Watch Point Trust Co lessened its stake in shares of Procter & Gamble Co (NYSE:PG) by 6.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,517 shares of the company’s stock after selling 2,235 shares during the period. Procter & Gamble comprises approximately 2.1% of Watch Point Trust Co’s investment portfolio, making the stock its 18th largest holding. Watch Point Trust Co’s holdings in Procter & Gamble were worth $3,921,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Procter & Gamble by 1.8% in the second quarter. Vanguard Group Inc. now owns 218,459,217 shares of the company’s stock valued at $23,954,054,000 after purchasing an additional 3,786,962 shares during the last quarter. BlackRock Inc. grew its position in shares of Procter & Gamble by 1.5% in the second quarter. BlackRock Inc. now owns 167,930,647 shares of the company’s stock valued at $18,413,594,000 after purchasing an additional 2,470,382 shares during the last quarter. Phocas Financial Corp. grew its position in shares of Procter & Gamble by 999,937.0% in the second quarter. Phocas Financial Corp. now owns 71,062,629 shares of the company’s stock valued at $77,920,000 after purchasing an additional 71,055,523 shares during the last quarter. Northern Trust Corp grew its position in shares of Procter & Gamble by 0.9% in the second quarter. Northern Trust Corp now owns 33,064,470 shares of the company’s stock valued at $3,625,519,000 after purchasing an additional 295,521 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its position in shares of Procter & Gamble by 6,899.0% in the second quarter. Nuveen Asset Management LLC now owns 18,416,894 shares of the company’s stock valued at $2,019,412,000 after purchasing an additional 18,153,758 shares during the last quarter. Institutional investors and hedge funds own 65.62% of the company’s stock.
Several research firms have recently commented on PG. Goldman Sachs Group reaffirmed a “buy” rating and issued a $136.00 target price on shares of Procter & Gamble in a research report on Wednesday, October 23rd. ValuEngine downgraded Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Wells Fargo & Co upped their target price on Procter & Gamble from $135.00 to $136.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their target price on Procter & Gamble from $136.00 to $139.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Credit Suisse Group upped their target price on Procter & Gamble from $108.00 to $117.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $116.71.
In other Procter & Gamble news, insider Carolyn M. Tastad sold 10,662 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $118.00, for a total value of $1,258,116.00. Following the sale, the insider now owns 61,225 shares of the company’s stock, valued at approximately $7,224,550. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Marc S. Pritchard sold 26,075 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider now directly owns 139,066 shares in the company, valued at approximately $17,377,687.36. The disclosure for this sale can be found here. Insiders have sold 1,645,966 shares of company stock worth $202,229,770 in the last three months. 1.75% of the stock is currently owned by company insiders.
NYSE:PG traded up $0.08 during trading hours on Friday, reaching $119.70. 4,181,176 shares of the company were exchanged, compared to its average volume of 7,798,948. The company has a market capitalization of $296.51 billion, a P/E ratio of 26.48, a P/E/G ratio of 3.23 and a beta of 0.42. Procter & Gamble Co has a 1-year low of $86.74 and a 1-year high of $125.77. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.72 and a quick ratio of 0.54. The business has a 50 day moving average of $121.95 and a 200 day moving average of $115.01.
Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.13. The business had revenue of $17.80 billion for 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 firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.12 earnings per share. As a group, equities research analysts anticipate that Procter & Gamble Co will post 4.93 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be given a dividend of $0.7459 per share. This represents a $2.98 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Thursday, October 17th. Procter & Gamble’s dividend payout ratio is currently 65.93%.
About Procter & Gamble
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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