Patriot Wealth Management Inc. bought a new position in shares of Procter & Gamble Co (NYSE:PG) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 60,429 shares of the company’s stock, valued at approximately $5,552,000.
Several other large investors have also added to or reduced their stakes in the stock. Asset Planning Services Ltd. boosted its stake in Procter & Gamble by 0.4% during the second quarter. Asset Planning Services Ltd. now owns 1,191 shares of the company’s stock valued at $104,000 after buying an additional 5 shares during the last quarter. Harding Loevner LP bought a new position in Procter & Gamble during the second quarter valued at approximately $119,000. Kohmann Bosshard Financial Services LLC bought a new position in Procter & Gamble during the third quarter valued at approximately $125,000. Blume Capital Management Inc. boosted its stake in Procter & Gamble by 25.4% during the second quarter. Blume Capital Management Inc. now owns 1,482 shares of the company’s stock valued at $129,000 after buying an additional 300 shares during the last quarter. Finally, Litman Gregory Asset Management LLC bought a new stake in shares of Procter & Gamble in the 3rd quarter valued at approximately $173,000. Hedge funds and other institutional investors own 61.05% of the company’s stock.
In related news, insider Marylynn Fergusonmchugh sold 2,353 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $78.59, for a total transaction of $184,922.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Deborah P. Majoras sold 4,591 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $87.48, for a total value of $401,620.68. The disclosure for this sale can be found here. Insiders have sold a total of 114,011 shares of company stock valued at $9,710,976 over the last three months. 0.35% of the stock is owned by corporate insiders.
Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Tuesday, January 23rd. The company reported $1.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.05. Procter & Gamble had a return on equity of 20.66% and a net margin of 15.34%. The firm had revenue of $17.40 billion during the quarter, compared to analyst estimates of $17.39 billion. During the same period last year, the company earned $1.08 EPS. Procter & Gamble’s quarterly revenue was up 3.2% compared to the same quarter last year. analysts anticipate that Procter & Gamble Co will post 4.21 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Friday, January 19th were paid a dividend of $0.6896 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend was Thursday, January 18th. Procter & Gamble’s dividend payout ratio is currently 70.23%.
Several equities research analysts have recently issued reports on the company. Berenberg Bank assumed coverage on Procter & Gamble in a research note on Wednesday, February 28th. They issued a “sell” rating and a $78.50 price objective for the company. Vetr raised Procter & Gamble from a “buy” rating to a “strong-buy” rating and set a $96.92 price objective for the company in a research note on Thursday, February 1st. Morgan Stanley raised their price objective on Procter & Gamble from $90.00 to $92.00 and gave the company an “equal weight” rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. raised their price objective on Procter & Gamble from $90.00 to $98.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Finally, Stifel Nicolaus raised their price objective on Procter & Gamble from $87.00 to $88.00 and gave the company a “hold” rating in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $87.37.
TRADEMARK VIOLATION NOTICE: This piece of content was first reported by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of US and international copyright & trademark law. The original version of this piece of content can be read at https://www.americanbankingnews.com/2018/03/13/patriot-wealth-management-inc-invests-5-55-million-in-procter-gamble-co-pg.html.
About Procter & Gamble
The Procter & Gamble Company is focused on providing branded consumer packaged goods to the consumers across the world. The Company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care, and Baby, Feminine & Family Care. The Company sells its products in approximately 180 countries and territories primarily through mass merchandisers, grocery stores, membership club stores, drug stores, department stores, distributors, baby stores, specialty beauty stores, e-commerce, high-frequency stores and pharmacies.
Want to see what other hedge funds are holding PG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Procter & Gamble Co (NYSE:PG).
Receive News & Ratings for Procter & Gamble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Procter & Gamble and related companies with MarketBeat.com's FREE daily email newsletter.