Tang Capital Management LLC lifted its holdings in shares of The Procter & Gamble Company (NYSE:PG - Free Report) by 54.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,962 shares of the company's stock after buying an additional 2,817 shares during the period. Tang Capital Management LLC's holdings in Procter & Gamble were worth $1,335,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the business. Safe Harbor Fiduciary LLC lifted its position in Procter & Gamble by 3.5% in the fourth quarter. Safe Harbor Fiduciary LLC now owns 2,948 shares of the company's stock valued at $494,000 after purchasing an additional 100 shares during the period. Safeguard Investment Advisory Group LLC lifted its position in Procter & Gamble by 6.9% in the fourth quarter. Safeguard Investment Advisory Group LLC now owns 3,913 shares of the company's stock valued at $656,000 after purchasing an additional 254 shares during the period. Scissortail Wealth Management LLC lifted its position in Procter & Gamble by 19,561.9% in the fourth quarter. Scissortail Wealth Management LLC now owns 4,129 shares of the company's stock valued at $692,000 after purchasing an additional 4,108 shares during the period. Sentinus LLC lifted its position in Procter & Gamble by 12.2% in the fourth quarter. Sentinus LLC now owns 2,405 shares of the company's stock valued at $403,000 after purchasing an additional 262 shares during the period. Finally, Siemens Fonds Invest GmbH lifted its position in Procter & Gamble by 221.5% in the fourth quarter. Siemens Fonds Invest GmbH now owns 216,557 shares of the company's stock valued at $36,306,000 after purchasing an additional 149,190 shares during the period. Institutional investors and hedge funds own 65.77% of the company's stock.
Procter & Gamble Trading Up 0.5%
PG traded up $0.89 during trading on Tuesday, hitting $165.66. The company's stock had a trading volume of 5,574,680 shares, compared to its average volume of 7,247,007. The firm's 50 day moving average price is $164.37 and its 200-day moving average price is $167.30. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55. The stock has a market cap of $388.40 billion, a PE ratio of 26.38, a PEG ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a twelve month low of $156.58 and a twelve month high of $180.43.
Procter & Gamble (NYSE:PG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.01. The company had revenue of $19.78 billion during 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 revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.52 EPS. On average, analysts expect that The Procter & Gamble Company will post 6.91 earnings per share for the current year.
Procter & Gamble Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were issued a $1.0568 dividend. The ex-dividend date was Monday, April 21st. This is an increase from Procter & Gamble's previous quarterly dividend of $1.01. This represents a $4.23 annualized dividend and a yield of 2.55%. Procter & Gamble's payout ratio is 66.98%.
Insider Buying and Selling at Procter & Gamble
In related news, CEO Gary A. Coombe sold 18,000 shares of the company's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $171.66, for a total transaction of $3,089,880.00. Following the completion of the sale, the chief executive officer now directly owns 22,051 shares of the company's stock, valued at approximately $3,785,274.66. This represents a 44.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jennifer L. Davis sold 1,000 shares of the company's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total transaction of $161,380.00. Following the sale, the chief executive officer now directly owns 51,965 shares of the company's stock, valued at approximately $8,386,111.70. This trade represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 64,520 shares of company stock worth $10,999,268. Insiders own 0.18% of the company's stock.
Wall Street Analyst Weigh In
PG has been the subject of a number of recent analyst reports. Bank of America reduced their price objective on shares of Procter & Gamble from $190.00 to $180.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Morgan Stanley set a $180.00 target price on shares of Procter & Gamble and gave the company an "overweight" rating in a report on Friday, April 25th. UBS Group reaffirmed a "buy" rating on shares of Procter & Gamble in a report on Monday, February 10th. DA Davidson reaffirmed a "buy" rating and issued a $209.00 target price on shares of Procter & Gamble in a report on Thursday, January 23rd. Finally, Citigroup dropped their target price on shares of Procter & Gamble from $200.00 to $181.00 and set a "buy" rating for the company in a report on Friday, April 25th. Eight analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $178.52.
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About Procter & Gamble
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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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