Eastern Bank cut its position in shares of The Procter & Gamble Company (NYSE:PG – Get Rating) by 3.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,544 shares of the company’s stock after selling 1,937 shares during the period. Eastern Bank’s holdings in Procter & Gamble were worth $8,115,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Ledyard National Bank raised its stake in Procter & Gamble by 1.2% during the third quarter. Ledyard National Bank now owns 81,058 shares of the company’s stock worth $10,233,000 after purchasing an additional 961 shares during the period. Autumn Glory Partners LLC raised its stake in shares of Procter & Gamble by 38.9% in the 3rd quarter. Autumn Glory Partners LLC now owns 10,954 shares of the company’s stock valued at $1,383,000 after acquiring an additional 3,070 shares during the period. Private Wealth Partners LLC raised its stake in shares of Procter & Gamble by 9.4% in the 3rd quarter. Private Wealth Partners LLC now owns 28,407 shares of the company’s stock valued at $3,586,000 after acquiring an additional 2,445 shares during the period. Oak Harbor Wealth Partners LLC raised its stake in shares of Procter & Gamble by 11.1% in the 4th quarter. Oak Harbor Wealth Partners LLC now owns 30,891 shares of the company’s stock valued at $4,682,000 after acquiring an additional 3,089 shares during the period. Finally, Udine Wealth Management Inc. purchased a new stake in shares of Procter & Gamble in the 3rd quarter valued at approximately $752,000. 62.13% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on PG shares. Wells Fargo & Company reduced their price target on shares of Procter & Gamble from $168.00 to $162.00 and set an “overweight” rating on the stock in a research note on Friday, January 20th. Citigroup began coverage on shares of Procter & Gamble in a report on Thursday, February 16th. They issued a “buy” rating and a $160.00 price objective for the company. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Procter & Gamble from $162.00 to $156.00 in a report on Monday, March 20th. Barclays dropped their price objective on shares of Procter & Gamble from $161.00 to $158.00 and set an “overweight” rating for the company in a report on Monday, January 23rd. Finally, JPMorgan Chase & Co. upgraded shares of Procter & Gamble from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $150.00 to $155.00 in a report on Friday, March 3rd. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $155.27.
Procter & Gamble Trading Up 0.5 %
Procter & Gamble (NYSE:PG – Get Rating) last issued its quarterly earnings data on Thursday, January 19th. The company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.01. The business had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $20.75 billion. Procter & Gamble had a net margin of 17.79% and a return on equity of 32.03%. The company’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.66 EPS. As a group, research analysts expect that The Procter & Gamble Company will post 5.84 EPS for the current fiscal year.
Procter & Gamble Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 15th. Investors of record on Friday, January 20th were given a $0.9133 dividend. The ex-dividend date was Thursday, January 19th. This represents a $3.65 annualized dividend and a yield of 2.43%. Procter & Gamble’s dividend payout ratio (DPR) is 64.04%.
Insider Activity at Procter & Gamble
In related news, insider Susan Street Whaley sold 709 shares of the company’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $137.34, for a total value of $97,374.06. Following the completion of the sale, the insider now owns 10,198 shares in the company, valued at approximately $1,400,593.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Procter & Gamble news, CEO Jon R. Moeller sold 2,151 shares of the company’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $137.34, for a total transaction of $295,418.34. Following the completion of the transaction, the chief executive officer now owns 226,748 shares in the company, valued at approximately $31,141,570.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Susan Street Whaley sold 709 shares of the company’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $137.34, for a total transaction of $97,374.06. Following the transaction, the insider now owns 10,198 shares of the company’s stock, valued at approximately $1,400,593.32. The disclosure for this sale can be found here. Insiders sold a total of 4,766 shares of company stock worth $656,511 in the last 90 days. 0.26% of the stock is owned by insiders.
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 & Home Care, and Baby, Feminine & 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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