Parsec Financial Management Inc. raised its stake in shares of Procter & Gamble Co (NYSE:PG) by 3.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,020 shares of the company’s stock after purchasing an additional 1,481 shares during the period. Parsec Financial Management Inc.’s holdings in Procter & Gamble were worth $5,156,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. SeaBridge Investment Advisors LLC acquired a new stake in shares of Procter & Gamble in the fourth quarter worth $36,000. Smart Portfolios LLC boosted its stake in Procter & Gamble by 48.0% during the fourth quarter. Smart Portfolios LLC now owns 450 shares of the company’s stock worth $41,000 after buying an additional 146 shares in the last quarter. Intercontinental Wealth Advisors LLC acquired a new stake in Procter & Gamble during the fourth quarter worth $62,000. Stevens First Principles Investment Advisors boosted its stake in Procter & Gamble by 239.8% during the fourth quarter. Stevens First Principles Investment Advisors now owns 683 shares of the company’s stock worth $63,000 after buying an additional 482 shares in the last quarter. Finally, Advocacy Wealth Management Services LLC boosted its stake in Procter & Gamble by 301.3% during the second quarter. Advocacy Wealth Management Services LLC now owns 602 shares of the company’s stock worth $66,000 after buying an additional 452 shares in the last quarter. Institutional investors own 62.17% of the company’s stock.
Shares of NYSE PG traded down $0.29 during midday trading on Friday, reaching $116.44. 12,265,590 shares of the company traded hands, compared to its average volume of 7,368,813. The firm has a market capitalization of $296.08 billion, a price-to-earnings ratio of 25.76, a PEG ratio of 3.54 and a beta of 0.45. The business’s 50-day moving average price is $113.31. Procter & Gamble Co has a 12 month low of $78.49 and a 12 month high of $121.76. The company has a current ratio of 0.75, a quick ratio of 0.60 and a debt-to-equity ratio of 0.43.
Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.04. The company had revenue of $17.09 billion during the quarter, compared to analysts’ expectations of $16.86 billion. Procter & Gamble had a return on equity of 22.92% and a net margin of 5.76%. The business’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the business earned $0.94 earnings per share. Equities analysts expect that Procter & Gamble Co will post 4.84 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Friday, July 19th will be issued a $0.7459 dividend. The ex-dividend date is Thursday, July 18th. This represents a $2.98 dividend on an annualized basis and a dividend yield of 2.56%. Procter & Gamble’s dividend payout ratio is 65.93%.
In related news, insider Mary Theresa Grabowski sold 5,200 shares of Procter & Gamble stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $119.10, for a total value of $619,320.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Valarie L. Sheppard sold 17,000 shares of Procter & Gamble stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $120.20, for a total value of $2,043,400.00. The disclosure for this sale can be found here. Insiders sold 247,335 shares of company stock valued at $26,476,375 over the last ninety days. 1.84% of the stock is currently owned by company insiders.
A number of research firms have weighed in on PG. Deutsche Bank lifted their price target on shares of Procter & Gamble from $106.00 to $109.00 and gave the stock a “hold” rating in a research note on Monday, June 17th. UBS Group set a $122.00 price target on shares of Procter & Gamble and gave the stock a “hold” rating in a research note on Wednesday. DZ Bank reiterated a “sell” rating on shares of Procter & Gamble in a research note on Wednesday, April 24th. Scotiabank reiterated a “buy” rating on shares of Procter & Gamble in a research note on Friday, July 5th. Finally, Stifel Nicolaus set a $117.00 price target on shares of Procter & Gamble and gave the stock a “hold” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $108.15.
Procter & Gamble Company 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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