Sweeney & Michel LLC acquired a new stake in shares of The Procter & Gamble Company (NYSE:PG – Free Report) in the first quarter, HoldingsChannel reports. The fund acquired 6,356 shares of the company’s stock, valued at approximately $918,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of PG. Moneta Group Investment Advisors LLC raised its stake in shares of Procter & Gamble by 96,526.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 38,535,557 shares of the company’s stock valued at $5,840,449,000 after purchasing an additional 38,495,676 shares in the last quarter. Norges Bank bought a new stake in shares of Procter & Gamble during the 4th quarter worth about $3,752,321,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Procter & Gamble by 42.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,386,838 shares of the company’s stock worth $3,626,080,000 after acquiring an additional 7,235,990 shares during the period. Morgan Stanley increased its stake in shares of Procter & Gamble by 12.6% during the fourth quarter. Morgan Stanley now owns 44,320,700 shares of the company’s stock valued at $6,717,246,000 after acquiring an additional 4,959,527 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in Procter & Gamble by 43.9% during the fourth quarter. Alliancebernstein L.P. now owns 9,462,510 shares of the company’s stock worth $1,434,138,000 after purchasing an additional 2,888,007 shares in the last quarter. Institutional investors and hedge funds own 63.43% of the company’s stock.
Analyst Ratings Changes
A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Procter & Gamble from $170.00 to $173.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. Bank of America boosted their price target on shares of Procter & Gamble from $170.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Stifel Nicolaus raised their price objective on shares of Procter & Gamble from $155.00 to $161.00 in a research report on Monday, July 31st. StockNews.com upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Finally, Wells Fargo & Company lifted their price target on shares of Procter & Gamble from $165.00 to $170.00 and gave the stock an “overweight” rating in a research report on Monday, July 31st. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $164.82.
Insider Activity at Procter & Gamble
In other news, CAO Matthew W. Janzaruk sold 33,022 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $156.26, for a total value of $5,160,017.72. Following the completion of the sale, the chief accounting officer now directly owns 888 shares in the company, valued at $138,758.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Procter & Gamble news, CAO Matthew W. Janzaruk sold 33,022 shares of Procter & Gamble stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $156.26, for a total value of $5,160,017.72. Following the transaction, the chief accounting officer now directly owns 888 shares of the company’s stock, valued at approximately $138,758.88. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Andre Schulten sold 806 shares of the stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $152.85, for a total transaction of $123,197.10. Following the completion of the sale, the chief financial officer now directly owns 28,373 shares of the company’s stock, valued at $4,336,813.05. The disclosure for this sale can be found here. In the last 90 days, insiders sold 106,607 shares of company stock valued at $16,523,793. Insiders own 0.17% of the company’s stock.
Procter & Gamble Stock Performance
PG stock opened at $153.09 on Thursday. The stock has a market cap of $360.88 billion, a P/E ratio of 25.95, a P/E/G ratio of 3.82 and a beta of 0.42. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.44 and a current ratio of 0.63. The firm has a 50 day simple moving average of $153.19 and a 200 day simple moving average of $150.04. The Procter & Gamble Company has a 52 week low of $122.18 and a 52 week high of $158.38.
Procter & Gamble (NYSE:PG – Get Free Report) last posted its quarterly earnings results on Friday, July 28th. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.32 by $0.05. The business had revenue of $20.60 billion for the quarter, compared to analysts’ expectations of $20.01 billion. Procter & Gamble had a net margin of 17.87% and a return on equity of 32.88%. Procter & Gamble’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.21 EPS. Research analysts anticipate that The Procter & Gamble Company will post 6.39 earnings per share for the current fiscal year.
Procter & Gamble Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Friday, July 21st were issued a dividend of $0.9407 per share. The ex-dividend date of this dividend was Thursday, July 20th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.46%. Procter & Gamble’s dividend payout ratio is currently 63.73%.
Procter & Gamble Company Profile
The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.
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