Summit Financial LLC Has $3.26 Million Stock Position in The Procter & Gamble Company (NYSE:PG)

Summit Financial LLC lifted its position in shares of The Procter & Gamble Company (NYSE:PG) by 0.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 22,260 shares of the company’s stock after acquiring an additional 145 shares during the period. Summit Financial LLC’s holdings in Procter & Gamble were worth $3,262,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of PG. Wendell David Associates Inc. grew its position in Procter & Gamble by 0.5% in the third quarter. Wendell David Associates Inc. now owns 93,825 shares of the company’s stock valued at $13,685,000 after acquiring an additional 491 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. boosted its holdings in shares of Procter & Gamble by 9.3% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 23,924 shares of the company’s stock worth $3,490,000 after buying an additional 2,043 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its holdings in shares of Procter & Gamble by 10.8% in the 3rd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 20,677 shares of the company’s stock worth $3,016,000 after purchasing an additional 2,011 shares in the last quarter. Modus Advisors LLC lifted its holdings in shares of Procter & Gamble by 1.4% in the 3rd quarter. Modus Advisors LLC now owns 15,310 shares of the company’s stock worth $2,233,000 after purchasing an additional 214 shares in the last quarter. Finally, Signet Investment Advisory Group Inc. lifted its holdings in shares of Procter & Gamble by 1.2% in the 3rd quarter. Signet Investment Advisory Group Inc. now owns 20,571 shares of the company’s stock worth $3,000,000 after purchasing an additional 244 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Price Performance

NYSE PG traded up $0.18 during trading hours on Wednesday, hitting $163.38. The company had a trading volume of 7,542,978 shares, compared to its average volume of 6,949,876. The firm has a market capitalization of $385.60 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 3.28 and a beta of 0.44. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.48 and a current ratio of 0.69. The firm has a 50 day simple moving average of $159.82 and a 200 day simple moving average of $153.91. The Procter & Gamble Company has a 52 week low of $141.45 and a 52 week high of $164.32.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Friday, April 19th. The company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.10. The firm had revenue of $20.20 billion during the quarter, compared to the consensus estimate of $20.43 billion. Procter & Gamble had a return on equity of 33.91% and a net margin of 18.00%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the company posted $1.37 EPS. Equities research analysts expect that The Procter & Gamble Company will post 6.55 earnings per share for the current year.

Procter & Gamble Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be given a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Thursday, April 18th. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.94. Procter & Gamble’s dividend payout ratio (DPR) is 65.85%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PG shares. Raymond James increased their price target on Procter & Gamble from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Jefferies Financial Group raised their target price on Procter & Gamble from $175.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Stifel Nicolaus lifted their price objective on Procter & Gamble from $155.00 to $157.00 and gave the stock a “hold” rating in a report on Wednesday, January 24th. Argus lifted their price objective on Procter & Gamble from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, Barclays lifted their price objective on Procter & Gamble from $168.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, April 23rd. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Procter & Gamble presently has a consensus rating of “Moderate Buy” and a consensus price target of $169.76.

Insider Activity

In related news, insider Balaji Purushothaman sold 28,369 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $161.49, for a total value of $4,581,309.81. Following the completion of the sale, the insider now owns 11,507 shares in the company, valued at approximately $1,858,265.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Balaji Purushothaman sold 28,369 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $161.49, for a total value of $4,581,309.81. Following the completion of the sale, the insider now owns 11,507 shares in the company, valued at approximately $1,858,265.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Susan Street Whaley sold 3,865 shares of Procter & Gamble stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $160.60, for a total value of $620,719.00. Following the completion of the transaction, the insider now directly owns 11,886 shares in the company, valued at $1,908,891.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,865 shares of company stock worth $14,059,180. 0.17% of the stock is currently owned by insiders.

Procter & Gamble Profile

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.