Israel Discount Bank of New York Decreases Holdings in The Procter & Gamble Company (NYSE:PG)

Israel Discount Bank of New York trimmed its holdings in shares of The Procter & Gamble Company (NYSE:PGGet Rating) by 9.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,509 shares of the company’s stock after selling 837 shares during the period. Procter & Gamble accounts for about 0.9% of Israel Discount Bank of New York’s holdings, making the stock its 24th biggest holding. Israel Discount Bank of New York’s holdings in Procter & Gamble were worth $1,301,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of PG. OLD Mission Capital LLC purchased a new position in Procter & Gamble in the 3rd quarter valued at about $349,000. Morgan Stanley boosted its position in Procter & Gamble by 5.0% in the 2nd quarter. Morgan Stanley now owns 34,500,719 shares of the company’s stock valued at $4,655,181,000 after buying an additional 1,632,893 shares during the last quarter. Keudell Morrison Wealth Management boosted its position in Procter & Gamble by 2.4% in the 3rd quarter. Keudell Morrison Wealth Management now owns 9,450 shares of the company’s stock valued at $1,321,000 after buying an additional 219 shares during the last quarter. Center for Financial Planning Inc. boosted its position in Procter & Gamble by 4.2% in the 3rd quarter. Center for Financial Planning Inc. now owns 20,270 shares of the company’s stock valued at $2,834,000 after buying an additional 816 shares during the last quarter. Finally, EagleClaw Capital Managment LLC boosted its position in Procter & Gamble by 17.0% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 6,775 shares of the company’s stock valued at $946,000 after buying an additional 985 shares during the last quarter. 63.64% of the stock is owned by institutional investors.

PG has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered shares of Procter & Gamble from an “overweight” rating to a “neutral” rating and cut their target price for the company from $181.00 to $165.00 in a research note on Wednesday, March 30th. Jefferies Financial Group upped their target price on shares of Procter & Gamble from $179.00 to $185.00 in a research note on Thursday, April 21st. Credit Suisse Group upped their target price on shares of Procter & Gamble from $140.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, April 21st. The Goldman Sachs Group cut their target price on shares of Procter & Gamble from $179.00 to $173.00 in a research note on Tuesday, March 29th. Finally, Evercore ISI set a $170.00 price objective on shares of Procter & Gamble in a research note on Monday. Six research analysts have rated the stock with a hold rating and ten have assigned 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 $163.80.

In other news, Chairman David S. Taylor sold 60,000 shares of the stock in a transaction that occurred on Thursday, April 21st. The shares were sold at an average price of $164.52, for a total value of $9,871,200.00. Following the completion of the transaction, the chairman now directly owns 253,933 shares in the company, valued at $41,777,057.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman David S. Taylor sold 30,000 shares of the stock in a transaction that occurred on Monday, April 25th. The shares were sold at an average price of $162.83, for a total transaction of $4,884,900.00. Following the completion of the transaction, the chairman now owns 253,933 shares of the company’s stock, valued at $41,347,910.39. 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 quarter. Insiders own 0.51% of the company’s stock.

Shares of NYSE:PG opened at $136.37 on Wednesday. The firm’s 50 day moving average is $150.09 and its two-hundred day moving average is $154.56. The Procter & Gamble Company has a 52 week low of $129.50 and a 52 week high of $165.35. The firm has a market capitalization of $327.19 billion, a P/E ratio of 23.80, a PEG ratio of 3.74 and a beta of 0.40. The company has a current ratio of 0.68, a quick ratio of 0.47 and a debt-to-equity ratio of 0.53.

Procter & Gamble (NYSE:PGGet Rating) last announced its quarterly earnings results on Wednesday, April 20th. The company reported $1.33 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $18.69 billion. During the same quarter last year, the business earned $1.26 earnings per share. Procter & Gamble’s revenue was up 7.0% compared to the same quarter last year. Analysts predict that The Procter & Gamble Company will post 5.85 EPS for the current year.

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

Procter & Gamble 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

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

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