Carnegie Investment Counsel Acquires 11,140 Shares of Procter & Gamble Company (The) (NYSE:PG)

Carnegie Investment Counsel grew its position in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 18.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 70,067 shares of the company's stock after purchasing an additional 11,140 shares during the quarter. Carnegie Investment Counsel's holdings in Procter & Gamble were worth $11,351,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Navigoe LLC bought a new stake in shares of Procter & Gamble in the 4th quarter valued at $31,000. Capital A Wealth Management LLC bought a new position in Procter & Gamble during the fourth quarter worth $31,000. Hoey Investments Inc. grew its holdings in Procter & Gamble by 321.7% in the fourth quarter. Hoey Investments Inc. now owns 194 shares of the company's stock worth $33,000 after purchasing an additional 148 shares during the period. 10Elms LLP bought a new stake in Procter & Gamble in the fourth quarter valued at $34,000. Finally, Sunbeam Capital Management LLC bought a new position in shares of Procter & Gamble during the 4th quarter worth about $34,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PG has been the subject of a number of research analyst reports. Bank of America decreased their target price on Procter & Gamble from $190.00 to $180.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Citigroup reduced their price objective on Procter & Gamble from $200.00 to $181.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Morgan Stanley set a $180.00 target price on Procter & Gamble and gave the stock an "overweight" rating in a research report on Friday, April 25th. Redburn Atlantic cut Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 target price on the stock. in a report on Thursday, May 1st. Finally, Royal Bank Of Canada upgraded shares of Procter & Gamble from a "sector perform" rating to an "outperform" rating and boosted their price target for the company from $164.00 to $177.00 in a research note on Friday, April 25th. Nine research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $176.12.

Procter & Gamble Stock Performance

Shares of PG traded down $0.53 on Friday, reaching $158.28. 5,799,883 shares of the company's stock traded hands, compared to its average volume of 9,070,670. The stock's 50 day simple moving average is $161.12 and its two-hundred day simple moving average is $164.24. The company has a current ratio of 0.71, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47. Procter & Gamble Company has a 52-week low of $151.90 and a 52-week high of $180.43. The stock has a market cap of $371.10 billion, a PE ratio of 25.12, a PEG ratio of 4.52 and a beta of 0.40.

Procter & Gamble (NYSE:PG - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.01. The firm had revenue of $19.78 billion during the quarter, compared to analyst estimates of $20.42 billion. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.46%. The business's revenue was down 2.1% compared to the same quarter last year. During the same period last year, the firm posted $1.52 EPS. On average, analysts forecast that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be issued a dividend of $1.0568 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $4.23 dividend on an annualized basis and a yield of 2.67%. Procter & Gamble's dividend payout ratio (DPR) is presently 67.14%.

Insider Activity

In related news, insider Moses Victor Javier Aguilar sold 10,520 shares of Procter & Gamble stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $158.67, for a total value of $1,669,208.40. Following the sale, the insider owned 25,182 shares of the company's stock, valued at approximately $3,995,627.94. The trade was a 29.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jennifer L. Davis sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total value of $161,380.00. Following the completion of the transaction, the chief executive officer owned 51,965 shares in the company, valued at approximately $8,386,111.70. The trade was a 1.89% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Procter & Gamble Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.