Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its holdings in shares of Procter & Gamble Co (NYSE:PG) by 10.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 679,243 shares of the company’s stock after selling 75,600 shares during the quarter. Procter & Gamble makes up approximately 1.2% of Fjarde AP Fonden Fourth Swedish National Pension Fund’s portfolio, making the stock its 11th largest holding. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Procter & Gamble were worth $74,717,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Geode Capital Management LLC raised its holdings in Procter & Gamble by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 41,396,782 shares of the company’s stock valued at $5,161,642,000 after buying an additional 1,216,202 shares in the last quarter. Norges Bank acquired a new position in shares of Procter & Gamble during the 4th quarter valued at about $3,338,757,000. Bank of New York Mellon Corp increased its holdings in shares of Procter & Gamble by 2.5% during the 1st quarter. Bank of New York Mellon Corp now owns 25,032,488 shares of the company’s stock valued at $2,753,574,000 after acquiring an additional 600,867 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Procter & Gamble by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,341,606 shares of the company’s stock valued at $1,916,167,000 after acquiring an additional 305,661 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Procter & Gamble by 6.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,083,885 shares of the company’s stock worth $1,219,227,000 after purchasing an additional 666,406 shares during the last quarter. Hedge funds and other institutional investors own 62.39% of the company’s stock.
In other news, VP Valarie L. Sheppard sold 25,600 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $119.50, for a total value of $3,059,200.00. Following the sale, the vice president now directly owns 50,598 shares in the company, valued at approximately $6,046,461. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Nelson Peltz sold 404,714 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $113.01, for a total value of $45,736,729.14. Following the completion of the transaction, the director now directly owns 3,891 shares of the company’s stock, valued at $439,721.91. The disclosure for this sale can be found here. Insiders have sold a total of 8,802,488 shares of company stock valued at $1,048,532,939 over the last ninety days. 1.75% of the stock is owned by insiders.
Procter & Gamble (NYSE:PG) last issued its earnings results on Friday, April 17th. The company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.04. Procter & Gamble had a return on equity of 29.15% and a net margin of 7.09%. The business had revenue of $17.21 billion during the quarter, compared to analyst estimates of $17.29 billion. During the same period in the prior year, the company posted $1.06 earnings per share. Procter & Gamble’s revenue was up 4.6% on a year-over-year basis. Sell-side analysts forecast that Procter & Gamble Co will post 4.95 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, April 24th were paid a $0.7907 dividend. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Thursday, April 23rd. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.81%. Procter & Gamble’s dividend payout ratio is currently 69.91%.
A number of equities analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of Procter & Gamble from $125.00 to $134.00 and gave the company an “overweight” rating in a research report on Tuesday, April 21st. Bank of America reiterated a “buy” rating and issued a $135.00 target price on shares of Procter & Gamble in a report on Saturday, April 18th. Deutsche Bank boosted their target price on shares of Procter & Gamble from $130.00 to $131.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. TheStreet upgraded Procter & Gamble from a “c+” rating to a “b” rating in a research note on Tuesday, April 14th. Finally, Berenberg Bank reissued a “hold” rating and set a $130.00 price objective on shares of Procter & Gamble in a research report on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $130.31.
Procter & Gamble Company Profile
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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