Motco cut its position in Procter & Gamble Company (The) (NYSE:PG – Free Report) by 7.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 66,629 shares of the company’s stock after selling 5,165 shares during the period. Motco’s holdings in Procter & Gamble were worth $9,549,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. boosted its stake in Procter & Gamble by 1,000.0% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 165 shares of the company’s stock worth $25,000 after purchasing an additional 150 shares during the last quarter. Park Square Financial Group LLC raised its position in shares of Procter & Gamble by 65.1% in the fourth quarter. Park Square Financial Group LLC now owns 180 shares of the company’s stock valued at $26,000 after buying an additional 71 shares during the last quarter. Maseco LLP acquired a new stake in shares of Procter & Gamble in the fourth quarter valued at about $28,000. Saranac Partners Ltd purchased a new position in shares of Procter & Gamble in the third quarter worth about $30,000. Finally, Caitlin John LLC acquired a new position in Procter & Gamble during the third quarter worth about $34,000. 65.77% of the stock is owned by institutional investors and hedge funds.
Procter & Gamble Stock Performance
Procter & Gamble stock opened at $142.59 on Thursday. The firm has a 50 day simple moving average of $145.36 and a 200-day simple moving average of $148.02. The stock has a market cap of $332.02 billion, a price-to-earnings ratio of 20.85, a price-to-earnings-growth ratio of 6.06 and a beta of 0.41. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.73 and a quick ratio of 0.53. Procter & Gamble Company has a 1-year low of $137.62 and a 1-year high of $170.99.
Procter & Gamble Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, April 24th were paid a $1.0885 dividend. This is a boost from Procter & Gamble’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend was Friday, April 24th. This represents a $4.35 annualized dividend and a dividend yield of 3.1%. Procter & Gamble’s dividend payout ratio is currently 63.60%.
Wall Street Analyst Weigh In
A number of research firms have commented on PG. TD Cowen increased their price objective on shares of Procter & Gamble from $142.00 to $150.00 and gave the company a “hold” rating in a report on Monday, April 27th. Raymond James Financial lowered their target price on Procter & Gamble from $175.00 to $170.00 and set an “outperform” rating on the stock in a report on Tuesday, April 14th. JPMorgan Chase & Co. dropped their price target on Procter & Gamble from $165.00 to $162.00 and set an “overweight” rating for the company in a research report on Friday, April 17th. Morgan Stanley reduced their price objective on Procter & Gamble from $175.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 22nd. Finally, Erste Group Bank lowered Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Eleven investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Procter & Gamble currently has a consensus rating of “Moderate Buy” and an average target price of $161.06.
Read Our Latest Stock Analysis on PG
Insider Buying and Selling at Procter & Gamble
In other news, CEO Ma. Fatima Francisco sold 5,549 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $165.29, for a total transaction of $917,194.21. Following the completion of the transaction, the chief executive officer directly owned 1,029 shares in the company, valued at approximately $170,083.41. This represents a 84.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.20% of the company’s stock.
About Procter & Gamble
Procter & Gamble (NYSE: PG) is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world’s largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.
P&G’s product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.
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