Hartford Investment Management Co. cut its stake in Procter & Gamble Co. (NYSE:PG) by 1.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 679,322 shares of the company’s stock after selling 10,426 shares during the period. Procter & Gamble Co. makes up 1.2% of Hartford Investment Management Co.’s portfolio, making the stock its 11th largest position. Hartford Investment Management Co.’s holdings in Procter & Gamble Co. were worth $57,518,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sigma Planning Corp raised its stake in Procter & Gamble Co. by 13.3% in the first quarter. Sigma Planning Corp now owns 68,139 shares of the company’s stock worth $5,609,000 after buying an additional 7,988 shares in the last quarter. Private Trust Co. NA raised its stake in Procter & Gamble Co. by 7.8% in the first quarter. Private Trust Co. NA now owns 65,272 shares of the company’s stock worth $5,372,000 after buying an additional 4,697 shares in the last quarter. V Wealth Management LLC bought a new stake in Procter & Gamble Co. during the first quarter worth $872,000. Dividend Asset Capital LLC raised its stake in Procter & Gamble Co. by 2.9% in the first quarter. Dividend Asset Capital LLC now owns 28,317 shares of the company’s stock worth $2,331,000 after buying an additional 797 shares in the last quarter. Finally, QUANTRES ASSET MANAGEMENT Ltd raised its stake in Procter & Gamble Co. by 186.2% in the first quarter. QUANTRES ASSET MANAGEMENT Ltd now owns 8,300 shares of the company’s stock worth $683,000 after buying an additional 5,400 shares in the last quarter. 58.86% of the stock is currently owned by institutional investors.
Shares of Procter & Gamble Co. (NYSE:PG) traded up 0.22% on Friday, reaching $88.43. 7,368,968 shares of the company were exchanged. Procter & Gamble Co. has a 52-week low of $73.50 and a 52-week high of $90.33. The company has a market capitalization of $236.00 billion, a P/E ratio of 23.94 and a beta of 0.54. The stock has a 50 day moving average of $88.27 and a 200-day moving average of $84.73.
Procter & Gamble Co. (NYSE:PG) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. Procter & Gamble Co. had a net margin of 16.09% and a return on equity of 17.48%. The firm earned $16.10 billion during the quarter, compared to analysts’ expectations of $15.83 billion. During the same period in the previous year, the company earned $1.00 earnings per share. Procter & Gamble Co.’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, analysts predict that Procter & Gamble Co. will post $0.02 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 21st will be given a $0.6695 dividend. The ex-dividend date of this dividend is Wednesday, October 19th. This represents a $2.68 dividend on an annualized basis and a yield of 3.03%. Procter & Gamble Co.’s dividend payout ratio (DPR) is presently 72.63%.
A number of analysts have weighed in on PG shares. Goldman Sachs Group Inc. restated a “neutral” rating and set a $88.00 target price (up previously from $81.00) on shares of Procter & Gamble Co. in a report on Friday, July 15th. Vetr upgraded Procter & Gamble Co. from a “hold” rating to a “buy” rating and set a $92.75 target price for the company in a report on Tuesday, October 4th. Argus upgraded Procter & Gamble Co. from a “hold” rating to a “buy” rating and upped their target price for the stock from $88.54 to $103.00 in a report on Wednesday. Deutsche Bank AG reiterated a “buy” rating and set a $95.00 price objective on shares of Procter & Gamble Co. in a report on Saturday, August 13th. Finally, B. Riley reiterated a “neutral” rating and set a $74.00 price objective on shares of Procter & Gamble Co. in a report on Wednesday, August 3rd. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $90.21.
In other news, SVP Valarie L. Sheppard sold 32,532 shares of the company’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $86.90, for a total value of $2,827,030.80. Following the completion of the sale, the senior vice president now directly owns 28,397 shares of the company’s stock, valued at $2,467,699.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Charles E. Pierce sold 55,127 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $86.07, for a total transaction of $4,744,780.89. Following the completion of the sale, the insider now directly owns 60,632 shares of the company’s stock, valued at $5,218,596.24. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by corporate insiders.
Procter & Gamble Co. Company Profile
The Procter & Gamble Company (P&G) provides consumer packaged goods. The Company operates in five segments under GBUs: Beauty, which offers a range of products ranging from deodorants to cosmetics to skin care; Grooming, which includes blades, razors and electronic hair removal devices, such as electric razors and epilators; Health Care, which includes oral care and personal health care products.; Fabric Care and Home Care, which consists of a range of fabric care products, home care products and batteries, and Baby Feminine and Family Care, which offers diapers, pants, baby wipe, Bounty paper, towel and Charmin toilet paper brands.