Watch Point Trust Co cut its holdings in Procter & Gamble Co (NYSE:PG) by 6.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,517 shares of the company’s stock after selling 2,235 shares during the period. Procter & Gamble makes up approximately 2.1% of Watch Point Trust Co’s portfolio, making the stock its 18th biggest position. Watch Point Trust Co’s holdings in Procter & Gamble were worth $3,921,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of PG. Phocas Financial Corp. raised its position in shares of Procter & Gamble by 999,937.0% in the 2nd quarter. Phocas Financial Corp. now owns 71,062,629 shares of the company’s stock worth $779,000 after acquiring an additional 71,055,523 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of Procter & Gamble by 6,899.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 18,416,894 shares of the company’s stock worth $2,019,412,000 after acquiring an additional 18,153,758 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Procter & Gamble by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 218,459,217 shares of the company’s stock worth $23,954,054,000 after acquiring an additional 3,786,962 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Procter & Gamble by 49.8% in the 2nd quarter. AQR Capital Management LLC now owns 9,086,135 shares of the company’s stock worth $996,295,000 after acquiring an additional 3,019,494 shares in the last quarter. Finally, BlackRock Inc. grew its stake in shares of Procter & Gamble by 1.5% in the 2nd quarter. BlackRock Inc. now owns 167,930,647 shares of the company’s stock valued at $18,413,594,000 after buying an additional 2,470,382 shares during the period. 65.62% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently commented on PG. ValuEngine downgraded Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Macquarie raised their target price on Procter & Gamble from $132.00 to $138.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Wells Fargo & Co raised their target price on Procter & Gamble from $135.00 to $136.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada restated a “neutral” rating and issued a $89.00 target price on shares of Procter & Gamble in a research note on Tuesday, July 30th. Finally, Credit Suisse Group raised their target price on Procter & Gamble from $108.00 to $117.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $116.71.
Shares of PG traded up $0.08 during trading hours on Friday, hitting $119.70. The stock had a trading volume of 4,181,176 shares, compared to its average volume of 7,798,948. The firm has a market capitalization of $296.51 billion, a P/E ratio of 26.48, a price-to-earnings-growth ratio of 3.23 and a beta of 0.42. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.72 and a quick ratio of 0.54. Procter & Gamble Co has a 1-year low of $86.74 and a 1-year high of $125.77. The firm has a 50 day simple moving average of $121.95 and a 200-day simple moving average of $115.01.
Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Tuesday, October 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.13. The business had revenue of $17.80 billion during the quarter, compared to the consensus estimate of $17.43 billion. Procter & Gamble had a return on equity of 25.07% and a net margin of 6.24%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.12 EPS. Equities analysts predict that Procter & Gamble Co will post 4.93 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be paid a dividend of $0.7459 per share. The ex-dividend date of this dividend is Thursday, October 17th. This represents a $2.98 dividend on an annualized basis and a yield of 2.49%. Procter & Gamble’s dividend payout ratio (DPR) is currently 65.93%.
In other Procter & Gamble news, Director Nelson Peltz sold 206,967 shares of Procter & Gamble stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $124.40, for a total transaction of $25,746,694.80. Following the completion of the transaction, the director now owns 3,844 shares in the company, valued at approximately $478,193.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Marc S. Pritchard sold 26,075 shares of Procter & Gamble stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $124.96, for a total value of $3,258,332.00. Following the transaction, the insider now owns 139,066 shares of the company’s stock, valued at approximately $17,377,687.36. The disclosure for this sale can be found here. Insiders have sold a total of 1,645,966 shares of company stock valued at $202,229,770 in the last quarter. Company insiders own 1.75% of the company’s stock.
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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