Summit Financial Group Inc. cut its position in shares of The Procter & Gamble Company (NYSE:PG – Get Rating) by 0.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,422 shares of the company’s stock after selling 80 shares during the quarter. Procter & Gamble accounts for 2.6% of Summit Financial Group Inc.’s portfolio, making the stock its 5th biggest holding. Summit Financial Group Inc.’s holdings in Procter & Gamble were worth $6,754,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Mutual Advisors LLC boosted its holdings in Procter & Gamble by 2.4% during the first quarter. Mutual Advisors LLC now owns 53,800 shares of the company’s stock valued at $7,999,000 after purchasing an additional 1,281 shares in the last quarter. Enterprise Bank & Trust Co boosted its holdings in Procter & Gamble by 1.2% during the first quarter. Enterprise Bank & Trust Co now owns 6,921 shares of the company’s stock valued at $1,029,000 after purchasing an additional 80 shares in the last quarter. Columbia Trust Co 01012016 boosted its holdings in Procter & Gamble by 11.3% during the first quarter. Columbia Trust Co 01012016 now owns 11,313 shares of the company’s stock valued at $1,682,000 after purchasing an additional 1,150 shares in the last quarter. MPS Loria Financial Planners LLC boosted its holdings in Procter & Gamble by 2.8% during the first quarter. MPS Loria Financial Planners LLC now owns 3,492 shares of the company’s stock valued at $519,000 after purchasing an additional 96 shares in the last quarter. Finally, Pure Financial Advisors LLC boosted its holdings in Procter & Gamble by 18.6% during the first quarter. Pure Financial Advisors LLC now owns 9,352 shares of the company’s stock valued at $1,391,000 after purchasing an additional 1,466 shares in the last quarter. 64.65% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the company. Barclays lifted their price objective on Procter & Gamble from $160.00 to $167.00 in a report on Wednesday, April 26th. Raymond James boosted their target price on Procter & Gamble from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Sunday, April 23rd. StockNews.com began coverage on Procter & Gamble in a report on Thursday, May 18th. They issued a “buy” rating on the stock. Truist Financial downgraded Procter & Gamble from a “buy” rating to a “hold” rating and reduced their target price for the stock from $165.00 to $155.00 in a report on Thursday, May 18th. Finally, Evercore ISI boosted their target price on Procter & Gamble from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Monday, April 24th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $161.50.
Procter & Gamble Stock Performance
Procter & Gamble (NYSE:PG – Get Rating) last issued its earnings results on Friday, April 21st. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.32 by $0.05. The company had revenue of $20.07 billion during the quarter, compared to analysts’ expectations of $19.32 billion. Procter & Gamble had a net margin of 17.69% and a return on equity of 32.18%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 EPS. Analysts forecast that The Procter & Gamble Company will post 5.86 EPS for the current year.
Procter & Gamble Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Friday, April 21st were given a dividend of $0.9407 per share. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Thursday, April 20th. This represents a $3.76 annualized dividend and a dividend yield of 2.51%. Procter & Gamble’s payout ratio is presently 65.51%.
Insider Buying and Selling at Procter & Gamble
In other Procter & Gamble news, CEO Ma. Fatima Francisco sold 8,000 shares of the company’s stock in a transaction on Monday, April 24th. The shares were sold at an average price of $156.84, for a total transaction of $1,254,720.00. Following the completion of the sale, the chief executive officer now owns 9,343 shares in the company, valued at approximately $1,465,356.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Ma. Fatima Francisco sold 8,000 shares of the business’s stock in a transaction on Monday, April 24th. The shares were sold at an average price of $156.84, for a total value of $1,254,720.00. Following the completion of the transaction, the chief executive officer now owns 9,343 shares of the company’s stock, valued at approximately $1,465,356.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Andre Schulten sold 25,244 shares of the business’s stock in a transaction on Monday, April 24th. The shares were sold at an average price of $155.27, for a total transaction of $3,919,635.88. Following the completion of the transaction, the chief financial officer now directly owns 27,118 shares of the company’s stock, valued at approximately $4,210,611.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 95,093 shares of company stock worth $14,821,930. Insiders own 0.26% of the company’s stock.
About Procter & Gamble
The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.
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