ProVise Management Group LLC Sells 6,022 Shares of The Procter & Gamble Company (NYSE:PG)

ProVise Management Group LLC cut its stake in shares of The Procter & Gamble Company (NYSE:PG) by 18.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,992 shares of the company’s stock after selling 6,022 shares during the quarter. ProVise Management Group LLC’s holdings in Procter & Gamble were worth $4,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Fisher Asset Management LLC boosted its holdings in Procter & Gamble by 5.5% in the fourth quarter. Fisher Asset Management LLC now owns 10,552,081 shares of the company’s stock valued at $1,546,302,000 after acquiring an additional 554,451 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Procter & Gamble by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,691,925 shares of the company’s stock worth $1,598,510,000 after purchasing an additional 733,440 shares in the last quarter. Sanders Capital LLC lifted its position in shares of Procter & Gamble by 3.3% in the 4th quarter. Sanders Capital LLC now owns 6,987,508 shares of the company’s stock worth $1,023,949,000 after purchasing an additional 223,798 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Procter & Gamble by 9.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,161,507 shares of the company’s stock valued at $999,705,000 after buying an additional 545,601 shares during the period. Finally, Janus Henderson Group PLC increased its position in shares of Procter & Gamble by 1.3% during the first quarter. Janus Henderson Group PLC now owns 6,008,938 shares of the company’s stock valued at $974,914,000 after buying an additional 79,665 shares during the period. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on PG shares. Dbs Bank cut Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Barclays dropped their price target on Procter & Gamble from $174.00 to $163.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. TD Cowen started coverage on Procter & Gamble in a report on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 price objective for the company. BNP Paribas initiated coverage on shares of Procter & Gamble in a report on Monday, June 24th. They set an “outperform” rating and a $187.00 target price on the stock. Finally, DZ Bank upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price target for the company in a research note on Thursday, August 29th. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $176.16.

Insider Activity

In related news, insider Balaji Purushothaman sold 8,842 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $164.90, for a total value of $1,458,045.80. Following the sale, the insider now owns 11,537 shares in the company, valued at $1,902,451.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Susan Street Whaley sold 450 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total value of $76,149.00. Following the transaction, the insider now owns 13,072 shares in the company, valued at approximately $2,212,043.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Balaji Purushothaman sold 8,842 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the completion of the transaction, the insider now directly owns 11,537 shares in the company, valued at approximately $1,902,451.30. The disclosure for this sale can be found here. Insiders sold 375,553 shares of company stock valued at $63,829,141 over the last three months. Insiders own 0.17% of the company’s stock.

Procter & Gamble Stock Performance

PG stock opened at $171.54 on Friday. The stock’s 50 day simple moving average is $170.06 and its 200 day simple moving average is $165.59. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.51. The Procter & Gamble Company has a 12-month low of $141.45 and a 12-month high of $177.94. The stock has a market capitalization of $404.86 billion, a PE ratio of 28.03, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.03. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The firm had revenue of $20.53 billion for the quarter, compared to the consensus estimate of $20.69 billion. During the same period in the prior year, the company posted $1.37 earnings per share. The company’s quarterly revenue was down .1% on a year-over-year basis. As a group, research analysts forecast that The Procter & Gamble Company will post 6.97 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were paid a $1.0065 dividend. The ex-dividend date was Friday, July 19th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.35%. Procter & Gamble’s dividend payout ratio is presently 65.85%.

Procter & Gamble 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.