Belpointe Asset Management LLC boosted its holdings in Procter & Gamble Co (NYSE:PG) by 57.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,081 shares of the company’s stock after purchasing an additional 8,396 shares during the period. Belpointe Asset Management LLC’s holdings in Procter & Gamble were worth $1,921,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of the business. Jones Financial Companies Lllp grew its stake in Procter & Gamble by 1.1% during the 2nd quarter. Jones Financial Companies Lllp now owns 180,866 shares of the company’s stock worth $14,118,000 after buying an additional 1,930 shares during the last quarter. Whitener Capital Management Inc. grew its stake in Procter & Gamble by 4.4% during the 2nd quarter. Whitener Capital Management Inc. now owns 25,952 shares of the company’s stock worth $2,025,000 after buying an additional 1,084 shares during the last quarter. Miracle Mile Advisors LLC grew its stake in Procter & Gamble by 178.3% during the 2nd quarter. Miracle Mile Advisors LLC now owns 23,331 shares of the company’s stock worth $1,821,000 after buying an additional 14,948 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in Procter & Gamble by 3.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 14,414,335 shares of the company’s stock worth $1,125,183,000 after buying an additional 474,529 shares during the last quarter. Finally, Manchester Capital Management LLC grew its stake in Procter & Gamble by 11.6% during the 2nd quarter. Manchester Capital Management LLC now owns 16,282 shares of the company’s stock worth $1,271,000 after buying an additional 1,689 shares during the last quarter. 60.74% of the stock is owned by institutional investors and hedge funds.
In other news, Chairman David S. Taylor sold 30,000 shares of the stock in a transaction on Wednesday, February 13th. The stock was sold at an average price of $99.09, for a total value of $2,972,700.00. Following the completion of the transaction, the chairman now owns 223,849 shares of the company’s stock, valued at $22,181,197.41. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider R. Alexandra Keith sold 3,027 shares of the stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $98.57, for a total value of $298,371.39. The disclosure for this sale can be found here. In the last three months, insiders sold 2,270,496 shares of company stock valued at $224,931,027. Company insiders own 1.84% of the company’s stock.
A number of brokerages recently commented on PG. Macquarie set a $110.00 price objective on Procter & Gamble and gave the stock a “buy” rating in a research note on Tuesday, February 26th. Credit Suisse Group began coverage on Procter & Gamble in a research note on Wednesday, March 6th. They set a “neutral” rating and a $100.00 price objective for the company. Morgan Stanley upgraded Procter & Gamble from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $91.00 to $106.00 in a research note on Thursday, December 13th. Wells Fargo & Co restated a “hold” rating and set a $91.00 price objective on shares of Procter & Gamble in a research note on Wednesday, January 23rd. Finally, Berenberg Bank upgraded Procter & Gamble from a “sell” rating to a “hold” rating and upped their price objective for the stock from $86.00 to $92.00 in a research note on Thursday, January 24th. Thirteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Procter & Gamble has a consensus rating of “Hold” and an average price target of $96.21.
NYSE:PG opened at $102.44 on Friday. Procter & Gamble Co has a 1 year low of $70.73 and a 1 year high of $102.89. The firm has a market capitalization of $258.25 billion, a PE ratio of 24.27, a price-to-earnings-growth ratio of 3.26 and a beta of 0.38. The company has a quick ratio of 0.61, a current ratio of 0.78 and a debt-to-equity ratio of 0.40.
Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Wednesday, January 23rd. The company reported $1.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.04. Procter & Gamble had a return on equity of 21.41% and a net margin of 16.13%. The company had revenue of $17.44 billion during the quarter, compared to analysts’ expectations of $17.16 billion. During the same quarter in the prior year, the business posted $1.19 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, sell-side analysts predict that Procter & Gamble Co will post 4.46 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 15th. Stockholders of record on Friday, January 18th were paid a $0.7172 dividend. The ex-dividend date of this dividend was Thursday, January 17th. This represents a $2.87 annualized dividend and a dividend yield of 2.80%. Procter & Gamble’s payout ratio is 68.01%.
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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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