Belpointe Asset Management LLC increased its position in shares of Procter & Gamble Co (NYSE:PG) by 10.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,685 shares of the company’s stock after purchasing an additional 1,362 shares during the period. Belpointe Asset Management LLC’s holdings in Procter & Gamble were worth $1,146,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in PG. Twin Tree Management LP bought a new position in shares of Procter & Gamble in the first quarter valued at $144,000. Marshall & Sullivan Inc. WA bought a new position in shares of Procter & Gamble in the second quarter valued at $149,000. Clearwater Capital Advisors LLC bought a new position in shares of Procter & Gamble in the first quarter valued at $154,000. Corbyn Investment Management Inc. MD bought a new position in shares of Procter & Gamble in the first quarter valued at $157,000. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Procter & Gamble by 296.5% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,038 shares of the company’s stock valued at $162,000 after buying an additional 1,524 shares in the last quarter. 58.54% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:PG opened at $91.20 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.62 and a current ratio of 0.80. Procter & Gamble Co has a 12-month low of $70.73 and a 12-month high of $93.14. The firm has a market cap of $226.41 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 2.95 and a beta of 0.37.
Procter & Gamble (NYSE:PG) last announced its earnings results on Friday, October 19th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.03. Procter & Gamble had a net margin of 15.10% and a return on equity of 21.20%. The company had revenue of $16.69 billion for the quarter, compared to the consensus estimate of $16.45 billion. During the same period in the previous year, the business earned $1.09 EPS. The company’s revenue was up .2% on a year-over-year basis. On average, sell-side analysts forecast that Procter & Gamble Co will post 4.41 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Friday, October 19th will be issued a dividend of $0.7172 per share. This represents a $2.87 annualized dividend and a dividend yield of 3.15%. The ex-dividend date of this dividend is Thursday, October 18th. Procter & Gamble’s dividend payout ratio is currently 68.01%.
In other news, Vice Chairman Jon R. Moeller sold 2,873 shares of the business’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $81.35, for a total transaction of $233,718.55. Following the transaction, the insider now directly owns 113,638 shares in the company, valued at approximately $9,244,451.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider R. Alexandra Keith sold 1,463 shares of the business’s stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $89.89, for a total transaction of $131,509.07. Following the transaction, the insider now owns 45,018 shares in the company, valued at $4,046,668.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,477 shares of company stock worth $6,125,522. 1.84% of the stock is currently owned by corporate insiders.
Several research analysts have issued reports on PG shares. ValuEngine raised Procter & Gamble from a “sell” rating to a “hold” rating in a report on Friday, August 17th. Wells Fargo & Co reaffirmed a “hold” rating and issued a $78.00 price target on shares of Procter & Gamble in a report on Thursday, August 16th. Atlantic Securities started coverage on Procter & Gamble in a report on Thursday, September 20th. They issued an “overweight” rating and a $94.00 price target on the stock. Bank of America upped their price target on Procter & Gamble from $82.00 to $89.00 and gave the company a “neutral” rating in a report on Thursday, October 4th. Finally, UBS Group set a $82.00 price target on Procter & Gamble and gave the company a “hold” rating in a report on Wednesday, October 17th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $87.66.
About Procter & Gamble
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.
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