Summit Financial Group Inc. lowered its holdings in shares of The Procter & Gamble Company (NYSE:PG – Get Rating) by 0.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,692 shares of the company’s stock after selling 175 shares during the period. Procter & Gamble comprises 2.5% of Summit Financial Group Inc.’s portfolio, making the stock its 6th largest holding. Summit Financial Group Inc.’s holdings in Procter & Gamble were worth $7,440,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of PG. OLD Mission Capital LLC acquired a new stake in Procter & Gamble during the third quarter worth $349,000. Morgan Stanley boosted its stake in Procter & Gamble by 5.0% during the second 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 in the last quarter. Keudell Morrison Wealth Management boosted its stake in Procter & Gamble by 2.4% during the third quarter. Keudell Morrison Wealth Management now owns 9,450 shares of the company’s stock worth $1,321,000 after buying an additional 219 shares in the last quarter. Center for Financial Planning Inc. boosted its stake in Procter & Gamble by 4.2% during the third quarter. Center for Financial Planning Inc. now owns 20,270 shares of the company’s stock worth $2,834,000 after buying an additional 816 shares in the last quarter. Finally, EagleClaw Capital Managment LLC lifted its holdings in shares of Procter & Gamble by 17.0% during the third quarter. EagleClaw Capital Managment LLC now owns 6,775 shares of the company’s stock valued at $946,000 after acquiring an additional 985 shares during the period. Hedge funds and other institutional investors own 63.64% of the company’s stock.
Shares of PG stock opened at $136.37 on Wednesday. The stock has a 50-day moving average price of $150.09 and a 200 day moving average price of $154.56. The company has a quick ratio of 0.47, a current ratio of 0.68 and a debt-to-equity ratio of 0.53. The firm has a market cap of $327.19 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 3.74 and a beta of 0.40. The Procter & Gamble Company has a 12 month low of $129.50 and a 12 month high of $165.35.
The business also recently announced a quarterly dividend, which was paid on Monday, May 16th. Stockholders of record on Friday, April 22nd were given a dividend of $0.9133 per share. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.87. This represents a $3.65 annualized dividend and a dividend yield of 2.68%. The ex-dividend date was Thursday, April 21st. Procter & Gamble’s payout ratio is presently 63.70%.
In other news, Chairman David S. Taylor sold 60,000 shares of the business’s stock in a transaction dated Thursday, April 21st. The stock was sold at an average price of $164.52, for a total transaction of $9,871,200.00. Following the completion of the transaction, the chairman now directly owns 253,933 shares in the company, valued at approximately $41,777,057.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman David S. Taylor sold 30,000 shares of the business’s stock in a transaction dated Monday, April 25th. The stock was sold at an average price of $162.83, for a total value of $4,884,900.00. Following the transaction, the chairman now owns 253,933 shares of the company’s stock, valued at $41,347,910.39. The disclosure for this sale can be found here. Insiders have sold a total of 108,415 shares of company stock valued at $17,777,055 over the last 90 days. Corporate insiders own 0.51% of the company’s stock.
PG has been the subject of a number of analyst reports. StockNews.com raised Procter & Gamble from a “hold” rating to a “buy” rating in a report on Wednesday, May 18th. The Goldman Sachs Group cut their price objective on Procter & Gamble from $179.00 to $173.00 in a report on Tuesday, March 29th. Wells Fargo & Company cut their price objective on Procter & Gamble from $180.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, June 1st. Barclays cut their price target on Procter & Gamble from $176.00 to $157.00 and set an “overweight” rating for the company in a report on Monday, May 23rd. Finally, Jefferies Financial Group lifted their price target on Procter & Gamble from $179.00 to $185.00 in a report on Thursday, April 21st. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Procter & Gamble has an average rating of “Moderate Buy” and a consensus target price of $163.80.
About Procter & Gamble (Get Rating)
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North and Latin America, Europe, the Asia Pacific, Greater China, India, the Middle East, and Africa. It operates in five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care.
- Get a free copy of the StockNews.com research report on Procter & Gamble (PG)
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