Destination Wealth Management raised its holdings in Procter & Gamble Co (NYSE:PG) by 1.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,425 shares of the company’s stock after purchasing an additional 664 shares during the quarter. Destination Wealth Management’s holdings in Procter & Gamble were worth $4,779,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in PG. Prio Wealth Limited Partnership boosted its stake in shares of Procter & Gamble by 1.9% during the 3rd quarter. Prio Wealth Limited Partnership now owns 156,937 shares of the company’s stock worth $13,061,000 after acquiring an additional 2,909 shares in the last quarter. Frontier Investment Mgmt Co. purchased a new stake in shares of Procter & Gamble during the 3rd quarter worth approximately $286,000. Howe & Rusling Inc. boosted its stake in shares of Procter & Gamble by 12.0% during the 3rd quarter. Howe & Rusling Inc. now owns 6,151 shares of the company’s stock worth $512,000 after acquiring an additional 661 shares in the last quarter. Roundview Capital LLC boosted its stake in shares of Procter & Gamble by 2.4% during the 3rd quarter. Roundview Capital LLC now owns 29,811 shares of the company’s stock worth $2,481,000 after acquiring an additional 690 shares in the last quarter. Finally, Advisor Partners LLC boosted its stake in shares of Procter & Gamble by 10.5% during the 3rd quarter. Advisor Partners LLC now owns 56,292 shares of the company’s stock worth $4,685,000 after acquiring an additional 5,355 shares in the last quarter. 61.36% of the stock is currently owned by institutional investors.
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Shares of Procter & Gamble stock opened at $98.48 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.78 and a quick ratio of 0.61. Procter & Gamble Co has a 1 year low of $70.73 and a 1 year high of $99.70. The company has a market cap of $248.27 billion, a P/E ratio of 23.34, a P/E/G ratio of 3.19 and a beta of 0.38.
Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Wednesday, January 23rd. The company reported $1.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.04. Procter & Gamble had a return on equity of 21.41% and a net margin of 16.13%. The firm had revenue of $17.44 billion during the quarter, compared to the consensus estimate of $17.16 billion. During the same period in the previous year, the firm posted $1.19 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. On average, analysts forecast that Procter & Gamble Co will post 4.46 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 15th. Investors of record on Friday, January 18th were given a dividend of $0.7172 per share. The ex-dividend date was Thursday, January 17th. This represents a $2.87 annualized dividend and a dividend yield of 2.91%. Procter & Gamble’s dividend payout ratio is currently 68.01%.
Several brokerages have recently commented on PG. Morgan Stanley raised Procter & Gamble from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $91.00 to $106.00 in a research note on Thursday, December 13th. Wells Fargo & Co reissued a “hold” rating and set a $91.00 price target on shares of Procter & Gamble in a research note on Wednesday, January 23rd. Berenberg Bank raised Procter & Gamble from a “sell” rating to a “hold” rating and boosted their price target for the stock from $86.00 to $92.00 in a research note on Thursday, January 24th. SunTrust Banks boosted their price target on Procter & Gamble to $95.00 and gave the stock a “hold” rating in a research note on Thursday, January 24th. They noted that the move was a valuation call. Finally, Goldman Sachs Group restated a “neutral” rating and set a $95.00 price objective on shares of Procter & Gamble in a research report on Wednesday, January 23rd. Twelve analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Procter & Gamble presently has an average rating of “Hold” and an average target price of $95.00.
In other Procter & Gamble news, Chairman David S. Taylor sold 30,000 shares of the business’s stock in a transaction on Wednesday, February 13th. The stock was sold at an average price of $99.09, for a total value of $2,972,700.00. Following the completion of the transaction, the chairman now directly owns 223,849 shares in the company, valued at approximately $22,181,197.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Carolyn M. Tastad sold 19,791 shares of the business’s stock in a transaction on Wednesday, November 28th. The shares were sold at an average price of $92.71, for a total value of $1,834,823.61. Following the completion of the transaction, the insider now owns 60,575 shares of the company’s stock, valued at $5,615,908.25. The disclosure for this sale can be found here. Insiders have sold a total of 2,214,536 shares of company stock valued at $219,175,393 over the last 90 days. Insiders own 1.84% of the company’s stock.
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Procter & Gamble Profile
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.
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