Pinnacle Wealth Management LLC purchased a new position in The Procter & Gamble Company (NYSE:PG – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,202 shares of the company’s stock, valued at approximately $1,548,000.
Several other institutional investors and hedge funds have also bought and sold shares of PG. Bank Julius Baer & Co. Ltd Zurich grew its stake in Procter & Gamble by 99,734.1% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 253,081,478 shares of the company’s stock valued at $38,402,583,000 after buying an additional 252,827,976 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in shares of Procter & Gamble by 96,526.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 38,535,557 shares of the company’s stock worth $5,840,449,000 after acquiring an additional 38,495,676 shares during the period. Norges Bank purchased a new position in shares of Procter & Gamble in the fourth quarter valued at $3,752,321,000. Price T Rowe Associates Inc. MD raised its stake in shares of Procter & Gamble by 42.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,386,838 shares of the company’s stock valued at $3,626,080,000 after purchasing an additional 7,235,990 shares during the period. Finally, Morgan Stanley lifted its holdings in Procter & Gamble by 12.6% during the 4th quarter. Morgan Stanley now owns 44,320,700 shares of the company’s stock worth $6,717,246,000 after purchasing an additional 4,959,527 shares in the last quarter. 63.43% of the stock is owned by institutional investors.
Procter & Gamble Trading Down 1.2 %
NYSE:PG traded down $1.76 during trading hours on Friday, reaching $151.07. The company’s stock had a trading volume of 8,495,710 shares, compared to its average volume of 6,541,199. The firm has a 50-day simple moving average of $149.28 and a 200-day simple moving average of $150.69. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.48 and a current ratio of 0.67. The Procter & Gamble Company has a 1 year low of $135.83 and a 1 year high of $158.38. The firm has a market capitalization of $356.06 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 3.16 and a beta of 0.47.
Procter & Gamble Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, October 20th were paid a $0.9407 dividend. This represents a $3.76 annualized dividend and a dividend yield of 2.49%. The ex-dividend date was Thursday, October 19th. Procter & Gamble’s payout ratio is 61.04%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on PG shares. Deutsche Bank Aktiengesellschaft upped their price target on Procter & Gamble from $170.00 to $173.00 and gave the company a “buy” rating in a research report on Monday, July 31st. Morgan Stanley reiterated an “overweight” rating and issued a $174.00 target price on shares of Procter & Gamble in a research note on Tuesday, August 1st. Barclays reduced their price target on shares of Procter & Gamble from $166.00 to $154.00 and set an “overweight” rating for the company in a research report on Thursday, October 12th. Jefferies Financial Group began coverage on Procter & Gamble in a research report on Monday, November 13th. They issued a “buy” rating and a $177.00 price objective on the stock. Finally, Royal Bank of Canada boosted their target price on Procter & Gamble from $165.00 to $167.00 and gave the stock a “sector perform” rating in a research report on Monday, July 31st. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Procter & Gamble presently has a consensus rating of “Moderate Buy” and an average target price of $165.83.
Insider Activity at Procter & Gamble
In other news, insider Susan Street Whaley sold 884 shares of the stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $154.49, for a total transaction of $136,569.16. Following the completion of the sale, the insider now directly owns 8,073 shares in the company, valued at $1,247,197.77. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, COO Shailesh Jejurikar sold 11,522 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $154.13, for a total value of $1,775,885.86. Following the completion of the sale, the chief operating officer now directly owns 10,135 shares of the company’s stock, valued at approximately $1,562,107.55. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Susan Street Whaley sold 884 shares of the business’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $154.49, for a total transaction of $136,569.16. Following the transaction, the insider now owns 8,073 shares in the company, valued at approximately $1,247,197.77. The disclosure for this sale can be found here. Insiders sold 96,088 shares of company stock worth $14,565,908 in the last three months. 0.17% of the stock is owned by insiders.
About Procter & Gamble
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.
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