Point View Wealth Management Inc. reduced its stake in Procter & Gamble Co (NYSE:PG) by 3.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,468 shares of the company’s stock after selling 414 shares during the period. Point View Wealth Management Inc.’s holdings in Procter & Gamble were worth $1,252,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. New England Investment & Retirement Group Inc. purchased a new stake in shares of Procter & Gamble in the 1st quarter worth approximately $28,000. Magellan Asset Management Ltd purchased a new stake in shares of Procter & Gamble in the 1st quarter worth approximately $29,000. Costello Asset Management INC purchased a new stake in shares of Procter & Gamble in the 2nd quarter worth approximately $35,000. Efficient Wealth Management LLC purchased a new stake in shares of Procter & Gamble in the 1st quarter worth approximately $39,000. Finally, Barnett & Company Inc. lifted its position in shares of Procter & Gamble by 23.4% in the 2nd quarter. Barnett & Company Inc. now owns 453 shares of the company’s stock worth $54,000 after purchasing an additional 86 shares during the period. Institutional investors and hedge funds own 63.33% of the company’s stock.
Several brokerages have recently weighed in on PG. Royal Bank of Canada reaffirmed a “hold” rating and issued a $120.00 price target on shares of Procter & Gamble in a research report on Tuesday, April 14th. Morgan Stanley increased their target price on shares of Procter & Gamble from $134.00 to $144.00 and gave the company an “overweight” rating in a research report on Friday. SunTrust Banks increased their target price on shares of Procter & Gamble from $115.00 to $120.00 in a research report on Wednesday, July 22nd. Deutsche Bank increased their target price on shares of Procter & Gamble from $133.00 to $138.00 and gave the company a “buy” rating in a research report on Monday, July 27th. Finally, Stifel Nicolaus increased their target price on shares of Procter & Gamble from $117.00 to $129.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $133.67.
Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.15. The firm had revenue of $17.70 billion for the quarter, compared to analyst estimates of $16.97 billion. Procter & Gamble had a net margin of 18.36% and a return on equity of 29.38%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.10 earnings per share. As a group, sell-side analysts forecast that Procter & Gamble Co will post 5.3 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Friday, July 24th will be paid a $0.7907 dividend. The ex-dividend date is Thursday, July 23rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.41%. Procter & Gamble’s payout ratio is currently 61.72%.
In other news, Director Nelson Peltz sold 1,005,263 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $114.50, for a total value of $115,102,613.50. Following the sale, the director now owns 3,891 shares in the company, valued at $445,519.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jon R. Moeller sold 130,626 shares of the firm’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $116.37, for a total transaction of $15,200,947.62. The disclosure for this sale can be found here. Insiders sold 1,570,603 shares of company stock worth $179,504,390 in the last quarter. Company insiders own 1.75% of the company’s stock.
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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