Brookstone Capital Management reduced its holdings in Procter & Gamble Company (The) (NYSE:PG – Free Report) by 6.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 58,771 shares of the company’s stock after selling 4,123 shares during the period. Brookstone Capital Management’s holdings in Procter & Gamble were worth $8,489,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the business. Norges Bank purchased a new position in Procter & Gamble in the 4th quarter worth approximately $4,664,783,000. Cardano Risk Management B.V. boosted its holdings in shares of Procter & Gamble by 1,104.8% during the 4th quarter. Cardano Risk Management B.V. now owns 9,521,440 shares of the company’s stock worth $1,364,518,000 after purchasing an additional 8,731,126 shares during the last quarter. Auto Owners Insurance Co grew its position in shares of Procter & Gamble by 14,231.0% in the fourth quarter. Auto Owners Insurance Co now owns 3,549,645 shares of the company’s stock valued at $508,700,000 after purchasing an additional 3,524,876 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Procter & Gamble by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 237,459,756 shares of the company’s stock valued at $34,030,358,000 after purchasing an additional 2,829,151 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Procter & Gamble by 100.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 5,460,939 shares of the company’s stock valued at $782,607,000 after purchasing an additional 2,741,924 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.
Procter & Gamble Trading Down 1.7%
PG opened at $147.81 on Tuesday. The stock has a market capitalization of $344.19 billion, a PE ratio of 21.61, a P/E/G ratio of 6.54 and a beta of 0.39. Procter & Gamble Company has a one year low of $137.62 and a one year high of $167.25. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.53 and a current ratio of 0.73. The business’s 50 day moving average price is $145.45 and its 200 day moving average price is $147.82.
Procter & Gamble Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, April 24th were given a dividend of $1.0885 per share. This represents a $4.35 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, April 24th. This is a positive change from Procter & Gamble’s previous quarterly dividend of $1.06. Procter & Gamble’s dividend payout ratio is 63.60%.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the company. Royal Bank Of Canada lowered their price objective on Procter & Gamble from $172.00 to $167.00 and set an “outperform” rating on the stock in a research note on Thursday, April 9th. Rothschild & Co Redburn cut their target price on Procter & Gamble from $157.00 to $155.00 and set a “neutral” rating for the company in a research note on Monday, April 27th. Raymond James Financial reduced their price target on Procter & Gamble from $175.00 to $170.00 and set an “outperform” rating on the stock in a report on Tuesday, April 14th. Bank of America dropped their price objective on shares of Procter & Gamble from $171.00 to $167.00 and set a “buy” rating for the company in a report on Friday, April 10th. Finally, Sanford C. Bernstein began coverage on shares of Procter & Gamble in a research report on Thursday, June 11th. They set a “market perform” rating and a $156.00 price objective for the company. Eleven equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Procter & Gamble has an average rating of “Moderate Buy” and a consensus target price of $160.78.
Get Our Latest Analysis on Procter & Gamble
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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