Virtue Capital Management LLC cut its stake in Procter & Gamble Co (NYSE:PG) by 91.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,134 shares of the company’s stock after selling 22,312 shares during the period. Procter & Gamble accounts for approximately 0.4% of Virtue Capital Management LLC’s investment portfolio, making the stock its 26th largest holding. Virtue Capital Management LLC’s holdings in Procter & Gamble were worth $235,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. New England Investment & Retirement Group Inc. bought a new position in shares of Procter & Gamble in the first quarter worth $28,000. Efficient Wealth Management LLC bought a new position in shares of Procter & Gamble in the first quarter worth $39,000. Pacifica Partners Inc. bought a new position in shares of Procter & Gamble in the fourth quarter worth $44,000. Lighthouse Financial Advisors Inc. bought a new position in shares of Procter & Gamble in the fourth quarter worth $44,000. Finally, grace capital bought a new position in shares of Procter & Gamble in the fourth quarter worth $44,000. 63.44% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO R. Alexandra Keith sold 7,360 shares of the firm’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $120.00, for a total transaction of $883,200.00. Following the completion of the sale, the chief executive officer now directly owns 44,746 shares of the company’s stock, valued at approximately $5,369,520. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Deborah P. Majoras sold 12,589 shares of the firm’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $122.68, for a total value of $1,544,418.52. Following the sale, the insider now directly owns 44,948 shares of the company’s stock, valued at $5,514,220.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,963,114 shares of company stock valued at $1,067,197,986. Company insiders own 1.75% of the company’s stock.
Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Friday, April 17th. The company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.04. The firm had revenue of $17.21 billion during the quarter, compared to the consensus estimate of $17.29 billion. Procter & Gamble had a return on equity of 29.15% and a net margin of 7.09%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.06 EPS. As a group, analysts forecast that Procter & Gamble Co will post 4.95 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, April 24th were paid a $0.7907 dividend. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.75. This represents a $3.16 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend was Thursday, April 23rd. Procter & Gamble’s dividend payout ratio is currently 69.91%.
Several research firms have recently issued reports on PG. Citigroup increased their price target on Procter & Gamble from $143.00 to $146.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Argus raised Procter & Gamble from a “hold” rating to a “buy” rating and set a $120.00 target price for the company in a research note on Thursday, March 26th. TheStreet raised Procter & Gamble from a “c+” rating to a “b” rating in a research note on Tuesday, April 14th. Morgan Stanley raised their target price on Procter & Gamble from $125.00 to $134.00 and gave the company an “overweight” rating in a research note on Tuesday, April 21st. Finally, Deutsche Bank raised their target price on Procter & Gamble from $130.00 to $131.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $130.31.
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.
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