Eagle Ridge Investment Management lessened its stake in The Procter & Gamble Company (NYSE:PG – Free Report) by 1.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,572 shares of the company’s stock after selling 202 shares during the quarter. Eagle Ridge Investment Management’s holdings in Procter & Gamble were worth $1,572,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Procter & Gamble by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 224,570,227 shares of the company’s stock worth $28,351,991,000 after purchasing an additional 2,197,165 shares during the period. State Street Corp lifted its position 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 acquiring an additional 797,652 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Procter & Gamble by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 46,243,572 shares of the company’s stock valued at $6,997,559,000 after acquiring an additional 323,292 shares in the last quarter. Morgan Stanley lifted its position in shares of Procter & Gamble by 12.6% in the fourth quarter. Morgan Stanley now owns 44,320,700 shares of the company’s stock valued at $6,717,246,000 after acquiring an additional 4,959,527 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its position in shares of Procter & Gamble by 96,526.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 38,535,557 shares of the company’s stock valued at $5,840,449,000 after acquiring an additional 38,495,676 shares in the last quarter. Institutional investors and hedge funds own 64.65% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the company. Barclays raised their target price on Procter & Gamble from $160.00 to $167.00 in a research report on Wednesday, April 26th. Evercore ISI raised their target price on Procter & Gamble from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Monday, April 24th. Deutsche Bank Aktiengesellschaft raised their target price on Procter & Gamble from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, April 24th. Morgan Stanley increased their price target on Procter & Gamble from $160.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, April 24th. Finally, Raymond James increased their price target on Procter & Gamble from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Sunday, April 23rd. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $161.50.
Procter & Gamble Trading Up 1.6 %
Procter & Gamble (NYSE:PG – Free Report) last issued its quarterly earnings data on Friday, April 21st. The company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.05. Procter & Gamble had a return on equity of 32.18% and a net margin of 17.69%. The business had revenue of $20.07 billion during the quarter, compared to analysts’ expectations of $19.32 billion. During the same period in the previous year, the firm posted $1.33 earnings per share. The company’s revenue was up 3.5% on a year-over-year basis. On average, equities analysts forecast that The Procter & Gamble Company will post 5.86 earnings per share for the current year.
Procter & Gamble Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Friday, April 21st were paid a $0.9407 dividend. The ex-dividend date was Thursday, April 20th. 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 2.48%. Procter & Gamble’s payout ratio is presently 65.51%.
Insider Activity at Procter & Gamble
In related news, CEO Ma. Fatima Francisco sold 8,000 shares of Procter & Gamble stock in a transaction on Monday, April 24th. The stock was 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 directly owns 9,343 shares in the company, valued at $1,465,356.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, COO Shailesh Jejurikar sold 31,000 shares of the business’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $156.03, for a total value of $4,836,930.00. Following the transaction, the chief operating officer now owns 10,014 shares in the company, valued at approximately $1,562,484.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ma. Fatima Francisco sold 8,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $1,465,356.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,093 shares of company stock worth $14,821,930. Company insiders own 0.26% of the company’s stock.
Procter & Gamble Profile
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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