Diversified Portfolios Inc. cut its holdings in shares of Procter & Gamble Co (NYSE:PG) by 8.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,743 shares of the company’s stock after selling 841 shares during the quarter. Procter & Gamble comprises 0.4% of Diversified Portfolios Inc.’s portfolio, making the stock its 22nd largest holding. Diversified Portfolios Inc.’s holdings in Procter & Gamble were worth $803,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of PG. Beach Investment Management LLC. purchased a new stake in Procter & Gamble in the second quarter worth $6,942,000. Crescent Grove Advisors LLC bought a new stake in Procter & Gamble in the second quarter worth $2,845,000. Wedge Capital Management L L P NC boosted its holdings in Procter & Gamble by 25.9% in the second quarter. Wedge Capital Management L L P NC now owns 2,878 shares of the company’s stock worth $251,000 after acquiring an additional 592 shares in the last quarter. First Capital Advisors Group LLC. boosted its holdings in Procter & Gamble by 1.5% in the second quarter. First Capital Advisors Group LLC. now owns 23,396 shares of the company’s stock worth $2,039,000 after acquiring an additional 346 shares in the last quarter. Finally, Sterling Global Strategies LLC boosted its holdings in Procter & Gamble by 0.4% in the second quarter. Sterling Global Strategies LLC now owns 11,247 shares of the company’s stock worth $980,000 after acquiring an additional 47 shares in the last quarter. 61.05% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Marylynn Fergusonmchugh sold 2,353 shares of the company’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $78.59, for a total transaction of $184,922.27. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Marc S. Pritchard sold 46,842 shares of the company’s stock in a transaction on 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. Over the last ninety days, insiders have sold 114,011 shares of company stock worth $9,710,976. Corporate insiders own 0.35% of the company’s stock.
Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Tuesday, January 23rd. The company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.05. The firm had revenue of $17.40 billion for the quarter, compared to the consensus estimate of $17.39 billion. Procter & Gamble had a return on equity of 20.66% and a net margin of 15.34%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.08 earnings per share. analysts predict that Procter & Gamble Co will post 4.21 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Stockholders 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 dividend yield of 3.45%. The ex-dividend date of this dividend was Thursday, January 18th. Procter & Gamble’s payout ratio is currently 70.23%.
Several research firms have commented on PG. Jefferies Group reissued a “buy” rating and issued a $99.00 target price on shares of Procter & Gamble in a report on Monday, December 18th. SunTrust Banks reissued a “hold” rating and issued a $90.00 target price on shares of Procter & Gamble in a report on Tuesday, January 23rd. Wells Fargo & Co reissued a “hold” rating and issued a $88.00 target price on shares of Procter & Gamble in a report on Sunday, December 17th. Stifel Nicolaus boosted their target price on Procter & Gamble from $87.00 to $88.00 and gave the stock a “hold” rating in a report on Wednesday, January 24th. Finally, Berenberg Bank began coverage on Procter & Gamble in a report on Wednesday, February 28th. They issued a “sell” rating and a $78.50 target price on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $87.37.
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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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