Summit Global Investments Buys 4,212 Shares of The Procter & Gamble Company (NYSE:PG)

Summit Global Investments raised its stake in The Procter & Gamble Company (NYSE:PG - Free Report) by 85.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,157 shares of the company's stock after buying an additional 4,212 shares during the period. Summit Global Investments' holdings in Procter & Gamble were worth $1,561,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. NewSquare Capital LLC increased its stake in Procter & Gamble by 933.3% in the fourth quarter. NewSquare Capital LLC now owns 155 shares of the company's stock valued at $26,000 after acquiring an additional 140 shares during the last quarter. Navigoe LLC bought a new position in shares of Procter & Gamble during the 4th quarter valued at about $31,000. Capital A Wealth Management LLC bought a new position in shares of Procter & Gamble during the 4th quarter valued at about $31,000. Hoey Investments Inc. increased its position in shares of Procter & Gamble by 321.7% during the 4th quarter. Hoey Investments Inc. now owns 194 shares of the company's stock valued at $33,000 after purchasing an additional 148 shares during the last quarter. Finally, LFA Lugano Financial Advisors SA bought a new position in Procter & Gamble during the fourth quarter valued at approximately $34,000. Institutional investors own 65.77% of the company's stock.

Insider Activity at Procter & Gamble

In related news, CEO Jennifer L. Davis sold 1,000 shares of Procter & Gamble stock in a transaction that occurred 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 in the company, valued at $8,386,111.70. The trade was a 1.89% 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, 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 now 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 owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on PG shares. Bank of America reduced their price target 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. Citigroup reduced their target price on shares of Procter & Gamble from $200.00 to $181.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Royal Bank of Canada raised shares of Procter & Gamble from a "sector perform" rating to an "outperform" rating and increased their target price for the company from $164.00 to $177.00 in a report on Friday, April 25th. Raymond James reduced their target price on shares of Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. reduced their price objective on Procter & Gamble from $181.00 to $172.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Eight research 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 company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $178.52.

Procter & Gamble Trading Up 0.8%

Shares of PG stock traded up $1.36 during trading hours on Friday, reaching $169.92. The company's stock had a trading volume of 12,584,837 shares, compared to its average volume of 7,308,668. The stock has a market capitalization of $398.38 billion, a P/E ratio of 27.06, a P/E/G ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a one year low of $156.58 and a one year high of $180.43. The firm's fifty day simple moving average is $164.35 and its 200 day simple moving average is $167.39. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG - Get Free Report) last released 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 business had revenue of $19.78 billion for the quarter, compared to analysts' expectations of $20.42 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The firm's revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.52 earnings per share. Equities research analysts expect that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, April 21st were given a dividend of $1.0568 per share. The ex-dividend date was Monday, April 21st. This represents a $4.23 annualized dividend and a dividend yield of 2.49%. This is a boost from Procter & Gamble's previous quarterly dividend of $1.01. Procter & Gamble's payout ratio is currently 66.98%.

Procter & Gamble Company 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.