Wesbanco Bank Inc. lowered its position in shares of Procter & Gamble Co (NYSE:PG) by 0.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 297,704 shares of the company’s stock after selling 1,467 shares during the period. Procter & Gamble accounts for approximately 1.4% of Wesbanco Bank Inc.’s investment portfolio, making the stock its 12th biggest holding. Wesbanco Bank Inc.’s holdings in Procter & Gamble were worth $27,085,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in PG. Asset Planning Services Ltd. grew its position in Procter & Gamble by 0.4% during the second quarter. Asset Planning Services Ltd. now owns 1,191 shares of the company’s stock worth $104,000 after buying an additional 5 shares in the last quarter. Harding Loevner LP acquired a new stake in Procter & Gamble during the second quarter worth approximately $119,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Procter & Gamble during the third quarter worth approximately $125,000. Blume Capital Management Inc. grew its position in Procter & Gamble by 25.4% during the second quarter. Blume Capital Management Inc. now owns 1,482 shares of the company’s stock worth $129,000 after buying an additional 300 shares in the last quarter. Finally, Legacy Advisors LLC acquired a new stake in Procter & Gamble during the third quarter worth approximately $174,000. Institutional investors own 59.57% of the company’s stock.
A number of brokerages have weighed in on PG. Zacks Investment Research raised Procter & Gamble from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a report on Monday, January 8th. Stifel Nicolaus set a $87.00 target price on Procter & Gamble and gave the company a “hold” rating in a report on Friday, October 20th. Goldman Sachs Group raised Procter & Gamble from a “sell” rating to a “neutral” rating and set a $77.00 target price on the stock in a report on Tuesday. Jefferies Group reaffirmed a “buy” rating and issued a $104.00 target price on shares of Procter & Gamble in a report on Tuesday, October 10th. Finally, Vetr raised Procter & Gamble from a “hold” rating to a “buy” rating and set a $93.02 target price on the stock in a report on Monday, October 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $88.51.
Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Friday, October 20th. The company reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.02. Procter & Gamble had a return on equity of 20.35% and a net margin of 23.72%. The company had revenue of $16.65 billion for the quarter, compared to the consensus estimate of $16.69 billion. During the same quarter last year, the business posted $1.03 EPS. Procter & Gamble’s revenue for the quarter was up .8% on a year-over-year basis. research analysts forecast that Procter & Gamble Co will post 4.19 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 19th will be issued a dividend of $0.6896 per share. This represents a $2.76 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend is Thursday, January 18th. Procter & Gamble’s dividend payout ratio (DPR) is 73.80%.
In related news, insider Carolyn M. Tastad sold 5,300 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $89.18, for a total transaction of $472,654.00. Following the sale, the insider now owns 57,191 shares of the company’s stock, valued at approximately $5,100,293.38. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider R. Alexandra Keith sold 1,298 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $89.11, for a total value of $115,664.78. Following the sale, the insider now directly owns 20,135 shares in the company, valued at approximately $1,794,229.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,719 shares of company stock worth $1,661,544. 0.35% of the stock is currently owned by company insiders.
About Procter & Gamble
The Procter & Gamble Company is focused on providing branded consumer packaged goods to the consumers across the world. The Company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care, and Baby, Feminine & Family Care. The Company sells its products in approximately 180 countries and territories primarily through mass merchandisers, grocery stores, membership club stores, drug stores, department stores, distributors, baby stores, specialty beauty stores, e-commerce, high-frequency stores and pharmacies.
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