Procter & Gamble Co (PG) Shares Bought by Highstreet Asset Management Inc.
Highstreet Asset Management Inc. raised its holdings in shares of Procter & Gamble Co (NYSE:PG) by 10.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 244,787 shares of the company’s stock after purchasing an additional 23,585 shares during the quarter. Highstreet Asset Management Inc.’s holdings in Procter & Gamble were worth $19,108,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC increased its stake in shares of Procter & Gamble by 209.4% during the second quarter. RPg Family Wealth Advisory LLC now owns 1,349 shares of the company’s stock valued at $105,000 after buying an additional 913 shares during the period. Marshall & Sullivan Inc. WA purchased a new position in shares of Procter & Gamble during the second quarter valued at $149,000. Clearwater Capital Advisors LLC purchased a new position in shares of Procter & Gamble during the first quarter valued at $154,000. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Procter & Gamble by 296.5% during the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,038 shares of the company’s stock valued at $162,000 after buying an additional 1,524 shares during the period. Finally, Financial Gravity Wealth Inc. purchased a new position in shares of Procter & Gamble during the first quarter valued at $170,000. Institutional investors and hedge funds own 58.78% of the company’s stock.
Shares of PG stock opened at $93.55 on Friday. Procter & Gamble Co has a fifty-two week low of $70.73 and a fifty-two week high of $94.86. The stock has a market cap of $235.23 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 3.06 and a beta of 0.37. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.62 and a current ratio of 0.80.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Friday, October 19th were paid a dividend of $0.7172 per share. The ex-dividend date of this dividend was Thursday, October 18th. This represents a $2.87 dividend on an annualized basis and a dividend yield of 3.07%. Procter & Gamble’s payout ratio is 68.01%.
In other news, Vice Chairman Jon R. Moeller sold 228,905 shares of the business’s stock in a transaction dated Tuesday, November 13th. The stock was sold at an average price of $91.88, for a total transaction of $21,031,791.40. Following the sale, the insider now owns 209,033 shares in the company, valued at $19,205,952.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Carolyn M. Tastad sold 19,791 shares of the business’s stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $92.71, for a total value of $1,834,823.61. Following the sale, the insider now owns 60,575 shares in the company, valued at approximately $5,615,908.25. The disclosure for this sale can be found here. Insiders have sold 502,927 shares of company stock worth $46,437,282 in the last 90 days. Insiders own 1.84% of the company’s stock.
PG has been the topic of several analyst reports. Berenberg Bank set a $78.00 target price on Procter & Gamble and gave the company a “sell” rating in a research note on Monday, October 22nd. JPMorgan Chase & Co. upgraded Procter & Gamble from a “neutral” rating to an “overweight” rating and set a $100.00 target price on the stock in a research note on Friday, October 19th. Societe Generale set a $87.00 target price on Procter & Gamble and gave the company a “hold” rating in a research note on Tuesday, October 23rd. Bank of America lifted their target price on Procter & Gamble from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Tuesday, November 6th. Finally, Atlantic Securities initiated coverage on Procter & Gamble in a research note on Thursday, September 20th. They issued an “overweight” rating and a $94.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $88.38.
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Procter & Gamble Company 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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