Carnegie Capital Asset Management LLC Sells 22,863 Shares of The Procter & Gamble Company (NYSE:PG)

Carnegie Capital Asset Management LLC lessened its position in The Procter & Gamble Company (NYSE:PGGet Rating) by 28.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 57,131 shares of the company’s stock after selling 22,863 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Procter & Gamble were worth $7,708,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PG. Lansing Street Advisors purchased a new stake in shares of Procter & Gamble in the first quarter worth $37,000. Western Pacific Wealth Management LP purchased a new stake in shares of Procter & Gamble in the fourth quarter worth $40,000. Dravo Bay LLC purchased a new stake in shares of Procter & Gamble in the first quarter worth $40,000. Retirement Group LLC increased its stake in shares of Procter & Gamble by 48.2% in the first quarter. Retirement Group LLC now owns 283 shares of the company’s stock worth $43,000 after purchasing an additional 92 shares in the last quarter. Finally, IAG Wealth Partners LLC increased its stake in shares of Procter & Gamble by 31.0% in the first quarter. IAG Wealth Partners LLC now owns 317 shares of the company’s stock worth $48,000 after purchasing an additional 75 shares in the last quarter. Institutional investors own 63.45% of the company’s stock.

Procter & Gamble Price Performance

Procter & Gamble stock opened at $136.21 on Friday. The firm has a 50-day moving average price of $142.58 and a 200-day moving average price of $147.19. The firm has a market capitalization of $324.93 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 3.49 and a beta of 0.35. The company has a current ratio of 0.65, a quick ratio of 0.45 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a 12-month low of $129.50 and a 12-month high of $165.35.

Procter & Gamble (NYSE:PGGet Rating) last released its earnings results on Friday, July 29th. The company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.02). The firm had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $19.41 billion. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.39%. Procter & Gamble’s revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.13 EPS. As a group, equities research analysts forecast that The Procter & Gamble Company will post 5.94 EPS for the current year.

Procter & Gamble Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Friday, July 22nd were issued a $0.913 dividend. The ex-dividend date of this dividend was Thursday, July 21st. This represents a $3.65 annualized dividend and a dividend yield of 2.68%. Procter & Gamble’s dividend payout ratio (DPR) is presently 62.82%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PG. Wells Fargo & Company reduced their price objective on shares of Procter & Gamble from $170.00 to $160.00 in a research note on Friday, July 22nd. StockNews.com cut shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Wednesday, September 14th. Evercore ISI set a $170.00 target price on shares of Procter & Gamble in a research note on Monday, June 20th. Barclays cut their target price on shares of Procter & Gamble from $157.00 to $154.00 and set an “overweight” rating for the company in a research note on Tuesday, August 2nd. Finally, UBS Group cut their target price on shares of Procter & Gamble to $153.00 in a research note on Friday, July 22nd. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $162.93.

Insider Transactions at Procter & Gamble

In related news, insider Mary Theresa Grabowski sold 10,397 shares of Procter & Gamble stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $146.00, for a total transaction of $1,517,962.00. Following the completion of the sale, the insider now owns 4,353 shares in the company, valued at approximately $635,538. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Mary Theresa Grabowski sold 10,397 shares of Procter & Gamble stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $146.00, for a total transaction of $1,517,962.00. Following the completion of the sale, the insider now owns 4,353 shares in the company, valued at approximately $635,538. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Andre Schulten sold 987 shares of Procter & Gamble stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $149.33, for a total transaction of $147,388.71. Following the sale, the chief financial officer now owns 27,330 shares of the company’s stock, valued at approximately $4,081,188.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 289,321 shares of company stock worth $42,559,426. 0.26% of the stock is currently owned by insiders.

About Procter & Gamble

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

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