49 Wealth Management LLC cut its stake in shares of The Procter & Gamble Company (NYSE:PG - Free Report) by 60.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,749 shares of the company's stock after selling 8,703 shares during the period. 49 Wealth Management LLC's holdings in Procter & Gamble were worth $996,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC raised its position in shares of Procter & Gamble by 19,030.8% in the 3rd quarter. International Assets Investment Management LLC now owns 3,693,593 shares of the company's stock valued at $639,730,000 after buying an additional 3,674,286 shares in the last quarter. Wulff Hansen & CO. raised its holdings in shares of Procter & Gamble by 16,292.0% during the second quarter. Wulff Hansen & CO. now owns 3,675,902 shares of the company's stock valued at $606,230,000 after purchasing an additional 3,653,477 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Procter & Gamble in the 3rd quarter valued at $301,950,000. AMF Tjanstepension AB raised its stake in shares of Procter & Gamble by 416.1% in the third quarter. AMF Tjanstepension AB now owns 1,818,490 shares of the company's stock worth $315,016,000 after purchasing an additional 1,466,115 shares during the last quarter. Finally, Swedbank AB purchased a new position in Procter & Gamble during the first quarter worth about $233,788,000. 65.77% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other Procter & Gamble news, insider Balaji Purushothaman sold 12,800 shares of the firm's stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $168.99, for a total value of $2,163,072.00. Following the transaction, the insider now directly owns 11,566 shares of the company's stock, valued at $1,954,538.34. This trade represents a 52.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Susan Street Whaley sold 634 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $108,826.10. Following the completion of the transaction, the insider now owns 19,341 shares of the company's stock, valued at $3,319,882.65. The trade was a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 160,693 shares of company stock worth $27,311,345 over the last 90 days. Corporate insiders own 0.18% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the stock. Barclays downgraded shares of Procter & Gamble from an "overweight" rating to an "equal weight" rating and set a $163.00 price target on the stock. in a report on Monday, September 30th. Hsbc Global Res upgraded shares of Procter & Gamble to a "strong-buy" rating in a report on Friday, October 4th. StockNews.com cut Procter & Gamble from a "buy" rating to a "hold" rating in a report on Thursday, August 1st. Wells Fargo & Company upped their price objective on shares of Procter & Gamble from $188.00 to $190.00 and gave the stock an "overweight" rating in a report on Friday. Finally, Morgan Stanley increased their price target on shares of Procter & Gamble from $174.00 to $191.00 and gave the company an "overweight" rating in a report on Monday, October 21st. Nine analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $178.00.
Check Out Our Latest Research Report on Procter & Gamble
Procter & Gamble Stock Up 2.0 %
Procter & Gamble stock traded up $3.44 during midday trading on Friday, hitting $176.19. 5,810,955 shares of the company were exchanged, compared to its average volume of 6,667,605. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55. The Procter & Gamble Company has a fifty-two week low of $142.50 and a fifty-two week high of $177.94. The company's fifty day moving average price is $170.00 and its 200-day moving average price is $168.54. The company has a market cap of $414.93 billion, a PE ratio of 30.48, a price-to-earnings-growth ratio of 3.69 and a beta of 0.42.
Procter & Gamble (NYSE:PG - Get Free Report) last announced its earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The firm had revenue of $21.74 billion for the quarter, compared to the consensus estimate of $21.99 billion. During the same quarter in the previous year, the business earned $1.83 EPS. The firm's revenue for the quarter was down .6% on a year-over-year basis. On average, research analysts predict that The Procter & Gamble Company will post 6.94 EPS for the current fiscal year.
Procter & Gamble Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were paid a $1.0065 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $4.03 annualized dividend and a dividend yield of 2.29%. Procter & Gamble's payout ratio is 69.48%.
About Procter & Gamble
(
Free Report)
The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company 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, SK-II, and Native brands.
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