Smithbridge Asset Management Inc. DE Sells 266 Shares of The Procter & Gamble Company (NYSE:PG)

Smithbridge Asset Management Inc. DE lessened its position in shares of The Procter & Gamble Company (NYSE:PGFree Report) by 0.7% during the first quarter, Holdings Channel reports. The institutional investor owned 35,287 shares of the company’s stock after selling 266 shares during the quarter. Procter & Gamble accounts for 1.2% of Smithbridge Asset Management Inc. DE’s holdings, making the stock its 29th largest holding. Smithbridge Asset Management Inc. DE’s holdings in Procter & Gamble were worth $5,725,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP raised its holdings in shares of Procter & Gamble by 9.4% in the 3rd quarter. Wellington Management Group LLP now owns 35,608,913 shares of the company’s stock valued at $5,193,916,000 after acquiring an additional 3,047,557 shares in the last quarter. Norges Bank purchased a new stake in shares of Procter & Gamble in the 4th quarter valued at about $3,956,117,000. Charles Schwab Investment Management Inc. increased its position in shares of Procter & Gamble by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 16,209,425 shares of the company’s stock valued at $2,336,552,000 after purchasing an additional 206,165 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Procter & Gamble by 5.6% during the 4th quarter. Fisher Asset Management LLC now owns 10,556,988 shares of the company’s stock valued at $1,547,021,000 after purchasing an additional 559,358 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Procter & Gamble by 2.6% during the 4th quarter. Franklin Resources Inc. now owns 9,571,693 shares of the company’s stock valued at $1,402,636,000 after purchasing an additional 246,323 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. StockNews.com upgraded Procter & Gamble from a “hold” rating to a “buy” rating in a research report on Tuesday, June 25th. Argus increased their price objective on Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Barclays increased their price objective on Procter & Gamble from $168.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft reduced their price target on Procter & Gamble from $172.00 to $171.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Finally, BNP Paribas started coverage on Procter & Gamble in a research report on Monday, June 24th. They set an “outperform” rating and a $187.00 price target on the stock. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $170.72.

View Our Latest Stock Analysis on PG

Insider Buying and Selling

In other Procter & Gamble news, CEO Sundar G. Raman sold 31,924 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $166.95, for a total value of $5,329,711.80. Following the transaction, the chief executive officer now directly owns 19,042 shares of the company’s stock, valued at $3,179,061.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Sundar G. Raman sold 31,924 shares of Procter & Gamble stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $166.95, for a total transaction of $5,329,711.80. Following the transaction, the chief executive officer now directly owns 19,042 shares of the company’s stock, valued at approximately $3,179,061.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO R. Alexandra Keith sold 855 shares of Procter & Gamble stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $158.50, for a total value of $135,517.50. Following the transaction, the chief executive officer now directly owns 4,004 shares in the company, valued at $634,634. The disclosure for this sale can be found here. In the last ninety days, insiders sold 154,544 shares of company stock worth $25,413,051. 0.17% of the stock is owned by corporate insiders.

Procter & Gamble Stock Up 0.6 %

Shares of NYSE PG traded up $1.07 during mid-day trading on Wednesday, hitting $166.73. 5,036,807 shares of the stock traded hands, compared to its average volume of 6,528,171. The company has a market cap of $393.51 billion, a price-to-earnings ratio of 27.13, a PEG ratio of 3.18 and a beta of 0.41. The stock has a fifty day moving average price of $165.97 and a 200-day moving average price of $159.85. The Procter & Gamble Company has a 52 week low of $141.45 and a 52 week high of $169.41. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.48 and a current ratio of 0.69.

Procter & Gamble (NYSE:PGGet Free Report) last posted its quarterly earnings data on Friday, April 19th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.10. Procter & Gamble had a return on equity of 33.91% and a net margin of 18.00%. The business had revenue of $20.20 billion during the quarter, compared to the consensus estimate of $20.43 billion. During the same quarter in the prior year, the company earned $1.37 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. Research analysts anticipate that The Procter & Gamble Company will post 6.55 EPS for the current year.

Procter & Gamble Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Friday, July 19th will be issued a $1.0065 dividend. The ex-dividend date of this dividend is Friday, July 19th. This represents a $4.03 annualized dividend and a yield of 2.41%. Procter & Gamble’s payout ratio is 65.85%.

Procter & Gamble Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding PG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Procter & Gamble Company (NYSE:PGFree Report).

Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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