Webster Bank N. A. lowered its stake in shares of Procter & Gamble Co (NYSE:PG) by 0.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 77,048 shares of the company’s stock after selling 133 shares during the period. Procter & Gamble accounts for approximately 1.3% of Webster Bank N. A.’s portfolio, making the stock its 17th largest holding. Webster Bank N. A.’s holdings in Procter & Gamble were worth $9,212,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. New England Investment & Retirement Group Inc. purchased a new stake in shares of Procter & Gamble in the first quarter worth about $28,000. Magellan Asset Management Ltd purchased a new stake in Procter & Gamble in the 1st quarter worth approximately $29,000. grace capital purchased a new stake in Procter & Gamble in the 4th quarter worth approximately $44,000. Efficient Wealth Management LLC bought a new position in Procter & Gamble in the 1st quarter valued at $39,000. Finally, Cox Capital Mgt LLC purchased a new position in shares of Procter & Gamble during the 1st quarter valued at $46,000. 63.44% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on the company. Stifel Nicolaus lifted their price target on Procter & Gamble from $117.00 to $129.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Royal Bank of Canada reissued a “hold” rating and issued a $120.00 price target on shares of Procter & Gamble in a research note on Tuesday, April 14th. Bank of America reissued a “buy” rating and issued a $135.00 price target on shares of Procter & Gamble in a report on Saturday, April 18th. Jefferies Financial Group raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $130.00 to $128.00 in a report on Monday, March 30th. Finally, Morgan Stanley increased their target price on Procter & Gamble from $125.00 to $134.00 and gave the company an “overweight” rating in a research note on Tuesday, April 21st. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $130.31.
Procter & Gamble (NYSE:PG) last issued its earnings results on Friday, April 17th. The company reported $1.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.04. The firm had revenue of $17.21 billion during the quarter, compared to analyst estimates of $17.29 billion. Procter & Gamble had a net margin of 7.09% and a return on equity of 29.15%. Procter & Gamble’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.06 earnings per share. As a group, equities research analysts anticipate that Procter & Gamble Co will post 4.96 EPS for the current year.
In other news, Director Nelson Peltz sold 3,500,000 shares of the stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $119.21, for a total value of $417,235,000.00. Following the transaction, the director now directly owns 3,891 shares of the company’s stock, valued at $463,846.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Deborah P. Majoras sold 12,589 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $122.68, for a total transaction of $1,544,418.52. Following the transaction, the insider now directly owns 44,948 shares of the company’s stock, valued at $5,514,220.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,963,114 shares of company stock valued at $1,067,197,986. 1.75% of the stock is owned by corporate insiders.
Procter & Gamble 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.
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