Summit Wealth Partners LLC Has $446,000 Holdings in The Procter & Gamble Company (NYSE:PG)

Summit Wealth Partners LLC reduced its stake in shares of The Procter & Gamble Company (NYSE:PG) by 21.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,703 shares of the company’s stock after selling 756 shares during the period. Summit Wealth Partners LLC’s holdings in Procter & Gamble were worth $446,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Legal & General Group Plc increased its stake in shares of Procter & Gamble by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 21,632,054 shares of the company’s stock valued at $3,567,556,000 after acquiring an additional 122,190 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Procter & Gamble by 5.5% during 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 purchasing an additional 554,451 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Procter & Gamble by 8.2% during 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. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Procter & Gamble by 9.7% in the 1st 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 Procter & Gamble by 1.3% in the 1st 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 in the last quarter. Institutional investors own 65.77% of the company’s stock.

Insider Buying and Selling

In other news, insider Balaji Purushothaman sold 8,842 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were 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 of the company’s stock, valued at $1,902,451.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Procter & Gamble news, insider Balaji Purushothaman sold 8,842 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the transaction, the insider now directly owns 11,537 shares of the company’s stock, valued at approximately $1,902,451.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO R. Alexandra Keith sold 3,373 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $170.00, for a total transaction of $573,410.00. Following the completion of the sale, the chief executive officer now owns 21,513 shares of the company’s stock, valued at $3,657,210. The disclosure for this sale can be found here. Insiders have sold a total of 375,553 shares of company stock valued at $63,829,141 over the last three months. 0.17% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PG shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Procter & Gamble from $171.00 to $176.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. TD Cowen assumed coverage on Procter & Gamble in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 price target for the company. Evercore ISI lifted their price objective on shares of Procter & Gamble from $177.00 to $183.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Citigroup increased their target price on shares of Procter & Gamble from $177.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Jefferies Financial Group cut shares of Procter & Gamble from a “buy” rating to a “hold” rating and cut their price target for the stock from $182.00 to $175.00 in a report on Wednesday, July 24th. Nine investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $175.89.

Procter & Gamble Trading Down 0.1 %

Shares of Procter & Gamble stock opened at $173.07 on Wednesday. The company has a 50 day simple moving average of $171.01 and a two-hundred day simple moving average of $166.36. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.53. The firm has a market cap of $408.47 billion, a PE ratio of 28.28, a PEG ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a 1 year low of $141.45 and a 1 year high of $177.94.

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

Procter & Gamble Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were paid a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Friday, July 19th. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.69%.

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.