Summit Financial Group Inc. Sells 175 Shares of The Procter & Gamble Company (NYSE:PG)

Summit Financial Group Inc. lessened its position in The Procter & Gamble Company (NYSE:PGGet Rating) by 0.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,692 shares of the company’s stock after selling 175 shares during the period. Procter & Gamble makes up 2.5% of Summit Financial Group Inc.’s portfolio, making the stock its 6th biggest position. Summit Financial Group Inc.’s holdings in Procter & Gamble were worth $7,440,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PG. Norges Bank acquired a new stake in shares of Procter & Gamble in the 4th quarter worth about $3,726,603,000. GQG Partners LLC acquired a new stake in shares of Procter & Gamble in the 4th quarter worth about $1,231,791,000. UBS Asset Management Americas Inc. grew its position in Procter & Gamble by 33.7% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 13,748,859 shares of the company’s stock valued at $1,922,090,000 after buying an additional 3,467,039 shares in the last quarter. BlackRock Inc. grew its position in Procter & Gamble by 1.2% in the 4th quarter. BlackRock Inc. now owns 156,813,285 shares of the company’s stock valued at $25,651,517,000 after buying an additional 1,785,863 shares in the last quarter. Finally, State Street Corp grew its position in Procter & Gamble by 1.7% in the 4th quarter. State Street Corp now owns 105,458,164 shares of the company’s stock valued at $17,250,846,000 after buying an additional 1,716,517 shares in the last quarter. 63.64% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages recently issued reports on PG. Evercore ISI set a $170.00 target price on shares of Procter & Gamble in a research report on Monday. The Goldman Sachs Group decreased their target price on shares of Procter & Gamble from $179.00 to $173.00 in a research report on Tuesday, March 29th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Procter & Gamble from $171.00 to $157.00 in a research report on Tuesday. Barclays decreased their target price on shares of Procter & Gamble from $176.00 to $157.00 and set an “overweight” rating for the company in a research report on Monday, May 23rd. Finally, JPMorgan Chase & Co. lowered shares of Procter & Gamble from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $181.00 to $165.00 in a research report on Wednesday, March 30th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Procter & Gamble presently has an average rating of “Moderate Buy” and an average target price of $163.80.

PG stock opened at $136.37 on Wednesday. The company has a current ratio of 0.68, a quick ratio of 0.47 and a debt-to-equity ratio of 0.53. The Procter & Gamble Company has a one year low of $129.50 and a one year high of $165.35. The firm has a market capitalization of $327.19 billion, a PE ratio of 23.80, a P/E/G ratio of 3.74 and a beta of 0.40. The firm has a 50-day moving average of $150.09 and a two-hundred day moving average of $154.56.

Procter & Gamble (NYSE:PGGet Rating) last posted its quarterly earnings data on Wednesday, April 20th. The company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.05. Procter & Gamble had a net margin of 18.33% and a return on equity of 32.39%. The company had revenue of $19.38 billion during the quarter, compared to analyst estimates of $18.69 billion. During the same period in the prior year, the firm earned $1.26 earnings per share. The business’s quarterly revenue was up 7.0% on a year-over-year basis. On average, equities research analysts anticipate that The Procter & Gamble Company will post 5.85 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, May 16th. Stockholders of record on Friday, April 22nd were given a $0.9133 dividend. This represents a $3.65 dividend on an annualized basis and a dividend yield of 2.68%. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Thursday, April 21st. Procter & Gamble’s dividend payout ratio is 63.70%.

In other news, CAO Matthew W. Janzaruk sold 334 shares of the stock in a transaction that occurred on Tuesday, April 26th. The shares were sold at an average price of $162.43, for a total value of $54,251.62. Following the completion of the sale, the chief accounting officer now directly owns 1,220 shares of the company’s stock, valued at $198,164.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ma. Fatima Francisco sold 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 21st. The shares were sold at an average price of $164.10, for a total transaction of $2,953,800.00. Following the transaction, the chief executive officer now directly owns 7,020 shares in the company, valued at approximately $1,151,982. The disclosure for this sale can be found here. Insiders sold 108,415 shares of company stock valued at $17,777,055 over the last three months. 0.51% of the stock is owned by insiders.

Procter & Gamble Company Profile (Get Rating)

The Procter & Gamble Company provides branded consumer packaged goods to consumers in North and Latin America, Europe, the Asia Pacific, Greater China, India, the Middle East, and Africa. It operates in five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care.

Further Reading

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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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