Wimmer Associates 1 LLC trimmed its position in Procter & Gamble Co (NYSE:PG) by 5.8% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 17,449 shares of the company’s stock after selling 1,079 shares during the period. Procter & Gamble comprises approximately 1.5% of Wimmer Associates 1 LLC’s holdings, making the stock its 29th largest holding. Wimmer Associates 1 LLC’s holdings in Procter & Gamble were worth $1,588,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Asset Planning Services Ltd. lifted its stake in shares of Procter & Gamble by 0.4% in the 2nd quarter. Asset Planning Services Ltd. now owns 1,191 shares of the company’s stock valued at $104,000 after purchasing an additional 5 shares during the period. Harding Loevner LP acquired a new stake in Procter & Gamble during the 2nd quarter worth $119,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Procter & Gamble during the 3rd quarter worth $125,000. Blume Capital Management Inc. raised its stake in Procter & Gamble by 25.4% during the 2nd quarter. Blume Capital Management Inc. now owns 1,482 shares of the company’s stock worth $129,000 after buying an additional 300 shares during the period. Finally, Litman Gregory Asset Management LLC acquired a new stake in Procter & Gamble during the 3rd quarter worth $173,000. Hedge funds and other institutional investors own 59.78% of the company’s stock.
PG has been the topic of several research analyst reports. Zacks Investment Research raised Procter & Gamble from a “hold” rating to a “buy” rating and set a $102.00 price objective on the stock in a research note on Monday, January 8th. Goldman Sachs Group raised Procter & Gamble from a “sell” rating to a “neutral” rating and set a $77.00 price objective on the stock in a research note on Tuesday, January 16th. Deutsche Bank initiated coverage on Procter & Gamble in a research note on Tuesday, December 19th. They set a “buy” rating and a $91.88 price objective on the stock. Wells Fargo & Co reaffirmed a “hold” rating and set a $88.00 price objective on shares of Procter & Gamble in a research note on Sunday, December 17th. Finally, Morgan Stanley raised their price objective on Procter & Gamble from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Procter & Gamble presently has a consensus rating of “Buy” and an average price target of $87.57.
Procter & Gamble (NYSE:PG) last released its earnings results on Tuesday, January 23rd. The company reported $1.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.05. The firm had revenue of $17.40 billion during the quarter, compared to analysts’ expectations of $17.39 billion. Procter & Gamble had a return on equity of 20.66% and a net margin of 15.34%. The company’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.08 EPS. equities analysts forecast that Procter & Gamble Co will post 4.21 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Friday, January 19th were issued a dividend of $0.6896 per share. This represents a $2.76 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date was Thursday, January 18th. Procter & Gamble’s dividend payout ratio (DPR) is presently 73.80%.
In other news, insider Jeffrey K. Schomburger sold 37,776 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $81.37, for a total value of $3,073,833.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marc S. Pritchard sold 46,842 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $89.01, for a total value of $4,169,406.42. The disclosure for this sale can be found here. In the last quarter, insiders have sold 108,406 shares of company stock valued at $9,270,479. Corporate insiders own 0.35% of the company’s stock.
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About Procter & Gamble
The Procter & Gamble Company is focused on providing branded consumer packaged goods to the consumers across the world. The Company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care, and Baby, Feminine & Family Care. The Company sells its products in approximately 180 countries and territories primarily through mass merchandisers, grocery stores, membership club stores, drug stores, department stores, distributors, baby stores, specialty beauty stores, e-commerce, high-frequency stores and pharmacies.
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