The Procter & Gamble Company (NYSE:PG) is Summit Financial Group Inc.’s 6th Largest Position

Summit Financial Group Inc. lessened its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 1.2% during the 1st quarter, HoldingsChannel reports. The fund owned 42,590 shares of the company’s stock after selling 538 shares during the quarter. Procter & Gamble comprises approximately 2.5% of Summit Financial Group Inc.’s portfolio, making the stock its 6th biggest holding. Summit Financial Group Inc.’s holdings in Procter & Gamble were worth $6,910,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Advantage Trust Co bought a new stake in Procter & Gamble during the fourth quarter valued at about $28,000. Wyrmwood Management LLC purchased a new position in shares of Procter & Gamble during the fourth quarter valued at about $29,000. Naples Money Management LLC bought a new stake in shares of Procter & Gamble in the fourth quarter worth about $29,000. Transcendent Capital Group LLC purchased a new stake in shares of Procter & Gamble in the fourth quarter worth about $31,000. Finally, Criterion Capital Advisors LLC bought a new position in Procter & Gamble during the fourth quarter valued at approximately $33,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Procter & Gamble Trading Up 0.6 %

Procter & Gamble stock opened at $168.56 on Thursday. The stock has a 50-day moving average of $164.09 and a two-hundred day moving average of $157.83. The stock has a market cap of $397.83 billion, a PE ratio of 27.54, a price-to-earnings-growth ratio of 3.42 and a beta of 0.42. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.48 and a current ratio of 0.69. The Procter & Gamble Company has a one year low of $141.45 and a one year high of $168.97.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Friday, April 19th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.42 by $0.10. The business had revenue of $20.20 billion during the quarter, compared to analysts’ expectations of $20.43 billion. Procter & Gamble had a net margin of 18.00% and a return on equity of 33.91%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.37 EPS. On average, research analysts anticipate that The Procter & Gamble Company will post 6.55 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th were issued a dividend of $1.0065 per share. The ex-dividend date of this dividend was Thursday, April 18th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.39%. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.94. Procter & Gamble’s dividend payout ratio is presently 65.85%.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, CEO R. Alexandra Keith sold 855 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $158.50, for a total value of $135,517.50. Following the transaction, the chief executive officer now directly owns 4,004 shares in the company, valued at approximately $634,634. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO R. Alexandra Keith sold 855 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $158.50, for a total transaction of $135,517.50. Following the completion of the transaction, the chief executive officer now owns 4,004 shares of the company’s stock, valued at approximately $634,634. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Balaji Purushothaman sold 28,369 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $161.49, for a total value of $4,581,309.81. Following the transaction, the insider now owns 11,507 shares of the company’s stock, valued at $1,858,265.43. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 154,544 shares of company stock worth $25,413,051. Corporate insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

PG has been the topic of several recent research reports. The Goldman Sachs Group assumed coverage on Procter & Gamble in a report on Friday, March 1st. They set a “neutral” rating and a $168.00 price objective on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Procter & Gamble from $172.00 to $171.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Jefferies Financial Group lifted their price target on Procter & Gamble from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Argus boosted their target price on Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, Barclays increased their price target on Procter & Gamble from $168.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, April 23rd. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $169.76.

Procter & Gamble Company Profile

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.