United Income Inc. Takes Position in Procter & Gamble Co (PG)

United Income Inc. acquired a new stake in Procter & Gamble Co (NYSE:PG) in the fourth quarter, Holdings Channel reports. The firm acquired 2,789 shares of the company’s stock, valued at approximately $256,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Procter & Gamble by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 188,401,646 shares of the company’s stock valued at $15,680,670,000 after purchasing an additional 853,269 shares in the last quarter. Vanguard Group Inc grew its position in shares of Procter & Gamble by 0.5% during the 3rd quarter. Vanguard Group Inc now owns 188,401,646 shares of the company’s stock valued at $15,680,670,000 after purchasing an additional 853,269 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Procter & Gamble by 5,578,292.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 24,377,577 shares of the company’s stock valued at $2,028,947,000 after purchasing an additional 24,377,140 shares in the last quarter. FMR LLC grew its position in shares of Procter & Gamble by 6.7% during the 3rd quarter. FMR LLC now owns 19,135,225 shares of the company’s stock valued at $1,592,625,000 after purchasing an additional 1,196,630 shares in the last quarter. Finally, Morgan Stanley grew its position in shares of Procter & Gamble by 11.3% during the 3rd quarter. Morgan Stanley now owns 17,584,133 shares of the company’s stock valued at $1,463,528,000 after purchasing an additional 1,784,225 shares in the last quarter. Institutional investors and hedge funds own 61.11% of the company’s stock.

A number of research firms have recently commented on PG. Credit Suisse Group set a $100.00 price target on shares of Procter & Gamble and gave the company a “hold” rating in a research report on Friday, May 10th. Zacks Investment Research lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Tuesday, March 26th. Deutsche Bank boosted their price target on shares of Procter & Gamble from $100.00 to $106.00 and gave the company a “hold” rating in a research report on Wednesday, April 24th. Goldman Sachs Group reiterated a “neutral” rating and issued a $111.00 target price on shares of Procter & Gamble in a research report on Tuesday, April 23rd. Finally, UBS Group upped their target price on shares of Procter & Gamble to $102.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $101.42.

Shares of NYSE:PG opened at $106.69 on Friday. Procter & Gamble Co has a 52-week low of $72.80 and a 52-week high of $108.68. The firm has a market capitalization of $268.97 billion, a P/E ratio of 25.28, a P/E/G ratio of 3.43 and a beta of 0.39. The company has a quick ratio of 0.60, a current ratio of 0.79 and a debt-to-equity ratio of 0.39.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.02. The business had revenue of $16.46 billion during the quarter, compared to the consensus estimate of $16.37 billion. Procter & Gamble had a net margin of 16.44% and a return on equity of 21.61%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.00 earnings per share. Sell-side analysts predict that Procter & Gamble Co will post 4.48 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th were paid a $0.7459 dividend. The ex-dividend date was Wednesday, April 17th. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.72. This represents a $2.98 annualized dividend and a yield of 2.80%. Procter & Gamble’s payout ratio is currently 70.62%.

In other Procter & Gamble news, VP Valarie L. Sheppard sold 26,891 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $106.32, for a total value of $2,859,051.12. Following the completion of the sale, the vice president now directly owns 51,323 shares of the company’s stock, valued at $5,456,661.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David S. Taylor sold 30,000 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $105.00, for a total transaction of $3,150,000.00. Following the completion of the sale, the chief executive officer now directly owns 256,088 shares of the company’s stock, valued at $26,889,240. The disclosure for this sale can be found here. Insiders sold 307,091 shares of company stock valued at $32,383,647 over the last three months. 1.84% of the stock is currently owned by insiders.

COPYRIGHT VIOLATION WARNING: “United Income Inc. Takes Position in Procter & Gamble Co (PG)” was originally posted by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this report on another site, it was illegally stolen and republished in violation of United States & international copyright and trademark legislation. The original version of this report can be viewed at https://sportsperspectives.com/2019/05/26/united-income-inc-takes-position-in-procter-gamble-co-pg.html.

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.

Featured Article: Why do company’s buyback their stock?

Want to see what other hedge funds are holding PG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Procter & Gamble Co (NYSE:PG).

Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

Receive News & Ratings for Procter & Gamble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Procter & Gamble and related companies with MarketBeat.com's FREE daily email newsletter.