Greatmark Investment Partners Inc. lessened its stake in Procter & Gamble Co (NYSE:PG) by 31.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,862 shares of the company’s stock after selling 5,530 shares during the period. Greatmark Investment Partners Inc.’s holdings in Procter & Gamble were worth $926,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Twin Tree Management LP bought a new position in Procter & Gamble during the 1st quarter worth about $144,000. Marshall & Sullivan Inc. WA bought a new position in Procter & Gamble during the 2nd quarter worth about $149,000. Clearwater Capital Advisors LLC bought a new position in Procter & Gamble during the 1st quarter worth about $154,000. Corbyn Investment Management Inc. MD bought a new position in Procter & Gamble during the 1st quarter worth about $157,000. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Procter & Gamble by 296.5% during the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,038 shares of the company’s stock worth $162,000 after acquiring an additional 1,524 shares in the last quarter. 58.54% of the stock is currently owned by institutional investors.
A number of analysts have recently weighed in on PG shares. ValuEngine upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Zacks Investment Research upgraded shares of Procter & Gamble from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Stifel Nicolaus restated a “hold” rating and issued a $87.00 price target on shares of Procter & Gamble in a report on Monday, October 22nd. Wells Fargo & Co raised their price target on shares of Procter & Gamble from $78.00 to $84.00 and gave the company a “market perform” rating in a report on Monday, October 22nd. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. upgraded shares of Procter & Gamble from a “neutral” rating to an “overweight” rating and set a $100.00 price target on the stock in a report on Friday, October 19th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $87.66.
PG stock opened at $89.59 on Friday. The company has a market capitalization of $224.85 billion, a P/E ratio of 21.23, a P/E/G ratio of 2.92 and a beta of 0.59. The company has a quick ratio of 0.62, a current ratio of 0.80 and a debt-to-equity ratio of 0.40. Procter & Gamble Co has a 52 week low of $70.73 and a 52 week high of $93.14.
Procter & Gamble (NYSE:PG) last released its earnings results on Friday, October 19th. The company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.03. The company had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.45 billion. Procter & Gamble had a net margin of 15.10% and a return on equity of 21.20%. Procter & Gamble’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the business earned $1.09 EPS. As a group, equities research analysts forecast that Procter & Gamble Co will post 4.41 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Friday, October 19th will be paid a $0.7172 dividend. This represents a $2.87 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend is Thursday, October 18th. Procter & Gamble’s dividend payout ratio (DPR) is presently 68.01%.
In related news, insider Deborah P. Majoras sold 11,097 shares of Procter & Gamble stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $83.53, for a total value of $926,932.41. Following the completion of the sale, the insider now directly owns 46,096 shares in the company, valued at approximately $3,850,398.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kathleen B. Fish sold 10,342 shares of Procter & Gamble stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $83.20, for a total transaction of $860,454.40. Following the completion of the sale, the insider now owns 16,382 shares of the company’s stock, valued at $1,362,982.40. The disclosure for this sale can be found here. Insiders sold a total of 83,640 shares of company stock valued at $6,947,345 over the last quarter. 1.84% of the stock is owned by company insiders.
Procter & Gamble Profile
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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