The Procter & Gamble Company (NYSE:PG) Holdings Cut by Israel Discount Bank of New York

Israel Discount Bank of New York decreased its stake in The Procter & Gamble Company (NYSE:PGGet Rating) by 9.0% in the first quarter, Holdings Channel reports. The institutional investor owned 8,509 shares of the company’s stock after selling 837 shares during the quarter. Procter & Gamble makes up approximately 0.9% of Israel Discount Bank of New York’s holdings, making the stock its 24th largest position. Israel Discount Bank of New York’s holdings in Procter & Gamble were worth $1,301,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in PG. Western Pacific Wealth Management LP purchased a new stake in Procter & Gamble in the 4th quarter worth approximately $40,000. Delos Wealth Advisors LLC bought a new position in shares of Procter & Gamble during the 4th quarter valued at $50,000. Level Financial Advisors Inc. bought a new position in shares of Procter & Gamble during the 4th quarter valued at $51,000. LFA Lugano Financial Advisors SA bought a new position in shares of Procter & Gamble during the 4th quarter valued at $53,000. Finally, James Reed Financial Services Inc. bought a new position in shares of Procter & Gamble during the 4th quarter valued at $53,000. Institutional investors own 63.64% of the company’s stock.

In other news, CAO Matthew W. Janzaruk sold 334 shares of Procter & Gamble stock in a transaction dated Tuesday, April 26th. The shares were sold at an average price of $162.43, for a total transaction of $54,251.62. Following the sale, the chief accounting officer now directly owns 1,220 shares in the company, valued at approximately $198,164.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ma. Fatima Francisco sold 18,000 shares of Procter & Gamble stock in a transaction dated Thursday, April 21st. The shares were sold at an average price of $164.10, for a total transaction of $2,953,800.00. Following the sale, the chief executive officer now owns 7,020 shares in the company, valued at $1,151,982. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 108,415 shares of company stock worth $17,777,055. 0.51% of the stock is owned by company insiders.

A number of research firms have recently weighed in on PG. Jefferies Financial Group raised their price target on shares of Procter & Gamble from $179.00 to $185.00 in a report on Thursday, April 21st. Evercore ISI set a $170.00 price target on shares of Procter & Gamble in a report on Monday. Credit Suisse Group raised their price target on shares of Procter & Gamble from $140.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, April 21st. StockNews.com upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating in a research note on Wednesday, May 18th. Finally, The Goldman Sachs Group lowered their target price on shares of Procter & Gamble from $179.00 to $173.00 in a research note on Tuesday, March 29th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Procter & Gamble currently has an average rating of “Moderate Buy” and an average price target of $163.80.

NYSE PG opened at $136.37 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.68 and a quick ratio of 0.47. The firm has a market capitalization of $327.19 billion, a price-to-earnings ratio of 23.80, a P/E/G ratio of 3.74 and a beta of 0.40. The company’s fifty day moving average is $150.09 and its two-hundred day moving average is $154.56. The Procter & Gamble Company has a 52-week low of $129.50 and a 52-week high of $165.35.

Procter & Gamble (NYSE:PGGet Rating) last posted its quarterly earnings results on Wednesday, April 20th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.05. The company had revenue of $19.38 billion for the quarter, compared to analyst estimates of $18.69 billion. Procter & Gamble had a net margin of 18.33% and a return on equity of 32.39%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the business posted $1.26 EPS. As a group, sell-side analysts expect that The Procter & Gamble Company will post 5.85 earnings per share for the current fiscal year.

The firm 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 of this dividend was Thursday, April 21st. Procter & Gamble’s payout ratio is 63.70%.

Procter & Gamble Company Profile (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.

Further Reading

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

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