Roberts Glore & Co. Inc. IL trimmed its holdings in shares of Procter & Gamble Co (NYSE:PG) by 0.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 24,854 shares of the company’s stock after selling 135 shares during the quarter. Procter & Gamble comprises approximately 1.2% of Roberts Glore & Co. Inc. IL’s holdings, making the stock its 22nd largest holding. Roberts Glore & Co. Inc. IL’s holdings in Procter & Gamble were worth $2,734,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. New England Investment & Retirement Group Inc. purchased a new stake in Procter & Gamble in the 1st quarter worth $28,000. Efficient Wealth Management LLC purchased a new stake in Procter & Gamble in the 1st quarter worth $39,000. Wealthcare Capital Management LLC increased its holdings in Procter & Gamble by 126.0% in the 4th quarter. Wealthcare Capital Management LLC now owns 339 shares of the company’s stock worth $42,000 after acquiring an additional 189 shares in the last quarter. Pacifica Partners Inc. purchased a new stake in Procter & Gamble in the 4th quarter worth $44,000. Finally, Lighthouse Financial Advisors Inc. purchased a new stake in Procter & Gamble in the 4th quarter worth $44,000. Institutional investors and hedge funds own 62.39% of the company’s stock.
In other Procter & Gamble news, Director Nelson Peltz sold 1,813,227 shares of the company’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $121.84, for a total value of $220,923,577.68. Following the transaction, the director now owns 3,891 shares of the company’s stock, valued at $474,079.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Deborah P. Majoras sold 12,589 shares of the company’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $122.68, for a total transaction of $1,544,418.52. Following the completion of the transaction, the insider now directly owns 44,948 shares in the company, valued at approximately $5,514,220.64. The disclosure for this sale can be found here. Insiders sold 8,802,488 shares of company stock worth $1,048,532,939 in the last ninety days. 1.75% of the stock is currently owned by corporate insiders.
Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Friday, April 17th. The company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.04. The firm had revenue of $17.21 billion for the quarter, compared to analysts’ expectations of $17.29 billion. Procter & Gamble had a net margin of 7.09% and a return on equity of 29.15%. The company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.06 EPS. On average, equities research analysts anticipate that Procter & Gamble Co will post 4.95 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, April 24th were given a dividend of $0.7907 per share. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Thursday, April 23rd. This represents a $3.16 annualized dividend and a dividend yield of 2.81%. Procter & Gamble’s payout ratio is presently 69.91%.
Several brokerages recently commented on PG. Argus raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a report on Thursday, March 26th. Bank of America reissued a “buy” rating and issued a $135.00 price target on shares of Procter & Gamble in a report on Saturday, April 18th. Stifel Nicolaus upped their target price on shares of Procter & Gamble from $117.00 to $129.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Citigroup upped their target price on shares of Procter & Gamble from $143.00 to $146.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Finally, Deutsche Bank upped their target price on shares of Procter & Gamble from $130.00 to $131.00 and gave the stock a “buy” rating in a report on Wednesday, April 15th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Procter & Gamble currently has an average rating of “Buy” and a consensus price target of $130.31.
About Procter & Gamble
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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