to a “sell” rating in a report on Monday, June 25th. Finally, Morgan Stanley boosted their price target on shares of Procter & Gamble from $80.00 to $85.00 and gave the company a “hold” rating in a report on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $84.53.
About Procter & Gamble
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.
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