Somerset Trust Co Lowers Holdings in The Procter & Gamble Company (NYSE:PG)

Somerset Trust Co trimmed its holdings in The Procter & Gamble Company (NYSE:PG) by 5.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 19,305 shares of the company’s stock after selling 1,092 shares during the period. Somerset Trust Co’s holdings in Procter & Gamble were worth $2,929,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the business. Brandywine Managers LLC purchased a new position in Procter & Gamble in the first quarter valued at $22,326,000. BSW Wealth Partners increased its holdings in Procter & Gamble by 0.5% in the first quarter. BSW Wealth Partners now owns 27,813 shares of the company’s stock valued at $4,136,000 after buying an additional 132 shares in the last quarter. Ballentine Partners LLC increased its holdings in Procter & Gamble by 12.5% in the first quarter. Ballentine Partners LLC now owns 46,655 shares of the company’s stock valued at $6,937,000 after buying an additional 5,202 shares in the last quarter. Advisor Partners II LLC increased its holdings in Procter & Gamble by 2.7% in the first quarter. Advisor Partners II LLC now owns 114,256 shares of the company’s stock valued at $16,987,000 after buying an additional 3,037 shares in the last quarter. Finally, Lineweaver Wealth Advisors LLC grew its holdings in Procter & Gamble by 7.3% in the first quarter. Lineweaver Wealth Advisors LLC now owns 27,831 shares of the company’s stock valued at $4,139,000 after purchasing an additional 1,899 shares during the period. 63.43% of the stock is owned by hedge funds and other institutional investors.

Procter & Gamble Stock Down 0.8 %

Shares of PG opened at $153.46 on Friday. The firm has a market cap of $361.75 billion, a P/E ratio of 26.01, a price-to-earnings-growth ratio of 3.85 and a beta of 0.42. The Procter & Gamble Company has a 12-month low of $122.18 and a 12-month high of $158.38. The company’s 50-day moving average price is $153.26 and its 200 day moving average price is $150.09. The company has a current ratio of 0.63, a quick ratio of 0.44 and a debt-to-equity ratio of 0.53.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Friday, July 28th. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.05. Procter & Gamble had a net margin of 17.87% and a return on equity of 32.88%. The firm had revenue of $20.60 billion for the quarter, compared to analyst estimates of $20.01 billion. During the same period in the previous year, the firm earned $1.21 EPS. Procter & Gamble’s revenue was up 5.6% on a year-over-year basis. On average, sell-side analysts forecast that The Procter & Gamble Company will post 6.38 earnings per share for the current year.

Procter & Gamble Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Friday, July 21st were issued a $0.9407 dividend. The ex-dividend date of this dividend was Thursday, July 20th. This represents a $3.76 annualized dividend and a yield of 2.45%. Procter & Gamble’s dividend payout ratio (DPR) is presently 63.73%.

Insider Activity at Procter & Gamble

In related news, CEO Gary A. Coombe sold 10,094 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $154.00, for a total transaction of $1,554,476.00. Following the completion of the transaction, the chief executive officer now directly owns 36,896 shares in the company, valued at approximately $5,681,984. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Gary A. Coombe sold 10,094 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $154.00, for a total transaction of $1,554,476.00. Following the completion of the transaction, the chief executive officer now directly owns 36,896 shares in the company, valued at approximately $5,681,984. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Matthew W. Janzaruk sold 33,022 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $156.26, for a total transaction of $5,160,017.72. Following the sale, the chief accounting officer now owns 888 shares in the company, valued at $138,758.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 106,607 shares of company stock worth $16,523,793. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. StockNews.com lowered Procter & Gamble from a “buy” rating to a “hold” rating in a report on Saturday. Wells Fargo & Company increased their price objective on shares of Procter & Gamble from $165.00 to $170.00 and gave the company an “overweight” rating in a report on Monday, July 31st. Royal Bank of Canada increased their price objective on shares of Procter & Gamble from $165.00 to $167.00 and gave the company a “sector perform” rating in a report on Monday, July 31st. Barclays increased their price objective on shares of Procter & Gamble from $160.00 to $166.00 and gave the company an “overweight” rating in a report on Tuesday, August 1st. Finally, Bank of America increased their target price on Procter & Gamble from $170.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, August 1st. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $164.82.

Procter & Gamble Company Profile

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.