Folger Nolan Fleming Douglas Capital Management Inc. reduced its stake in Procter & Gamble Co (NYSE:PG) by 8.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 139,637 shares of the company’s stock after selling 13,589 shares during the quarter. Procter & Gamble comprises 1.8% of Folger Nolan Fleming Douglas Capital Management Inc.’s holdings, making the stock its 6th largest holding. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Procter & Gamble were worth $12,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently bought and sold shares of PG. Asset Planning Services Ltd. lifted its stake in Procter & Gamble by 0.4% in the second quarter. Asset Planning Services Ltd. now owns 1,191 shares of the company’s stock valued at $104,000 after buying an additional 5 shares during the period. Harding Loevner LP acquired a new position in Procter & Gamble in the second quarter valued at approximately $119,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Procter & Gamble during the third quarter valued at approximately $125,000. Blume Capital Management Inc. increased its holdings in shares of Procter & Gamble by 25.4% during the second quarter. Blume Capital Management Inc. now owns 1,482 shares of the company’s stock valued at $129,000 after acquiring an additional 300 shares in the last quarter. Finally, Litman Gregory Asset Management LLC bought a new stake in shares of Procter & Gamble during the third quarter valued at approximately $173,000. 59.85% of the stock is currently owned by institutional investors.
PG has been the subject of several recent research reports. Vetr upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $93.02 price objective for the company in a report on Monday, October 23rd. Royal Bank of Canada restated a “buy” rating on shares of Procter & Gamble in a report on Monday, October 23rd. Morgan Stanley decreased their price objective on Procter & Gamble from $91.00 to $90.00 and set an “equal weight” rating for the company in a report on Tuesday, October 24th. Jefferies Group restated a “buy” rating and set a $88.23 price objective (down previously from $99.00) on shares of Procter & Gamble in a report on Thursday, November 16th. Finally, Deutsche Bank initiated coverage on Procter & Gamble in a report on Wednesday, December 13th. They set a “buy” rating and a $101.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $88.38.
Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Tuesday, January 23rd. The company reported $1.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.05. Procter & Gamble had a return on equity of 20.66% and a net margin of 15.34%. The business had revenue of $17.40 billion during the quarter, compared to the consensus estimate of $17.39 billion. During the same quarter in the prior year, the company posted $1.08 earnings per share. Procter & Gamble’s revenue was up 3.2% compared to the same quarter last year. analysts forecast that Procter & Gamble Co will post 4.21 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Friday, January 19th were issued a dividend of $0.6896 per share. The ex-dividend date of this dividend was Thursday, January 18th. This represents a $2.76 annualized dividend and a yield of 3.34%. Procter & Gamble’s dividend payout ratio (DPR) is currently 74.59%.
In related news, insider Deborah P. Majoras sold 4,591 shares of the company’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $87.48, for a total transaction of $401,620.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Juan Fernando Posada sold 4,878 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $89.80, for a total value of $438,044.40. Following the sale, the insider now owns 25,429 shares of the company’s stock, valued at approximately $2,283,524.20. The disclosure for this sale can be found here. Insiders have sold 76,806 shares of company stock valued at $6,750,355 in the last quarter. 0.35% of the stock is currently owned by corporate insiders.
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Procter & Gamble Company Profile
The Procter & Gamble Company is focused on providing branded consumer packaged goods to the consumers across the world. The Company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care, and Baby, Feminine & Family Care. The Company sells its products in approximately 180 countries and territories primarily through mass merchandisers, grocery stores, membership club stores, drug stores, department stores, distributors, baby stores, specialty beauty stores, e-commerce, high-frequency stores and pharmacies.
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