The Procter & Gamble Company (NYSE:PG) Shares Sold by Summit Asset Management LLC

Summit Asset Management LLC cut its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 0.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,929 shares of the company’s stock after selling 83 shares during the period. Procter & Gamble comprises approximately 0.8% of Summit Asset Management LLC’s investment portfolio, making the stock its 22nd biggest holding. Summit Asset Management LLC’s holdings in Procter & Gamble were worth $3,360,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wyrmwood Management LLC acquired a new position in shares of Procter & Gamble in the fourth quarter worth about $29,000. Naples Money Management LLC acquired a new position in shares of Procter & Gamble in the fourth quarter worth about $29,000. Criterion Capital Advisors LLC acquired a new position in shares of Procter & Gamble in the fourth quarter worth about $33,000. Mendota Financial Group LLC raised its position in shares of Procter & Gamble by 636.6% in the fourth quarter. Mendota Financial Group LLC now owns 302 shares of the company’s stock worth $44,000 after acquiring an additional 261 shares during the period. Finally, DiNuzzo Private Wealth Inc. acquired a new position in shares of Procter & Gamble in the fourth quarter worth about $56,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, COO Shailesh Jejurikar sold 31,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $162.90, for a total transaction of $5,049,900.00. Following the transaction, the chief operating officer now directly owns 9,739 shares of the company’s stock, valued at approximately $1,586,483.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Procter & Gamble news, COO Shailesh Jejurikar sold 31,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $162.90, for a total transaction of $5,049,900.00. Following the transaction, the chief operating officer now directly owns 9,739 shares of the company’s stock, valued at approximately $1,586,483.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Balaji Purushothaman sold 28,369 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $161.49, for a total transaction of $4,581,309.81. Following the transaction, the insider now directly owns 11,507 shares in the company, valued at $1,858,265.43. The disclosure for this sale can be found here. Insiders have sold 86,865 shares of company stock valued at $14,059,180 in the last ninety days. Insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

PG has been the subject of a number of research reports. Royal Bank of Canada boosted their target price on shares of Procter & Gamble from $156.00 to $157.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 24th. Stifel Nicolaus boosted their target price on shares of Procter & Gamble from $155.00 to $157.00 and gave the stock a “hold” rating in a research note on Wednesday, January 24th. The Goldman Sachs Group started coverage on shares of Procter & Gamble in a research note on Friday, March 1st. They set a “neutral” rating and a $168.00 target price for the company. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Procter & Gamble from $172.00 to $171.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Finally, StockNews.com cut shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $169.76.

Procter & Gamble Stock Up 0.4 %

Shares of NYSE:PG traded up $0.59 during trading hours on Thursday, reaching $163.99. The stock had a trading volume of 2,138,617 shares, compared to its average volume of 6,891,378. The Procter & Gamble Company has a 1 year low of $141.45 and a 1 year high of $164.32. The firm’s 50 day moving average is $159.88 and its 200-day moving average is $153.97. 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 stock has a market capitalization of $387.04 billion, a price-to-earnings ratio of 26.75, a P/E/G ratio of 3.31 and a beta of 0.43.

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

Procter & Gamble Increases Dividend

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