Summit X LLC Raises Stake in The Procter & Gamble Company (NYSE:PG)

Summit X LLC boosted its position in The Procter & Gamble Company (NYSE:PG) by 0.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,888 shares of the company’s stock after buying an additional 73 shares during the quarter. Procter & Gamble makes up approximately 1.0% of Summit X LLC’s portfolio, making the stock its 25th biggest position. Summit X LLC’s holdings in Procter & Gamble were worth $4,675,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. HighTower Advisors LLC boosted its stake in shares of Procter & Gamble by 9.4% during the fourth quarter. HighTower Advisors LLC now owns 2,511,046 shares of the company’s stock valued at $420,977,000 after purchasing an additional 215,226 shares during the period. Windle Wealth LLC boosted its stake in shares of Procter & Gamble by 3.4% during the fourth quarter. Windle Wealth LLC now owns 47,785 shares of the company’s stock valued at $8,011,000 after purchasing an additional 1,583 shares during the period. Moors & Cabot Inc. boosted its stake in shares of Procter & Gamble by 1.5% during the fourth quarter. Moors & Cabot Inc. now owns 146,599 shares of the company’s stock valued at $24,577,000 after purchasing an additional 2,186 shares during the period. Prosperity Financial Group Inc. boosted its stake in shares of Procter & Gamble by 2.6% during the fourth quarter. Prosperity Financial Group Inc. now owns 4,185 shares of the company’s stock valued at $702,000 after purchasing an additional 107 shares during the period. Finally, Natural Investments LLC bought a new position in shares of Procter & Gamble during the fourth quarter valued at approximately $2,121,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PG. Barclays raised their price target on Procter & Gamble from $155.00 to $159.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. DA Davidson reaffirmed a “buy” rating and issued a $209.00 price target on shares of Procter & Gamble in a research note on Thursday, January 23rd. UBS Group reaffirmed a “buy” rating on shares of Procter & Gamble in a research note on Monday, February 10th. JPMorgan Chase & Co. dropped their price target on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $164.00 price target on shares of Procter & Gamble in a research note on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.47.

Insider Buying and Selling

In related news, CEO Gary A. Coombe sold 18,000 shares of Procter & Gamble stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $171.66, for a total value of $3,089,880.00. Following the completion of the sale, the chief executive officer now directly owns 22,051 shares in the company, valued at approximately $3,785,274.66. This trade represents a 44.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marc S. Pritchard sold 90,450 shares of Procter & Gamble stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total value of $14,819,328.00. Following the completion of the sale, the insider now owns 172,814 shares of the company’s stock, valued at $28,313,845.76. The trade was a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 143,450 shares of company stock worth $23,988,008. 0.18% of the stock is owned by corporate insiders.

Procter & Gamble Price Performance

PG opened at $173.07 on Wednesday. The stock has a 50-day moving average price of $167.14 and a 200-day moving average price of $169.84. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55. The firm has a market cap of $405.83 billion, a PE ratio of 27.56, a P/E/G ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a 1 year low of $153.52 and a 1 year high of $180.43.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.02. The firm had revenue of $21.88 billion during the quarter, compared to analyst estimates of $21.66 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. Procter & Gamble’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.84 EPS. Sell-side analysts predict that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 24th were issued a $1.0065 dividend. The ex-dividend date of this dividend was Friday, January 24th. This represents a $4.03 annualized dividend and a yield of 2.33%. Procter & Gamble’s payout ratio is 64.01%.

Procter & Gamble Company Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.