Prosperity Consulting Group LLC lessened its holdings in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 4.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,644 shares of the company’s stock after selling 530 shares during the period. Procter & Gamble accounts for 1.0% of Prosperity Consulting Group LLC’s holdings, making the stock its 27th biggest holding. Prosperity Consulting Group LLC’s holdings in Procter & Gamble were worth $1,583,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of PG. Moneta Group Investment Advisors LLC lifted its holdings in shares of Procter & Gamble by 96,526.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 38,535,557 shares of the company’s stock worth $5,840,449,000 after purchasing an additional 38,495,676 shares during the period. Norges Bank acquired a new position in Procter & Gamble in the fourth quarter valued at $3,752,321,000. Morgan Stanley lifted its holdings in 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 buying an additional 4,959,527 shares during the period. Alliancebernstein L.P. lifted its holdings in Procter & Gamble by 43.9% in the fourth quarter. Alliancebernstein L.P. now owns 9,462,510 shares of the company’s stock valued at $1,434,138,000 after buying an additional 2,888,007 shares during the period. Finally, CI Private Wealth LLC acquired a new position in Procter & Gamble in the fourth quarter valued at $292,647,000. Institutional investors and hedge funds own 64.65% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently issued reports on PG shares. Royal Bank of Canada boosted their target price on shares of Procter & Gamble from $160.00 to $165.00 and gave the company a “sector perform” rating in a report on Monday, April 24th. Raymond James boosted their target price 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. Evercore ISI boosted their target price on shares of Procter & Gamble from $160.00 to $170.00 and gave the company an “outperform” rating in a report on Monday, April 24th. Jefferies Financial Group upped their price objective 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. Finally, Barclays upped their price objective on shares of Procter & Gamble from $160.00 to $167.00 in a report on Wednesday, April 26th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $161.50.
Procter & Gamble Trading Down 2.1 %
Procter & Gamble (NYSE:PG – Free Report) last issued its quarterly earnings data on Friday, April 21st. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.05. Procter & Gamble had a net margin of 17.69% and a return on equity of 32.18%. The business had revenue of $20.07 billion during the quarter, compared to the consensus estimate of $19.32 billion. During the same period in the prior year, the firm posted $1.33 EPS. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. Research analysts anticipate that The Procter & Gamble Company will post 5.86 EPS for the current fiscal year.
Procter & Gamble Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Friday, April 21st were given a dividend of $0.9407 per share. This is an increase 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 was Thursday, April 20th. Procter & Gamble’s dividend payout ratio is currently 65.51%.
Insider Activity
In other news, CEO Ma. Fatima Francisco sold 8,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 9,343 shares of the company’s stock, valued at approximately $1,465,356.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Ma. Fatima Francisco sold 8,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 9,343 shares of the company’s stock, valued at approximately $1,465,356.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Shailesh Jejurikar sold 31,000 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $156.03, for a total transaction of $4,836,930.00. Following the sale, the chief operating officer now owns 10,014 shares in the company, valued at $1,562,484.42. The disclosure for this sale can be found here. Insiders sold 95,093 shares of company stock valued at $14,821,930 in the last three months. Company 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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