Heritage Wealth Management Inc. lowered its holdings in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 1.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 113,600 shares of the company's stock after selling 1,958 shares during the quarter. Procter & Gamble comprises about 6.6% of Heritage Wealth Management Inc.'s investment portfolio, making the stock its largest position. Heritage Wealth Management Inc.'s holdings in Procter & Gamble were worth $19,360,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Envestnet Asset Management Inc. boosted its stake in Procter & Gamble by 8.6% in the first quarter. Envestnet Asset Management Inc. now owns 3,398,486 shares of the company's stock worth $579,170,000 after purchasing an additional 268,128 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in Procter & Gamble by 7.5% in the first quarter. Hexagon Capital Partners LLC now owns 12,479 shares of the company's stock worth $2,127,000 after purchasing an additional 873 shares in the last quarter. Hendley & Co. Inc. boosted its stake in Procter & Gamble by 0.5% in the first quarter. Hendley & Co. Inc. now owns 49,358 shares of the company's stock worth $8,412,000 after purchasing an additional 253 shares in the last quarter. Chilton Capital Management LLC lifted its stake in shares of Procter & Gamble by 7.1% during the first quarter. Chilton Capital Management LLC now owns 190,538 shares of the company's stock valued at $32,471,000 after acquiring an additional 12,562 shares during the period. Finally, Financiere des Professionnels Fonds d investissement inc. acquired a new position in shares of Procter & Gamble during the first quarter valued at $119,000. Institutional investors and hedge funds own 65.77% of the company's stock.
Procter & Gamble Stock Down 0.9%
Shares of NYSE PG traded down $1.41 during mid-day trading on Wednesday, reaching $156.48. 6,500,359 shares of the company's stock were exchanged, compared to its average volume of 7,518,018. The firm has a market capitalization of $366.87 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 4.57 and a beta of 0.40. The company has a current ratio of 0.71, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $161.98 and a 200 day simple moving average of $165.15. Procter & Gamble Company has a twelve month low of $156.29 and a twelve month high of $180.43.
Procter & Gamble (NYSE:PG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.54 EPS for the quarter, topping analysts' consensus estimates of $1.53 by $0.01. The company had revenue of $19.78 billion for 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%. Procter & Gamble's revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.52 earnings per share. As a group, equities analysts expect that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.
Procter & Gamble Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be given a dividend of $1.0568 per share. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.70%. Procter & Gamble's dividend payout ratio is currently 67.14%.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on PG shares. Erste Group Bank lowered Procter & Gamble from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Morgan Stanley set a $180.00 price target on Procter & Gamble and gave the company an "overweight" rating in a research note on Friday, April 25th. Barclays reaffirmed an "equal weight" rating on shares of Procter & Gamble in a research note on Thursday, March 27th. Bank of America cut their price target on Procter & Gamble from $190.00 to $180.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Finally, Evercore ISI reaffirmed an "outperform" rating and set a $190.00 price target (up previously from $170.00) on shares of Procter & Gamble in a research note on Tuesday, June 3rd. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $178.45.
View Our Latest Stock Analysis on PG
Insider Transactions at Procter & Gamble
In other news, insider Moses Victor Javier Aguilar sold 10,520 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the sale, the insider owned 25,182 shares of the company's stock, valued at $3,995,627.94. This trade represents a 29.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction, the chief executive officer owned 51,965 shares of the company's stock, valued at approximately $8,386,111.70. The trade was a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.
About Procter & Gamble
(
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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