Forbes J M & Co. LLP trimmed its stake in shares of Procter & Gamble Co (NYSE:PG) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 221,072 shares of the company’s stock after selling 804 shares during the quarter. Procter & Gamble comprises approximately 4.8% of Forbes J M & Co. LLP’s investment portfolio, making the stock its biggest position. Forbes J M & Co. LLP’s holdings in Procter & Gamble were worth $20,321,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in PG. Hills Bank & Trust Co. boosted its stake in shares of Procter & Gamble by 12.0% during the third quarter. Hills Bank & Trust Co. now owns 83,236 shares of the company’s stock worth $6,928,000 after buying an additional 8,934 shares during the period. First Hawaiian Bank acquired a new stake in Procter & Gamble in the third quarter valued at about $1,987,000. Baystate Wealth Management LLC lifted its position in Procter & Gamble by 7.8% in the third quarter. Baystate Wealth Management LLC now owns 8,656 shares of the company’s stock valued at $705,000 after purchasing an additional 625 shares during the period. Bainco International Investors lifted its position in Procter & Gamble by 2.6% in the third quarter. Bainco International Investors now owns 75,580 shares of the company’s stock valued at $6,294,000 after purchasing an additional 1,909 shares during the period. Finally, Ronna Sue Cohen lifted its position in Procter & Gamble by 4.2% in the third quarter. Ronna Sue Cohen now owns 31,655 shares of the company’s stock valued at $2,635,000 after purchasing an additional 1,279 shares during the period. 61.49% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on PG shares. Wells Fargo & Co reaffirmed a “hold” rating and issued a $91.00 target price on shares of Procter & Gamble in a report on Wednesday, January 23rd. UBS Group increased their target price on shares of Procter & Gamble to $102.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Credit Suisse Group initiated coverage on shares of Procter & Gamble in a report on Wednesday, March 6th. They issued a “neutral” rating and a $100.00 target price for the company. Barclays raised shares of Procter & Gamble from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $94.00 to $112.00 in a research note on Wednesday, April 24th. Finally, Goldman Sachs Group reissued a “neutral” rating and set a $95.00 price objective on shares of Procter & Gamble in a research note on Wednesday, January 23rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the stock. Procter & Gamble presently has an average rating of “Hold” and an average price target of $101.42.
In other Procter & Gamble news, insider Marylynn Fergusonmchugh sold 67,407 shares of Procter & Gamble stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $100.17, for a total value of $6,752,159.19. Following the transaction, the insider now owns 23,936 shares in the company, valued at approximately $2,397,669.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman David S. Taylor sold 23,045 shares of Procter & Gamble stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $107.95, for a total transaction of $2,487,707.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 350,089 shares of company stock worth $36,539,133. 1.84% of the stock is owned by company insiders.
NYSE PG traded up $0.35 during mid-day trading on Wednesday, reaching $106.72. 4,629,755 shares of the stock were exchanged, compared to its average volume of 8,463,806. Procter & Gamble Co has a 1-year low of $72.80 and a 1-year high of $108.68. The firm has a market cap of $270.88 billion, a P/E ratio of 25.29, a price-to-earnings-growth ratio of 3.46 and a beta of 0.39. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.60 and a current ratio of 0.79.
Procter & Gamble (NYSE:PG) last announced its earnings results on Tuesday, April 23rd. The company reported $1.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.02. Procter & Gamble had a net margin of 16.44% and a return on equity of 21.61%. The firm had revenue of $16.46 billion for the quarter, compared to analyst estimates of $16.37 billion. During the same quarter last year, the business earned $1.00 earnings per share. Procter & Gamble’s revenue was up 1.1% compared to the same quarter last year. As a group, equities analysts predict that Procter & Gamble Co will post 4.48 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Friday, April 19th were given a dividend of $0.7459 per share. The ex-dividend date was Wednesday, April 17th. This represents a $2.98 dividend on an annualized basis and a yield of 2.80%. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.72. Procter & Gamble’s dividend payout ratio (DPR) is 70.62%.
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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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