Inverness Counsel LLC NY trimmed its holdings in The Procter & Gamble Company (NYSE:PG) by 33.8% during the second quarter, Holdings Channel.com reports. The fund owned 105,152 shares of the company’s stock after selling 53,805 shares during the period. Inverness Counsel LLC NY’s holdings in The Procter & Gamble were worth $14,188,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the business. Paragon Wealth Strategies LLC purchased a new position in shares of The Procter & Gamble during the 2nd quarter worth about $33,000. KB Financial Partners LLC purchased a new position in shares of The Procter & Gamble during the 1st quarter worth about $41,000. Aspire Private Capital LLC lifted its holdings in shares of The Procter & Gamble by 85.3% during the 1st quarter. Aspire Private Capital LLC now owns 430 shares of the company’s stock worth $58,000 after acquiring an additional 198 shares during the period. Cowen Prime Advisors LLC purchased a new position in shares of The Procter & Gamble during the 2nd quarter worth about $67,000. Finally, Wagner Wealth Management LLC purchased a new position in The Procter & Gamble in the first quarter valued at approximately $79,000. 62.51% of the stock is currently owned by institutional investors.
A number of analysts have recently weighed in on PG shares. Truist Securities raised their price target on shares of The Procter & Gamble from $140.00 to $145.00 and gave the stock a “hold” rating in a research report on Monday, August 2nd. Zacks Investment Research upgraded The Procter & Gamble from a “hold” rating to a “buy” rating and set a $149.00 target price on the stock in a research note on Tuesday, July 20th. Erste Group upgraded shares of The Procter & Gamble from a “hold” rating to a “buy” rating in a research note on Friday, August 20th. Royal Bank of Canada lifted their price objective on shares of The Procter & Gamble from $130.00 to $139.00 and gave the company a “sector perform” rating in a research note on Monday, August 2nd. Finally, Citigroup boosted their price target on shares of The Procter & Gamble from $150.00 to $154.00 and gave the stock a “neutral” rating in a research report on Monday, August 2nd. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $151.63.
The Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Thursday, July 29th. The company reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.05. The company had revenue of $18.95 billion for the quarter, compared to analyst estimates of $18.38 billion. The Procter & Gamble had a return on equity of 31.49% and a net margin of 18.80%. The Procter & Gamble’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.16 earnings per share. Equities research analysts predict that The Procter & Gamble Company will post 5.94 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 16th. Investors of record on Friday, July 23rd were issued a dividend of $0.8698 per share. The ex-dividend date of this dividend was Thursday, July 22nd. This is an increase from The Procter & Gamble’s previous quarterly dividend of $0.66. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.40%. The Procter & Gamble’s dividend payout ratio (DPR) is presently 61.48%.
In other news, insider Mary Theresa Grabowski sold 15,539 shares of the firm’s stock in a transaction that occurred on Tuesday, August 3rd. The stock was sold at an average price of $143.00, for a total value of $2,222,077.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Shailesh Jejurikar sold 22,344 shares of the firm’s stock in a transaction that occurred on Wednesday, August 11th. The shares were sold at an average price of $142.75, for a total value of $3,189,606.00. Following the completion of the sale, the chief executive officer now directly owns 38,466 shares of the company’s stock, valued at $5,491,021.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 748,024 shares of company stock valued at $106,760,698. 0.51% of the stock is owned by corporate insiders.
The Procter & Gamble Company Profile
Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment comprises of shave care like female and male blades and razors, pre and post shave products, and appliances.
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