The Procter & Gamble Company (NYSE:PG) Shares Purchased by Summit Financial LLC

Summit Financial LLC increased its holdings in The Procter & Gamble Company (NYSE:PG) by 59.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,080 shares of the company’s stock after buying an additional 12,741 shares during the quarter. Summit Financial LLC’s holdings in Procter & Gamble were worth $5,621,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Advantage Trust Co acquired a new stake in Procter & Gamble during the fourth quarter worth about $28,000. Transcendent Capital Group LLC acquired a new stake in shares of Procter & Gamble during the 4th quarter worth approximately $31,000. Ruedi Wealth Management Inc. increased its holdings in shares of Procter & Gamble by 64.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock valued at $32,000 after purchasing an additional 77 shares in the last quarter. MeadowBrook Investment Advisors LLC purchased a new stake in Procter & Gamble during the fourth quarter worth $33,000. Finally, POM Investment Strategies LLC acquired a new stake in Procter & Gamble during the second quarter valued at $34,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. BNP Paribas began coverage on shares of Procter & Gamble in a research note on Monday, June 24th. They set an “outperform” rating and a $187.00 target price on the stock. Barclays reduced their price objective on shares of Procter & Gamble from $174.00 to $163.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Procter & Gamble from $171.00 to $176.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. StockNews.com downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Jefferies Financial Group cut Procter & Gamble from a “buy” rating to a “hold” rating and reduced their target price for the company from $182.00 to $175.00 in a report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.79.

Insider Activity at Procter & Gamble

In related news, CEO R. Alexandra Keith sold 3,373 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $170.00, for a total transaction of $573,410.00. Following the sale, the chief executive officer now directly owns 21,513 shares in the company, valued at $3,657,210. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Ma. Fatima Francisco sold 96,000 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $170.00, for a total transaction of $16,320,000.00. Following the completion of the sale, the chief executive officer now owns 13,721 shares in the company, valued at $2,332,570. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO R. Alexandra Keith sold 3,373 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $170.00, for a total transaction of $573,410.00. Following the completion of the transaction, the chief executive officer now owns 21,513 shares in the company, valued at $3,657,210. The disclosure for this sale can be found here. Over the last quarter, insiders sold 375,553 shares of company stock worth $63,829,141. Corporate insiders own 0.17% of the company’s stock.

Procter & Gamble Trading Up 0.9 %

NYSE:PG traded up $1.51 on Friday, reaching $171.54. The company’s stock had a trading volume of 7,301,617 shares, compared to its average volume of 6,188,285. The Procter & Gamble Company has a 12-month low of $141.45 and a 12-month high of $171.89. The stock has a 50 day moving average price of $167.48 and a 200 day moving average price of $164.08. The firm has a market cap of $404.86 billion, a price-to-earnings ratio of 28.03, a price-to-earnings-growth ratio of 3.72 and a beta of 0.41. The company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 0.51.

Procter & Gamble (NYSE:PG) last announced its earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.03. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The company had revenue of $20.53 billion during the quarter, compared to analyst estimates of $20.69 billion. During the same quarter last year, the firm posted $1.37 earnings per share. Procter & Gamble’s revenue was down .1% compared to the same quarter last year. On average, equities analysts anticipate that The Procter & Gamble Company will post 6.97 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were given a $1.0065 dividend. This represents a $4.03 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Friday, July 19th. Procter & Gamble’s dividend payout ratio is currently 65.85%.

About Procter & Gamble

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.