Kovitz Investment Group Partners LLC decreased its holdings in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 15.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 19,979 shares of the company’s stock after selling 3,614 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Procter & Gamble were worth $3,032,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GW&K Investment Management LLC acquired a new stake in Procter & Gamble in the 1st quarter valued at approximately $28,000. Your Advocates Ltd. LLP lifted its stake in Procter & Gamble by 632.0% during the 2nd quarter. Your Advocates Ltd. LLP now owns 183 shares of the company’s stock worth $28,000 after acquiring an additional 158 shares in the last quarter. IAG Wealth Partners LLC lifted its stake in Procter & Gamble by 58.8% during the 1st quarter. IAG Wealth Partners LLC now owns 243 shares of the company’s stock worth $36,000 after acquiring an additional 90 shares in the last quarter. Ten Capital Wealth Advisors LLC boosted its holdings in Procter & Gamble by 325.8% during the 1st quarter. Ten Capital Wealth Advisors LLC now owns 264 shares of the company’s stock valued at $39,000 after acquiring an additional 202 shares during the period. Finally, Wunderlich Capital Managemnt acquired a new position in Procter & Gamble in the 2nd quarter valued at about $40,000. Hedge funds and other institutional investors own 63.43% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on PG. Wells Fargo & Company increased their price target on shares of Procter & Gamble from $160.00 to $162.00 and gave the stock an “overweight” rating in a research report on Thursday, October 19th. JPMorgan Chase & Co. decreased their price target on shares of Procter & Gamble from $172.00 to $169.00 and set an “overweight” rating for the company in a research report on Thursday, October 12th. William Blair initiated coverage on Procter & Gamble in a research note on Friday, September 8th. They issued a “market perform” rating on the stock. They noted that the move was a valuation call. HSBC began coverage on Procter & Gamble in a research note on Friday, September 22nd. They set a “buy” rating and a $179.00 target price for the company. Finally, Royal Bank of Canada increased their price target on Procter & Gamble from $165.00 to $167.00 and gave the company a “sector perform” rating in a research report on Monday, July 31st. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $163.84.
Read Our Latest Stock Report on PG
Procter & Gamble Stock Up 0.2 %
Shares of NYSE:PG opened at $150.35 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.48 and a debt-to-equity ratio of 0.51. The firm has a 50 day simple moving average of $149.46 and a 200-day simple moving average of $150.91. The company has a market capitalization of $354.36 billion, a PE ratio of 24.41, a P/E/G ratio of 3.11 and a beta of 0.47. The Procter & Gamble Company has a twelve month low of $135.83 and a twelve month high of $158.38.
Procter & Gamble (NYSE:PG – Get Free Report) last released its quarterly earnings data on Wednesday, October 18th. The company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.12. Procter & Gamble had a net margin of 18.30% and a return on equity of 33.49%. The company had revenue of $21.87 billion during the quarter, compared to the consensus estimate of $21.58 billion. During the same quarter in the prior year, the firm posted $1.57 earnings per share. Procter & Gamble’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, equities analysts predict that The Procter & Gamble Company will post 6.42 EPS for the current fiscal year.
Procter & Gamble Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 20th will be given a dividend of $0.9407 per share. This represents a $3.76 annualized dividend and a yield of 2.50%. The ex-dividend date is Thursday, October 19th. Procter & Gamble’s dividend payout ratio (DPR) is 61.04%.
Insider Buying and Selling at Procter & Gamble
In related news, CAO Matthew W. Janzaruk sold 188 shares of the company’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $148.52, for a total value of $27,921.76. Following the completion of the sale, the chief accounting officer now owns 626 shares in the company, valued at approximately $92,973.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Procter & Gamble news, insider Moses Victor Javier Aguilar sold 789 shares of Procter & Gamble stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $152.85, for a total value of $120,598.65. Following the transaction, the insider now directly owns 12,683 shares in the company, valued at approximately $1,938,596.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Matthew W. Janzaruk sold 188 shares of the stock in a transaction on Friday, October 20th. The stock was sold at an average price of $148.52, for a total value of $27,921.76. Following the sale, the chief accounting officer now directly owns 626 shares of the company’s stock, valued at $92,973.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 105,715 shares of company stock worth $16,025,205. 0.17% of the stock is owned by insiders.
Procter & Gamble 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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