Rockland Trust Co. Lowers Holdings in Procter & Gamble Co (NYSE:PG)

Rockland Trust Co. cut its holdings in Procter & Gamble Co (NYSE:PG) by 3.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,186 shares of the company’s stock after selling 3,396 shares during the period. Rockland Trust Co.’s holdings in Procter & Gamble were worth $12,927,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. HBW Advisory Services LLC purchased a new position in Procter & Gamble in the 3rd quarter worth approximately $2,445,000. E&G Advisors LP lifted its holdings in Procter & Gamble by 11.5% in the 3rd quarter. E&G Advisors LP now owns 4,833 shares of the company’s stock worth $601,000 after purchasing an additional 500 shares in the last quarter. Truvestments Capital LLC lifted its holdings in Procter & Gamble by 5.4% in the 3rd quarter. Truvestments Capital LLC now owns 25,305 shares of the company’s stock worth $3,148,000 after purchasing an additional 1,290 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Procter & Gamble by 11.1% in the 3rd quarter. Pacer Advisors Inc. now owns 272,138 shares of the company’s stock worth $33,849,000 after purchasing an additional 27,281 shares in the last quarter. Finally, Brio Consultants LLC raised its holdings in shares of Procter & Gamble by 65.0% during the 3rd quarter. Brio Consultants LLC now owns 3,126 shares of the company’s stock worth $389,000 after acquiring an additional 1,231 shares in the last quarter. 65.62% of the stock is currently owned by institutional investors.

Several analysts have recently issued reports on the company. Wells Fargo & Co reaffirmed a “buy” rating and set a $135.00 price objective (up from $125.00) on shares of Procter & Gamble in a report on Tuesday, July 30th. Goldman Sachs Group raised Procter & Gamble from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $114.00 to $125.00 in a report on Thursday, June 27th. ValuEngine cut Procter & Gamble from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Deutsche Bank upped their price objective on Procter & Gamble from $106.00 to $109.00 and gave the stock a “hold” rating in a report on Monday, June 17th. Finally, SunTrust Banks upped their price objective on Procter & Gamble to $120.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $108.95.

NYSE:PG traded down $0.51 during midday trading on Friday, hitting $121.43. 140,984 shares of the company traded hands, compared to its average volume of 6,660,306. The firm’s fifty day moving average is $121.79 and its 200-day moving average is $112.57. Procter & Gamble Co has a 12-month low of $78.49 and a 12-month high of $125.36. The firm has a market capitalization of $302.64 billion, a P/E ratio of 26.85, a P/E/G ratio of 3.51 and a beta of 0.42. The company has a current ratio of 0.75, a quick ratio of 0.58 and a debt-to-equity ratio of 0.44.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.04. Procter & Gamble had a return on equity of 23.03% and a net margin of 5.76%. The company had revenue of $17.09 billion for the quarter, compared to analyst estimates of $16.86 billion. During the same quarter in the prior year, the firm posted $0.94 EPS. Procter & Gamble’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, research analysts expect that Procter & Gamble Co will post 4.85 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a dividend of $0.7459 per share. The ex-dividend date is Thursday, October 17th. This represents a $2.98 annualized dividend and a yield of 2.46%. Procter & Gamble’s payout ratio is presently 65.93%.

In other Procter & Gamble news, CEO Marylynn Fergusonmchugh sold 37,027 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $116.00, for a total value of $4,295,132.00. Following the transaction, the chief executive officer now owns 112,703 shares of the company’s stock, valued at approximately $13,073,548. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Valarie L. Sheppard sold 17,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $120.20, for a total value of $2,043,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 448,674 shares of company stock worth $53,197,461 in the last 90 days. 1.75% of the stock is currently owned by insiders.

Procter & Gamble Company Profile

The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.

See Also: Stocks Increasing Dividends

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

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