Summit Financial LLC Grows Stake in The Procter & Gamble Company (NYSE:PG)

Summit Financial LLC grew its stake in The Procter & Gamble Company (NYSE:PG) by 6.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 38,859 shares of the company’s stock after purchasing an additional 2,482 shares during the period. Summit Financial LLC’s holdings in Procter & Gamble were worth $6,515,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in Procter & Gamble in the 4th quarter worth about $5,244,463,000. Raymond James Financial Inc. bought a new position in shares of Procter & Gamble during the fourth quarter valued at approximately $1,010,685,000. Geode Capital Management LLC raised its holdings in shares of Procter & Gamble by 7.0% in the third quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock worth $9,538,327,000 after buying an additional 3,619,466 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Procter & Gamble by 1,195.1% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company’s stock worth $580,596,000 after acquiring an additional 2,973,757 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Procter & Gamble by 10.2% during the 3rd quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock valued at $3,290,573,000 after acquiring an additional 1,760,214 shares during the period. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, CEO Gary A. Coombe sold 35,000 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the sale, the chief executive officer now owns 22,051 shares in the company, valued at approximately $3,829,817.68. The trade was a 61.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marc S. Pritchard sold 90,450 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total value of $14,819,328.00. Following the completion of the transaction, the insider now owns 172,814 shares of the company’s stock, valued at approximately $28,313,845.76. The trade was a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 143,450 shares of company stock worth $23,988,008. 0.18% of the stock is owned by insiders.

Procter & Gamble Stock Performance

Shares of Procter & Gamble stock opened at $167.94 on Monday. The Procter & Gamble Company has a one year low of $153.52 and a one year high of $180.43. The company has a market capitalization of $393.80 billion, a PE ratio of 26.74, a P/E/G ratio of 3.76 and a beta of 0.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76. The company has a 50-day simple moving average of $168.60 and a two-hundred day simple moving average of $169.31.

Procter & Gamble (NYSE:PG) last posted its earnings results on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.02. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The company had revenue of $21.88 billion during the quarter, compared to analysts’ expectations of $21.66 billion. During the same quarter in the prior year, the company posted $1.84 earnings per share. Procter & Gamble’s revenue for the quarter was up 2.1% compared to the same quarter last year. Research analysts expect that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 24th were given a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Friday, January 24th. Procter & Gamble’s dividend payout ratio is currently 64.01%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Barclays reiterated an “equal weight” rating on shares of Procter & Gamble in a research note on Thursday. UBS Group reiterated a “buy” rating on shares of Procter & Gamble in a report on Monday, February 10th. JPMorgan Chase & Co. lowered their price objective on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Wells Fargo & Company raised their target price on shares of Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Finally, DA Davidson reiterated a “buy” rating and issued a $209.00 price target on shares of Procter & Gamble in a report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $181.82.

Procter & Gamble Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.