Beach Investment Counsel Inc. PA trimmed its position in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 3.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,976 shares of the company’s stock after selling 1,460 shares during the quarter. Beach Investment Counsel Inc. PA’s holdings in Procter & Gamble were worth $6,390,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in PG. EWG Elevate Inc. acquired a new stake in Procter & Gamble in the 4th quarter valued at $26,000. Silicon Valley Capital Partners acquired a new stake in Procter & Gamble in the 4th quarter valued at $28,000. Legend Financial Advisors Inc. acquired a new stake in Procter & Gamble in the 3rd quarter valued at $30,000. Luken Investment Analytics LLC acquired a new stake in Procter & Gamble in the 4th quarter valued at $37,000. Finally, Bourgeon Capital Management LLC grew its stake in Procter & Gamble by 39.9% in the 4th quarter. Bourgeon Capital Management LLC now owns 249 shares of the company’s stock valued at $38,000 after acquiring an additional 71 shares during the period. 64.65% of the stock is owned by hedge funds and other institutional investors.
Procter & Gamble Trading Down 2.1 %
Shares of PG stock opened at $148.80 on Friday. The company’s 50-day moving average price is $149.97 and its 200-day moving average price is $147.38. The company has a current ratio of 0.59, a quick ratio of 0.39 and a debt-to-equity ratio of 0.51. The stock has a market cap of $350.72 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 3.83 and a beta of 0.42. The Procter & Gamble Company has a twelve month low of $122.18 and a twelve month high of $158.11.
Procter & Gamble Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Friday, April 21st were issued a $0.9407 dividend. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.91. This represents a $3.76 annualized dividend and a yield of 2.53%. The ex-dividend date was Thursday, April 20th. Procter & Gamble’s payout ratio is 65.51%.
Insider Activity at Procter & Gamble
In related news, insider Susan Street Whaley sold 4,852 shares of the business’s stock in a transaction dated Wednesday, April 26th. The shares were sold at an average price of $155.47, for a total value of $754,340.44. Following the sale, the insider now directly owns 7,977 shares in the company, valued at approximately $1,240,184.19. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Procter & Gamble news, CFO Andre Schulten sold 25,244 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 27,118 shares in the company, valued at $4,210,611.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Susan Street Whaley sold 4,852 shares of the business’s stock in a transaction dated Wednesday, April 26th. The stock was 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 in the company, valued at $1,240,184.19. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,093 shares of company stock worth $14,821,930. Company insiders own 0.26% of the company’s stock.
Analyst Ratings Changes
A number of research firms recently issued reports on PG. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Procter & Gamble from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, April 24th. StockNews.com initiated coverage on shares of Procter & Gamble in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Jefferies Financial Group lifted their target price on shares of Procter & Gamble from $171.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, April 24th. Royal Bank of Canada lifted their target price on shares of Procter & Gamble from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research note on Monday, April 24th. Finally, Morgan Stanley lifted their target price on shares of Procter & Gamble from $160.00 to $174.00 and gave the stock an “overweight” rating in a research note on Monday, April 24th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Procter & Gamble presently has an average rating of “Moderate Buy” and a consensus target price of $161.50.
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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