Beech Hill Advisors Inc. grew its holdings in The Procter & Gamble Company (NYSE:PG – Get Rating) by 2.0% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 20,067 shares of the company’s stock after buying an additional 389 shares during the period. Beech Hill Advisors Inc.’s holdings in Procter & Gamble were worth $2,984,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in PG. Keystone Wealth Services LLC lifted its holdings in Procter & Gamble by 2.7% in the 1st quarter. Keystone Wealth Services LLC now owns 2,562 shares of the company’s stock worth $381,000 after purchasing an additional 67 shares in the last quarter. Newbridge Financial Services Group Inc. grew its position in shares of Procter & Gamble by 1.8% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,824 shares of the company’s stock valued at $580,000 after purchasing an additional 69 shares in the last quarter. Calton & Associates Inc. lifted its position in shares of Procter & Gamble by 2.0% in the fourth quarter. Calton & Associates Inc. now owns 3,536 shares of the company’s stock worth $536,000 after buying an additional 71 shares in the last quarter. Bourgeon Capital Management LLC grew its holdings in Procter & Gamble by 39.9% during the 4th quarter. Bourgeon Capital Management LLC now owns 249 shares of the company’s stock valued at $38,000 after buying an additional 71 shares in the last quarter. Finally, Atticus Wealth Management LLC increased its stake in Procter & Gamble by 0.8% in the 4th quarter. Atticus Wealth Management LLC now owns 8,751 shares of the company’s stock worth $1,326,000 after acquiring an additional 71 shares during the last quarter. 64.65% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
PG has been the subject of a number of recent research reports. Jefferies Financial Group raised their target price on shares of Procter & Gamble from $171.00 to $175.00 and gave the company a “buy” rating in a report on Monday, April 24th. UBS Group upped their target price on shares of Procter & Gamble from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, April 24th. Royal Bank of Canada lifted their price target on Procter & Gamble from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Monday, April 24th. Morgan Stanley raised their price target on Procter & Gamble from $160.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, April 24th. Finally, Raymond James upped their price target on shares of Procter & Gamble from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Sunday, April 23rd. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Procter & Gamble currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.50.
Procter & Gamble Stock Performance
Procter & Gamble (NYSE:PG – Get Rating) last announced its quarterly earnings results on Friday, April 21st. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.05. The firm 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 company’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.33 EPS. As a group, equities research analysts forecast that The Procter & Gamble Company will post 5.86 EPS for the current fiscal year.
Procter & Gamble Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Friday, April 21st were issued a $0.9407 dividend. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.91. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend was Thursday, April 20th. Procter & Gamble’s dividend payout ratio (DPR) is currently 65.51%.
Insider Transactions at Procter & Gamble
In other Procter & Gamble news, CAO Matthew W. Janzaruk sold 13,697 shares of the firm’s stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $155.76, for a total value of $2,133,444.72. Following the completion of the sale, the chief accounting officer now directly owns 883 shares in the company, valued at $137,536.08. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Procter & Gamble news, insider Susan Street Whaley sold 4,852 shares of the business’s stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $155.47, for a total transaction of $754,340.44. Following the sale, the insider now owns 7,977 shares of the company’s stock, valued at approximately $1,240,184.19. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Matthew W. Janzaruk sold 13,697 shares of the firm’s stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $155.76, for a total transaction of $2,133,444.72. Following the completion of the transaction, the chief accounting officer now directly owns 883 shares of the company’s stock, valued at approximately $137,536.08. The disclosure for this sale can be found here. Insiders have sold a total of 95,093 shares of company stock valued at $14,821,930 in the last 90 days. 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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