Procter & Gamble Company (The) $PG Stock Sold by Harbour Investments Inc.

Harbour Investments Inc. trimmed its stake in shares of Procter & Gamble Company (The) (NYSE:PG) by 9.1% during the third quarter, HoldingsChannel reports. The fund owned 351,263 shares of the company’s stock after selling 35,200 shares during the quarter. Procter & Gamble comprises approximately 0.8% of Harbour Investments Inc.’s holdings, making the stock its 23rd largest position. Harbour Investments Inc.’s holdings in Procter & Gamble were worth $51,032,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Procter & Gamble in the 2nd quarter worth about $27,862,105,000. State Street Corp raised its stake in shares of Procter & Gamble by 1.0% in the 2nd quarter. State Street Corp now owns 102,216,308 shares of the company’s stock valued at $14,988,999,000 after purchasing an additional 965,461 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Procter & Gamble in the 2nd quarter valued at about $3,850,628,000. Bank of New York Mellon Corp bought a new position in shares of Procter & Gamble during the second quarter worth about $2,281,505,000. Finally, Fisher Asset Management LLC lifted its position in shares of Procter & Gamble by 7.5% during the third quarter. Fisher Asset Management LLC now owns 12,084,656 shares of the company’s stock worth $1,755,659,000 after purchasing an additional 845,717 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on PG. Evercore upgraded Procter & Gamble from an “in-line” rating to an “outperform” rating and set a $166.00 price target for the company in a research note on Tuesday, October 6th. DZ Bank cut Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 27th. Argus cut Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Friday, August 7th. JPMorgan Chase & Co. increased their target price on Procter & Gamble from $162.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, October 23rd. Finally, BNP Paribas Exane lifted their target price on Procter & Gamble from $177.00 to $189.00 and gave the stock an “outperform” rating in a research report on Friday, October 23rd. Fifteen analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $170.57.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, insider Victor Aguilar sold 18,812 shares of the firm’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $164.43, for a total value of $3,093,257.16. Following the transaction, the insider owned 55,243 shares of the company’s stock, valued at $9,083,606.49. This trade represents a 25.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Andre Schulten sold 30,677 shares of Procter & Gamble stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $169.00, for a total value of $5,184,413.00. Following the completion of the transaction, the chief financial officer owned 65,618 shares of the company’s stock, valued at approximately $11,089,442. The trade was a 31.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 200,006 shares of company stock worth $32,715,058. 0.23% of the stock is owned by company insiders.

Procter & Gamble Stock Performance

PG stock traded up $1.81 during trading on Friday, hitting $169.84. 6,941,459 shares of the company’s stock traded hands, compared to its average volume of 10,402,722. The company has a quick ratio of 0.53, a current ratio of 0.72 and a debt-to-equity ratio of 0.40. Procter & Gamble Company has a 52 week low of $137.62 and a 52 week high of $170.73. The stock has a fifty day moving average price of $154.26 and a two-hundred day moving average price of $149.93. The stock has a market capitalization of $393.65 billion, a price-to-earnings ratio of 25.58, a price-to-earnings-growth ratio of 4.13 and a beta of 0.36.

Procter & Gamble (NYSE:PG) last issued its earnings results on Thursday, October 22nd. The company reported $2.00 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.11. Procter & Gamble had a net margin of 18.23% and a return on equity of 31.02%. The company had revenue of $23.28 billion for the quarter, compared to analysts’ expectations of $22.80 billion. During the same period in the prior year, the company earned $1.99 earnings per share. The firm’s revenue was up 4.0% compared to the same quarter last year. As a group, equities analysts anticipate that Procter & Gamble Company will post 6.99 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Friday, October 23rd will be given a dividend of $1.0885 per share. This represents a $4.35 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, October 23rd. Procter & Gamble’s dividend payout ratio is currently 65.51%.

Trending Headlines about Procter & Gamble

Here are a few of the latest headlines about PG:

• Positive Sentiment: P&G’s latest quarter beat expectations: earnings were $2.00 per share versus $1.89 expected, and revenue was $23.28 billion versus $22.80 billion expected, up 4% year over year. The results have helped lift shares toward a 52-week high. Article: Procter & Gamble Has Raised Its Dividend for 70 Straight Years
• Negative Sentiment: Higher oil prices and shrinking margins are cited as risks to the rally, potentially offsetting volume-led growth. Investors will look for management’s strategy and outlook at its upcoming Investor Day. Article: P&G Dividend and Price Target
• Negative Sentiment: CEO El Hak Hesham Abd sold 2,250 shares for about $379,000, reducing his direct ownership by 20.06% to 8,968 shares. The sale may draw attention, although a single transaction does not establish a change in the company’s outlook. SEC Form 4 filing

Procter & Gamble Profile

The Procter & Gamble Company is a consumer goods company that develops, manufactures and markets products for everyday use. Founded in 1837 by William Procter and James Gamble, the company is headquartered in Cincinnati, Ohio. Its products span beauty, grooming, health care, fabric and home care, and baby, feminine and family care. Well-known brands include Tide, Pampers, Gillette, Pantene, Olay, Oral-B, Crest, Dawn, Charmin and Bounty. Procter & Gamble sells its products in markets around the world through retail stores, e-commerce platforms and other distribution channels.