Welch & Forbes LLC Has $101.44 Million Stake in Procter & Gamble Co (NYSE:PG)

Welch & Forbes LLC cut its stake in Procter & Gamble Co (NYSE:PG) by 0.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 815,564 shares of the company’s stock after selling 6,620 shares during the quarter. Procter & Gamble comprises about 2.4% of Welch & Forbes LLC’s holdings, making the stock its 7th biggest holding. Welch & Forbes LLC’s holdings in Procter & Gamble were worth $101,440,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of PG. Krane Funds Advisors LLC purchased a new stake in shares of Procter & Gamble in the 2nd quarter worth about $25,000. Camarda Financial Advisors LLC grew its position in shares of Procter & Gamble by 59.2% in the 2nd quarter. Camarda Financial Advisors LLC now owns 269 shares of the company’s stock worth $29,000 after buying an additional 100 shares during the period. Lucia Wealth Services LLC purchased a new stake in shares of Procter & Gamble in the 3rd quarter worth about $29,000. Dougherty Wealth Advisers LLC grew its position in shares of Procter & Gamble by 250.0% in the 2nd quarter. Dougherty Wealth Advisers LLC now owns 350 shares of the company’s stock worth $38,000 after buying an additional 250 shares during the period. Finally, Princeton Global Asset Management LLC grew its position in shares of Procter & Gamble by 51.4% in the 2nd quarter. Princeton Global Asset Management LLC now owns 442 shares of the company’s stock worth $48,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds own 65.62% of the company’s stock.

In other news, insider Mary Theresa Grabowski sold 5,200 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $119.10, for a total value of $619,320.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Valarie L. Sheppard sold 1,259 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $120.36, for a total transaction of $151,533.24. Following the completion of the transaction, the vice president now owns 26,094 shares in the company, valued at approximately $3,140,673.84. The disclosure for this sale can be found here. Insiders have sold a total of 448,674 shares of company stock worth $53,197,461 in the last 90 days. Company insiders own 1.75% of the company’s stock.



PG traded down $0.36 during midday trading on Friday, hitting $121.58. 3,064,804 shares of the company traded hands, compared to its average volume of 6,660,306. The company has a quick ratio of 0.58, a current ratio of 0.75 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $302.64 billion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 3.51 and a beta of 0.42. The company’s 50-day moving average is $121.79 and its 200 day moving average is $112.57. Procter & Gamble Co has a 52 week low of $78.49 and a 52 week high of $125.36.

Procter & Gamble (NYSE:PG) last posted its earnings results on Tuesday, July 30th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.04. The business had revenue of $17.09 billion for the quarter, compared to analysts’ expectations of $16.86 billion. Procter & Gamble had a net margin of 5.76% and a return on equity of 23.03%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 EPS. On average, sell-side analysts predict that Procter & Gamble Co will post 4.85 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be paid a dividend of $0.7459 per share. This represents a $2.98 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Thursday, October 17th. Procter & Gamble’s dividend payout ratio is currently 65.93%.

A number of research firms have recently weighed in on PG. ValuEngine downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. TheStreet downgraded shares of Procter & Gamble from an “a-” rating to a “c+” rating in a research report on Tuesday, July 30th. Scotiabank reissued a “buy” rating on shares of Procter & Gamble in a research report on Friday, July 5th. Goldman Sachs Group raised shares of Procter & Gamble from a “neutral” rating to a “buy” rating and increased their price objective for the company from $114.00 to $125.00 in a research report on Thursday, June 27th. Finally, Stifel Nicolaus set a $117.00 price objective on shares of Procter & Gamble and gave the company a “hold” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $108.95.

Procter & Gamble 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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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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