Arcadia Investment Management Corp MI lowered its holdings in Procter & Gamble Co (NYSE:PG) by 56.6% in the 4th quarter, HoldingsChannel reports. The fund owned 4,707 shares of the company’s stock after selling 6,140 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in Procter & Gamble were worth $432,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Beach Investment Management LLC. purchased a new position in shares of Procter & Gamble in the second quarter valued at $6,942,000. RiverPoint Capital Management LLC boosted its stake in Procter & Gamble by 1.1% during the 2nd quarter. RiverPoint Capital Management LLC now owns 296,885 shares of the company’s stock valued at $25,874,000 after acquiring an additional 3,286 shares during the last quarter. Alethea Capital Management LLC boosted its stake in Procter & Gamble by 6.2% during the 2nd quarter. Alethea Capital Management LLC now owns 6,000 shares of the company’s stock valued at $522,000 after acquiring an additional 350 shares during the last quarter. Ifrah Financial Services Inc. bought a new position in Procter & Gamble during the 2nd quarter valued at $249,000. Finally, Intersect Capital LLC boosted its stake in Procter & Gamble by 47.2% during the 2nd quarter. Intersect Capital LLC now owns 45,142 shares of the company’s stock valued at $3,934,000 after acquiring an additional 14,470 shares during the last quarter. 60.97% of the stock is owned by institutional investors.
Procter & Gamble stock opened at $78.27 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.79 and a current ratio of 0.94. Procter & Gamble Co has a 1 year low of $75.81 and a 1 year high of $94.67. The stock has a market capitalization of $197,041.67, a PE ratio of 19.97, a price-to-earnings-growth ratio of 2.45 and a beta of 0.57.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 20th will be given a $0.7172 dividend. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.69. This represents a $2.87 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Thursday, April 19th. Procter & Gamble’s dividend payout ratio (DPR) is presently 70.41%.
In related news, insider Marc S. Pritchard sold 46,842 shares of the stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $89.01, for a total value of $4,169,406.42. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Marylynn Fergusonmchugh sold 2,353 shares of the stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $78.59, for a total transaction of $184,922.27. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 114,011 shares of company stock worth $9,710,976. Insiders own 0.35% of the company’s stock.
A number of research analysts have commented on the stock. Zacks Investment Research downgraded shares of Procter & Gamble from a “hold” rating to a “sell” rating in a research note on Wednesday. Morgan Stanley reduced their price objective on shares of Procter & Gamble from $92.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 5th. Barclays set a $84.00 price objective on shares of Procter & Gamble and gave the company a “hold” rating in a research note on Thursday, March 15th. Berenberg Bank assumed coverage on shares of Procter & Gamble in a research note on Wednesday, February 28th. They set a “sell” rating and a $78.50 price objective on the stock. Finally, Vetr upgraded shares of Procter & Gamble from a “buy” rating to a “strong-buy” rating and set a $96.92 price objective on the stock in a research note on Thursday, February 1st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $86.07.
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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.
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