Dover Advisors LLC increased its holdings in shares of The Procter & Gamble Company (NYSE:PG - Free Report) by 77.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,326 shares of the company's stock after buying an additional 5,808 shares during the period. Procter & Gamble accounts for about 1.0% of Dover Advisors LLC's investment portfolio, making the stock its 29th biggest holding. Dover Advisors LLC's holdings in Procter & Gamble were worth $2,271,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in PG. Vanguard Group Inc. increased its position in Procter & Gamble by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 229,794,073 shares of the company's stock worth $38,524,976,000 after acquiring an additional 1,592,061 shares during the period. Geode Capital Management LLC boosted its stake in shares of Procter & Gamble by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 56,472,195 shares of the company's stock valued at $9,457,000,000 after purchasing an additional 1,267,419 shares in the last quarter. Norges Bank acquired a new stake in shares of Procter & Gamble in the 4th quarter valued at approximately $5,244,463,000. Northern Trust Corp boosted its stake in shares of Procter & Gamble by 10.1% in the 4th quarter. Northern Trust Corp now owns 29,395,208 shares of the company's stock valued at $4,928,107,000 after purchasing an additional 2,703,757 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Procter & Gamble by 6.4% in the 4th quarter. Franklin Resources Inc. now owns 20,197,996 shares of the company's stock valued at $3,386,194,000 after purchasing an additional 1,209,275 shares in the last quarter. 65.77% of the stock is owned by institutional investors.
Procter & Gamble Trading Down 1.9%
Shares of NYSE PG traded down $3.12 during trading hours on Friday, hitting $160.06. 7,093,816 shares of the company traded hands, compared to its average volume of 7,381,974. The stock has a market capitalization of $375.27 billion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 3.76 and a beta of 0.43. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The company's 50 day moving average price is $163.75 and its 200 day moving average price is $166.73. The Procter & Gamble Company has a 12 month low of $156.58 and a 12 month high of $180.43.
Procter & Gamble (NYSE:PG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.53 by $0.01. The company had revenue of $19.78 billion for the quarter, compared to the consensus estimate of $20.42 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. Procter & Gamble's quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.52 EPS. On average, equities research analysts anticipate that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.
Procter & Gamble Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, April 21st were given a dividend of $1.0568 per share. This is an increase from Procter & Gamble's previous quarterly dividend of $1.01. The ex-dividend date was Monday, April 21st. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.64%. Procter & Gamble's dividend payout ratio is presently 66.98%.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the stock. Evercore ISI reiterated an "outperform" rating and set a $190.00 target price (up from $170.00) on shares of Procter & Gamble in a research report on Tuesday, June 3rd. Bank of America cut their target price on shares of Procter & Gamble from $190.00 to $180.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Morgan Stanley set a $180.00 price target on shares of Procter & Gamble and gave the stock an "overweight" rating in a report on Friday, April 25th. Barclays restated an "equal weight" rating on shares of Procter & Gamble in a report on Thursday, March 27th. Finally, Redburn Partners set a $161.00 price target on shares of Procter & Gamble in a report on Thursday, May 1st. Eight investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $178.86.
Check Out Our Latest Analysis on PG
Insider Buying and Selling
In other Procter & Gamble news, CEO Jennifer L. Davis sold 1,000 shares of the stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total value of $161,380.00. Following the completion of the sale, the chief executive officer now directly owns 51,965 shares in the company, valued at approximately $8,386,111.70. This trade represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 25,182 shares in the company, valued at $3,995,627.94. This represents a 29.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.
Procter & Gamble Company Profile
(
Free Report)
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.
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