Newport Wealth Strategies Inc. lessened its holdings in Procter & Gamble Co (NYSE:PG) by 33.0% during the 2nd quarter, Holdings Channel reports. The firm owned 3,225 shares of the company’s stock after selling 1,585 shares during the period. Newport Wealth Strategies Inc.’s holdings in Procter & Gamble were worth $252,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of PG. Twin Tree Management LP acquired a new stake in shares of Procter & Gamble in the 1st quarter valued at approximately $144,000. Marshall & Sullivan Inc. WA acquired a new stake in Procter & Gamble during the 2nd quarter worth approximately $149,000. Clearwater Capital Advisors LLC acquired a new stake in Procter & Gamble during the 1st quarter worth approximately $154,000. Corbyn Investment Management Inc. MD acquired a new stake in Procter & Gamble during the 1st quarter worth approximately $157,000. Finally, Barrow Hanley Mewhinney & Strauss LLC raised 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 buying an additional 1,524 shares during the period. 58.54% of the stock is currently owned by institutional investors.
NYSE:PG opened at $91.51 on Wednesday. Procter & Gamble Co has a 1-year low of $70.73 and a 1-year high of $93.14. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.80 and a quick ratio of 0.62. The firm has a market capitalization of $226.41 billion, a P/E ratio of 21.68, a PEG ratio of 2.95 and a beta of 0.37.
Procter & Gamble (NYSE:PG) last released its earnings results on Friday, October 19th. The company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.03. Procter & Gamble had a net margin of 15.10% and a return on equity of 21.20%. The business had revenue of $16.69 billion during the quarter, compared to analysts’ expectations of $16.45 billion. During the same period last year, the business earned $1.09 earnings per share. The firm’s revenue was up .2% on a year-over-year basis. As a group, sell-side analysts anticipate that Procter & Gamble Co will post 4.41 EPS for the current year.
The company 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. The ex-dividend date is Thursday, October 18th. This represents a $2.87 annualized dividend and a dividend yield of 3.13%. Procter & Gamble’s dividend payout ratio is presently 68.01%.
In related news, insider Kathleen B. Fish sold 599 shares of the firm’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $83.48, for a total value of $50,004.52. Following the completion of the transaction, the insider now directly owns 38,655 shares of the company’s stock, valued at $3,226,919.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider R. Alexandra Keith sold 1,463 shares of the firm’s stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $89.89, for a total transaction of $131,509.07. Following the completion of the transaction, the insider now directly owns 45,018 shares of the company’s stock, valued at $4,046,668.02. The disclosure for this sale can be found here. Insiders sold 73,477 shares of company stock valued at $6,125,522 over the last three months. 1.84% of the stock is owned by company insiders.
Several brokerages have commented on PG. Bank of America raised their target price on shares of Procter & Gamble from $92.00 to $95.00 and gave the stock a “neutral” rating in a report on Tuesday. 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 set a $87.00 target price on shares of Procter & Gamble in a report on Monday, October 22nd. Finally, Wells Fargo & Co raised their target price on shares of Procter & Gamble from $78.00 to $84.00 and gave the stock a “market perform” rating in a report on Monday, October 22nd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $88.00.
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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.
See Also: Dividend Aristocrat Index
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