Bogart Wealth LLC decreased its position in Procter & Gamble Co (NYSE:PG) by 60.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,411 shares of the company’s stock after selling 3,694 shares during the period. Bogart Wealth LLC’s holdings in Procter & Gamble were worth $222,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the business. Patriot Wealth Management Inc. bought a new position in shares of Procter & Gamble in the fourth quarter worth about $5,552,000. Highwater Wealth Management LLC raised its stake in shares of Procter & Gamble by 240.9% in the fourth quarter. Highwater Wealth Management LLC now owns 15,224 shares of the company’s stock worth $1,399,000 after buying an additional 10,758 shares during the period. First Citizens Bank & Trust Co. raised its stake in shares of Procter & Gamble by 61.4% in the fourth quarter. First Citizens Bank & Trust Co. now owns 84,661 shares of the company’s stock worth $7,779,000 after buying an additional 32,223 shares during the period. White Lighthouse Investment Management Inc. bought a new position in shares of Procter & Gamble in the fourth quarter worth about $502,000. Finally, Gillespie Robinson & Grimm Inc. raised its stake in shares of Procter & Gamble by 29.9% in the fourth quarter. Gillespie Robinson & Grimm Inc. now owns 17,892 shares of the company’s stock worth $1,644,000 after buying an additional 4,117 shares during the period. 61.05% of the stock is currently owned by institutional investors.
PG has been the topic of several recent research reports. Zacks Investment Research raised Procter & Gamble from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Tuesday, January 16th. Deutsche Bank initiated coverage on Procter & Gamble in a research note on Wednesday, December 13th. They issued a “buy” rating and a $101.00 price objective on the stock. Jefferies Group reiterated a “buy” rating and set a $88.23 target price (down previously from $99.00) on shares of Procter & Gamble in a research report on Thursday, November 16th. Morgan Stanley increased their target price on Procter & Gamble from $90.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 25th. Finally, Wells Fargo & Co reiterated a “hold” rating and set a $88.00 target price on shares of Procter & Gamble in a research report on Sunday, December 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Procter & Gamble has an average rating of “Buy” and an average target price of $87.37.
Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Tuesday, January 23rd. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.05. The business had revenue of $17.40 billion during the quarter, compared to analysts’ expectations of $17.39 billion. Procter & Gamble had a return on equity of 20.66% and a net margin of 15.34%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.08 EPS. equities research analysts expect that Procter & Gamble Co will post 4.21 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Friday, January 19th were issued a dividend of $0.6896 per share. This represents a $2.76 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend was Thursday, January 18th. Procter & Gamble’s dividend payout ratio is presently 70.23%.
In other Procter & Gamble news, insider Marylynn Fergusonmchugh sold 2,353 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $78.59, for a total transaction of $184,922.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Deborah P. Majoras sold 4,591 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $87.48, for a total value of $401,620.68. The disclosure for this sale can be found here. Insiders have sold a total of 114,011 shares of company stock valued at $9,710,976 in the last 90 days. 0.35% of the stock is currently owned by company insiders.
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About Procter & Gamble
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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