Comerica Bank lifted its holdings in The Procter & Gamble Company (NYSE:PG – Free Report) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 813,767 shares of the company’s stock after purchasing an additional 11,692 shares during the quarter. Procter & Gamble comprises 0.6% of Comerica Bank’s holdings, making the stock its 25th biggest position. Comerica Bank’s holdings in Procter & Gamble were worth $134,206,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of PG. Itau Unibanco Holding S.A. acquired a new position in Procter & Gamble during the 2nd quarter worth approximately $28,000. Fairway Wealth LLC acquired a new position in Procter & Gamble during the 2nd quarter worth approximately $29,000. Transcendent Capital Group LLC bought a new stake in shares of Procter & Gamble during the 4th quarter worth approximately $31,000. Ruedi Wealth Management Inc. raised its stake in shares of Procter & Gamble by 64.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock worth $32,000 after purchasing an additional 77 shares in the last quarter. Finally, POM Investment Strategies LLC bought a new stake in shares of Procter & Gamble during the 2nd quarter worth approximately $34,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Procter & Gamble
In related news, CEO Ma. Fatima Francisco sold 96,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $170.00, for a total transaction of $16,320,000.00. Following the sale, the chief executive officer now directly owns 13,721 shares in the company, valued at approximately $2,332,570. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Ma. Fatima Francisco sold 96,000 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $170.00, for a total value of $16,320,000.00. Following the completion of the transaction, the chief executive officer now directly owns 13,721 shares in the company, valued at approximately $2,332,570. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Susan Street Whaley sold 450 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total value of $76,149.00. Following the sale, the insider now owns 13,072 shares of the company’s stock, valued at $2,212,043.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 375,553 shares of company stock worth $63,829,141. 0.17% of the stock is owned by company insiders.
Procter & Gamble Stock Performance
Procter & Gamble (NYSE:PG – Get Free Report) last issued its 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 firm had revenue of $20.53 billion for the quarter, compared to analyst estimates of $20.69 billion. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The business’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the company posted $1.37 earnings per share. On average, equities research analysts forecast that The Procter & Gamble Company will post 6.97 EPS for the current year.
Procter & Gamble Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Friday, July 19th were paid a dividend of $1.0065 per share. The ex-dividend date of this dividend was Friday, July 19th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.32%. Procter & Gamble’s payout ratio is 65.69%.
Wall Street Analysts Forecast Growth
PG has been the topic of a number of analyst reports. Royal Bank of Canada upped their price objective on Procter & Gamble from $157.00 to $164.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 31st. Jefferies Financial Group cut Procter & Gamble from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $182.00 to $175.00 in a research note on Wednesday, July 24th. JPMorgan Chase & Co. increased their price target on Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Wolfe Research upgraded Procter & Gamble to a “strong-buy” rating in a research note on Friday, August 23rd. Finally, Dbs Bank cut Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $175.89.
Read Our Latest Stock Analysis on PG
About Procter & Gamble
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.
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