Carnegie Investment Counsel Sells 4,088 Shares of The Procter & Gamble Company (NYSE:PG)

Carnegie Investment Counsel trimmed its position in shares of The Procter & Gamble Company (NYSE:PG) by 5.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 65,295 shares of the company’s stock after selling 4,088 shares during the quarter. Carnegie Investment Counsel’s holdings in Procter & Gamble were worth $10,768,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Alera Investment Advisors LLC increased its stake in shares of Procter & Gamble by 1.2% in the first quarter. Alera Investment Advisors LLC now owns 5,007 shares of the company’s stock valued at $812,000 after buying an additional 60 shares during the period. Fiduciary Alliance LLC lifted its stake in shares of Procter & Gamble by 2.8% in the 2nd quarter. Fiduciary Alliance LLC now owns 2,261 shares of the company’s stock valued at $371,000 after purchasing an additional 61 shares during the period. Demars Financial Group LLC lifted its stake in Procter & Gamble by 4.4% in the fourth quarter. Demars Financial Group LLC now owns 1,497 shares of the company’s stock valued at $219,000 after buying an additional 63 shares during the period. LCM Capital Management Inc increased its stake in shares of Procter & Gamble by 1.1% in the 1st quarter. LCM Capital Management Inc now owns 5,701 shares of the company’s stock valued at $925,000 after acquiring an additional 63 shares in the last quarter. Finally, Home Federal Bank of Tennessee boosted its stake in Procter & Gamble by 0.3% during the second quarter. Home Federal Bank of Tennessee now owns 23,318 shares of the company’s stock worth $3,846,000 after acquiring an additional 63 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

Insider Activity at Procter & Gamble

In other news, insider Balaji Purushothaman sold 8,842 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $164.90, for a total value of $1,458,045.80. Following the completion of the sale, the insider now owns 11,537 shares in the company, valued at approximately $1,902,451.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Jon R. Moeller sold 72,174 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $171.01, for a total value of $12,342,475.74. Following the completion of the transaction, the chief executive officer now owns 263,158 shares in the company, valued at approximately $45,002,649.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Balaji Purushothaman sold 8,842 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $164.90, for a total value of $1,458,045.80. Following the completion of the transaction, the insider now directly owns 11,537 shares in the company, valued at $1,902,451.30. The disclosure for this sale can be found here. Insiders sold a total of 84,389 shares of company stock worth $14,373,932 in the last quarter. 0.17% of the stock is owned by company insiders.

Procter & Gamble Stock Performance

Shares of PG stock traded up $1.74 during mid-day trading on Tuesday, reaching $170.16. 2,798,915 shares of the company’s stock traded hands, compared to its average volume of 6,631,897. The Procter & Gamble Company has a 12 month low of $141.45 and a 12 month high of $171.72. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.53 and a current ratio of 0.73. The firm has a market capitalization of $401.60 billion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 3.66 and a beta of 0.41. The firm has a 50 day moving average price of $167.01 and a two-hundred day moving average price of $163.36.

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

Procter & Gamble Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were paid a $1.0065 dividend. This represents a $4.03 annualized dividend and a yield of 2.37%. The ex-dividend date was Friday, July 19th. Procter & Gamble’s payout ratio is currently 65.69%.

Analysts Set New Price Targets

A number of research firms recently weighed in on PG. Evercore ISI upped their price target on Procter & Gamble from $177.00 to $183.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Jefferies Financial Group downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating and lowered their target price for the company from $182.00 to $175.00 in a report on Wednesday, July 24th. StockNews.com cut Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. TD Cowen began coverage on Procter & Gamble in a report on Tuesday, July 23rd. They set a “buy” rating and a $189.00 price objective for the company. Finally, Barclays reduced their target price on shares of Procter & Gamble from $174.00 to $163.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $173.95.

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.