Hartford Investment Management Co. reduced its holdings in shares of Procter & Gamble Co (NYSE:PG) by 4.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 392,607 shares of the company’s stock after selling 19,333 shares during the period. Procter & Gamble comprises 1.4% of Hartford Investment Management Co.’s portfolio, making the stock its 8th largest holding. Hartford Investment Management Co.’s holdings in Procter & Gamble were worth $48,832,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Krane Funds Advisors LLC purchased a new stake in shares of Procter & Gamble in the second quarter worth $25,000. Lucia Wealth Services LLC purchased a new stake in shares of Procter & Gamble in the third quarter worth $29,000. Camarda Financial Advisors LLC increased its stake in shares of Procter & Gamble by 59.2% in the second quarter. Camarda Financial Advisors LLC now owns 269 shares of the company’s stock worth $29,000 after purchasing an additional 100 shares in the last quarter. Dougherty Wealth Advisers LLC increased its stake in shares of Procter & Gamble by 250.0% in the second quarter. Dougherty Wealth Advisers LLC now owns 350 shares of the company’s stock worth $38,000 after purchasing an additional 250 shares in the last quarter. Finally, Princeton Global Asset Management LLC increased its stake in shares of Procter & Gamble by 51.4% in the second quarter. Princeton Global Asset Management LLC now owns 442 shares of the company’s stock worth $48,000 after purchasing an additional 150 shares in the last quarter. 65.64% of the stock is owned by institutional investors and hedge funds.
In other Procter & Gamble news, CEO Marylynn Fergusonmchugh sold 37,027 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $116.00, for a total transaction of $4,295,132.00. Following the completion of the transaction, the chief executive officer now owns 112,703 shares in the company, valued at $13,073,548. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Valarie L. Sheppard sold 17,000 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $120.20, for a total transaction of $2,043,400.00. The disclosure for this sale can be found here. Insiders have sold 492,519 shares of company stock valued at $58,596,988 in the last quarter. 1.75% of the stock is owned by company insiders.
PG stock opened at $123.48 on Tuesday. Procter & Gamble Co has a 52 week low of $86.74 and a 52 week high of $125.77. The company has a quick ratio of 0.58, a current ratio of 0.72 and a debt-to-equity ratio of 0.44. The company has a fifty day simple moving average of $121.85 and a two-hundred day simple moving average of $114.11. The firm has a market capitalization of $311.20 billion, a P/E ratio of 27.32, a price-to-earnings-growth ratio of 3.50 and a beta of 0.42.
Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.13. Procter & Gamble had a net margin of 6.24% and a return on equity of 25.07%. The business had revenue of $17.80 billion during the quarter, compared to analyst estimates of $17.43 billion. During the same quarter last year, the business earned $1.12 earnings per share. Procter & Gamble’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, analysts anticipate that Procter & Gamble Co will post 4.93 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a dividend of $0.7459 per share. The ex-dividend date of this dividend is Thursday, October 17th. This represents a $2.98 annualized dividend and a yield of 2.42%. Procter & Gamble’s dividend payout ratio (DPR) is currently 65.93%.
PG has been the subject of a number of analyst reports. Scotiabank reissued a “buy” rating on shares of Procter & Gamble in a research note on Friday, July 5th. Morgan Stanley increased their price objective on shares of Procter & Gamble from $130.00 to $134.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. SunTrust Banks upped their target price on shares of Procter & Gamble to $120.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Goldman Sachs Group restated a “buy” rating and set a $136.00 target price on shares of Procter & Gamble in a research report on Wednesday, October 23rd. Finally, Stifel Nicolaus set a $117.00 target price on shares of Procter & Gamble and gave the stock a “hold” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company. Procter & Gamble has an average rating of “Hold” and a consensus target price of $115.00.
About Procter & Gamble
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.
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