Venturi Wealth Management LLC lifted its stake in The Procter & Gamble Company (NYSE:PG) by 1.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 14,461 shares of the company’s stock after buying an additional 202 shares during the quarter. Venturi Wealth Management LLC’s holdings in Procter & Gamble were worth $2,022,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of PG. Geode Capital Management LLC boosted its position in shares of Procter & Gamble by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 41,492,829 shares of the company’s stock worth $5,584,128,000 after purchasing an additional 857,975 shares during the last quarter. Morgan Stanley raised its stake in Procter & Gamble by 5.0% during the 2nd quarter. Morgan Stanley now owns 34,500,719 shares of the company’s stock worth $4,655,181,000 after buying an additional 1,632,893 shares during the period. FMR LLC raised its stake in shares of Procter & Gamble by 7.5% in the 2nd quarter. FMR LLC now owns 25,132,944 shares of the company’s stock valued at $3,391,188,000 after purchasing an additional 1,746,707 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Procter & Gamble by 1.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 15,261,722 shares of the company’s stock valued at $2,059,266,000 after purchasing an additional 235,132 shares during the period. Finally, Magellan Asset Management Ltd raised its stake in shares of Procter & Gamble by 566,378.0% in the 2nd quarter. Magellan Asset Management Ltd now owns 13,340,557 shares of the company’s stock valued at $1,800,041,000 after purchasing an additional 13,338,202 shares during the period. 62.86% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently commented on the company. Bank of America assumed coverage on Procter & Gamble in a report on Tuesday, October 5th. They set a “buy” rating for the company. Berenberg Bank reiterated a “hold” rating and set a $146.00 price target on shares of Procter & Gamble in a report on Wednesday, October 20th. Zacks Investment Research upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $147.00 price objective for the company in a report on Tuesday, October 5th. Deutsche Bank Aktiengesellschaft reduced their price objective on Procter & Gamble from $163.00 to $160.00 and set a “buy” rating for the company in a report on Wednesday, October 20th. Finally, Royal Bank of Canada restated a “hold” rating and set a $150.00 price objective on shares of Procter & Gamble in a report on Tuesday, December 21st. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $149.44.
Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Monday, October 18th. The company reported $1.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.02. The company had revenue of $20.34 billion for the quarter, compared to analysts’ expectations of $19.87 billion. Procter & Gamble had a net margin of 18.33% and a return on equity of 31.49%. The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.63 EPS. On average, analysts anticipate that The Procter & Gamble Company will post 5.91 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 15th. Shareholders of record on Friday, January 21st will be paid a $0.8698 dividend. The ex-dividend date of this dividend is Thursday, January 20th. This represents a $3.48 annualized dividend and a yield of 2.18%. Procter & Gamble’s dividend payout ratio (DPR) is 63.62%.
In other Procter & Gamble news, Chairman David S. Taylor sold 50,000 shares of the firm’s stock in a transaction on Wednesday, November 10th. The shares were sold at an average price of $146.00, for a total value of $7,300,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ma. Fatima Francisco sold 1,200 shares of the firm’s stock in a transaction on Tuesday, October 26th. The shares were sold at an average price of $143.00, for a total transaction of $171,600.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 151,249 shares of company stock valued at $22,257,187. Company insiders own 0.51% of the company’s stock.
Procter & Gamble Profile
Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment comprises of shave care like female and male blades and razors, pre and post shave products, and appliances.
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