Alpha Cubed Investments LLC cut its position in shares of The Procter & Gamble Company (NYSE:PG – Get Rating) by 16.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 85,488 shares of the company’s stock after selling 17,175 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Procter & Gamble were worth $12,957,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Procter & Gamble by 1.0% during the third quarter. Vanguard Group Inc. now owns 224,570,227 shares of the company’s stock worth $28,351,991,000 after acquiring an additional 2,197,165 shares during the last quarter. BlackRock Inc. grew its stake in shares of Procter & Gamble by 1.1% in the third quarter. BlackRock Inc. now owns 161,904,833 shares of the company’s stock valued at $20,440,487,000 after buying an additional 1,811,085 shares in the last quarter. State Street Corp grew its stake in shares of Procter & Gamble by 0.8% in the third quarter. State Street Corp now owns 104,749,256 shares of the company’s stock valued at $13,224,594,000 after buying an additional 797,652 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Procter & Gamble by 3.6% in the second quarter. Legal & General Group Plc now owns 18,536,142 shares of the company’s stock valued at $2,665,327,000 after buying an additional 637,095 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Procter & Gamble by 22.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 16,567,690 shares of the company’s stock valued at $2,382,268,000 after buying an additional 3,054,844 shares in the last quarter. 62.13% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Procter & Gamble
In other news, CFO Andre Schulten sold 1,311 shares of the stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $137.34, for a total transaction of $180,052.74. Following the sale, the chief financial officer now directly owns 35,142 shares in the company, valued at approximately $4,826,402.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Jon R. Moeller sold 2,151 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $137.34, for a total value of $295,418.34. Following the sale, the chief executive officer now directly owns 226,748 shares in the company, valued at approximately $31,141,570.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Andre Schulten sold 1,311 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $137.34, for a total value of $180,052.74. Following the completion of the sale, the chief financial officer now owns 35,142 shares in the company, valued at $4,826,402.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,766 shares of company stock worth $656,511. 0.26% of the stock is currently owned by company insiders.
Procter & Gamble Trading Up 0.7 %
Procter & Gamble (NYSE:PG – Get Rating) last released its earnings results on Thursday, January 19th. The company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.01. The company had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $20.75 billion. Procter & Gamble had a return on equity of 32.03% and a net margin of 17.79%. Procter & Gamble’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the business posted $1.66 EPS. On average, analysts predict that The Procter & Gamble Company will post 5.84 EPS for the current year.
Procter & Gamble Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 15th. Stockholders of record on Friday, January 20th were given a dividend of $0.9133 per share. This represents a $3.65 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend was Thursday, January 19th. Procter & Gamble’s payout ratio is 64.04%.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on PG. StockNews.com began coverage on Procter & Gamble in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Wells Fargo & Company lowered their target price on Procter & Gamble from $168.00 to $162.00 and set an “overweight” rating for the company in a research note on Friday, January 20th. Raymond James increased their target price on Procter & Gamble from $165.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, January 13th. Citigroup began coverage on Procter & Gamble in a report on Thursday, February 16th. They issued a “buy” rating and a $160.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Procter & Gamble from $162.00 to $156.00 in a report on Monday, March 20th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Procter & Gamble currently has an average rating of “Moderate Buy” and an average price target of $155.27.
Procter & Gamble 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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