Madison Wealth Management trimmed its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 1.3% in the second quarter, Holdings Channel.com reports. The fund owned 30,362 shares of the company’s stock after selling 406 shares during the quarter. Madison Wealth Management’s holdings in The Procter & Gamble were worth $4,097,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. OLD Mission Capital LLC bought a new position in The Procter & Gamble during the third quarter worth about $349,000. Certified Advisory Corp acquired a new position in shares of The Procter & Gamble in the 1st quarter worth approximately $949,000. Verity Asset Management Inc. lifted its position in shares of The Procter & Gamble by 15.2% during the 1st quarter. Verity Asset Management Inc. now owns 1,862 shares of the company’s stock worth $252,000 after buying an additional 246 shares during the period. Parkside Financial Bank & Trust boosted its position in The Procter & Gamble by 0.9% in the first quarter. Parkside Financial Bank & Trust now owns 15,274 shares of the company’s stock valued at $2,068,000 after buying an additional 129 shares in the last quarter. Finally, Rossmore Private Capital grew its position in The Procter & Gamble by 28.8% during the 1st quarter. Rossmore Private Capital now owns 43,308 shares of the company’s stock worth $5,865,000 after acquiring an additional 9,679 shares during the last quarter. Institutional investors and hedge funds own 62.51% of the company’s stock.
In related news, Director Nelson Peltz sold 207,000 shares of the stock in a transaction that occurred on Tuesday, August 31st. The shares were sold at an average price of $142.43, for a total value of $29,483,010.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andre Schulten sold 1,513 shares of the company’s stock in a transaction on Monday, August 23rd. The stock was sold at an average price of $144.50, for a total transaction of $218,628.50. The disclosure for this sale can be found here. Insiders have sold a total of 748,024 shares of company stock valued at $106,760,698 in the last three months. 0.51% of the stock is owned by insiders.
The Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Thursday, July 29th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.05. The Procter & Gamble had a net margin of 18.80% and a return on equity of 31.49%. The business had revenue of $18.95 billion for the quarter, compared to analyst estimates of $18.38 billion. During the same quarter last year, the business posted $1.16 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities analysts expect that The Procter & Gamble Company will post 5.94 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 16th. Stockholders of record on Friday, July 23rd were paid a $0.8698 dividend. This is a positive change from The Procter & Gamble’s previous quarterly dividend of $0.66. The ex-dividend date was Thursday, July 22nd. This represents a $3.48 annualized dividend and a dividend yield of 2.48%. The Procter & Gamble’s dividend payout ratio (DPR) is presently 61.48%.
A number of equities research analysts have recently weighed in on PG shares. UBS Group initiated coverage on The Procter & Gamble in a research report on Wednesday, June 23rd. They set a “neutral” rating and a $138.00 target price for the company. Truist raised their price target on The Procter & Gamble from $140.00 to $145.00 and gave the stock a “hold” rating in a research report on Monday, August 2nd. Zacks Investment Research raised shares of The Procter & Gamble from a “hold” rating to a “buy” rating and set a $149.00 price objective on the stock in a research report on Tuesday, July 20th. Erste Group raised The Procter & Gamble from a “hold” rating to a “buy” rating in a research report on Friday, August 20th. Finally, Credit Suisse Group lifted their target price on The Procter & Gamble from $135.00 to $145.00 and gave the company a “neutral” rating in a research report on Monday, August 2nd. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, The Procter & Gamble currently has a consensus rating of “Hold” and an average price target of $151.63.
About The Procter & Gamble
Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment comprises of shave care like female and male blades and razors, pre and post shave products, and appliances.
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