The Procter & Gamble Company (NYSE:PG) Shares Sold by Washington Trust Bank

Washington Trust Bank trimmed its position in The Procter & Gamble Company (NYSE:PG) by 0.9% during the third quarter, Holdings Channel.com reports. The firm owned 250,187 shares of the company’s stock after selling 2,203 shares during the period. Procter & Gamble accounts for approximately 4.1% of Washington Trust Bank’s holdings, making the stock its 3rd largest position. Washington Trust Bank’s holdings in Procter & Gamble were worth $43,332,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Procter & Gamble during the second quarter worth about $28,000. Fairway Wealth LLC purchased a new stake in shares of Procter & Gamble in the 2nd quarter valued at about $29,000. Ruedi Wealth Management Inc. lifted its holdings in shares of Procter & Gamble by 64.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock valued at $32,000 after purchasing an additional 77 shares during the last quarter. POM Investment Strategies LLC purchased a new stake in shares of Procter & Gamble in the 2nd quarter valued at about $34,000. Finally, Quest Partners LLC purchased a new stake in shares of Procter & Gamble in the 2nd quarter valued at about $36,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PG shares. Deutsche Bank Aktiengesellschaft boosted their target price on Procter & Gamble from $171.00 to $176.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Jefferies Financial Group downgraded Procter & Gamble from a “buy” rating to a “hold” rating and reduced their target price for the company from $182.00 to $175.00 in a report on Wednesday, July 24th. DZ Bank raised Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a research note on Thursday, August 29th. TD Cowen started coverage on Procter & Gamble in a research note on Tuesday, July 23rd. They set a “buy” rating and a $189.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their price objective on Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Nine research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $177.00.

Insiders Place Their Bets

In other news, CEO Jon R. Moeller sold 37,240 shares of Procter & Gamble stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $168.89, for a total transaction of $6,289,463.60. Following the sale, the chief executive officer now owns 263,537 shares of the company’s stock, valued at approximately $44,508,763.93. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Jon R. Moeller sold 37,240 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $168.89, for a total transaction of $6,289,463.60. Following the transaction, the chief executive officer now owns 263,537 shares in the company, valued at $44,508,763.93. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Balaji Purushothaman sold 12,800 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the transaction, the insider now owns 11,566 shares in the company, valued at $1,954,538.34. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 385,771 shares of company stock valued at $65,610,975 over the last quarter. Insiders own 0.18% of the company’s stock.

Procter & Gamble Stock Up 0.6 %

NYSE PG traded up $0.93 during trading hours on Thursday, hitting $161.98. The company had a trading volume of 77,229 shares, compared to its average volume of 6,620,873. The Procter & Gamble Company has a fifty-two week low of $142.50 and a fifty-two week high of $177.94. The company has a market capitalization of $381.47 billion, a price-to-earnings ratio of 27.76, a P/E/G ratio of 3.57 and a beta of 0.42. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55. The firm’s 50 day moving average is $171.29 and its 200 day moving average is $168.13.

Procter & Gamble (NYSE:PG) last announced its earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.03. The company had revenue of $21.74 billion during the quarter, compared to the consensus estimate of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The company’s revenue was down .6% on a year-over-year basis. During the same period last year, the firm earned $1.83 earnings per share. Sell-side analysts anticipate that The Procter & Gamble Company will post 6.94 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be issued a $1.0065 dividend. The ex-dividend date is Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a yield of 2.49%. Procter & Gamble’s dividend payout ratio is currently 69.48%.

Procter & Gamble Profile

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, SK-II, and Native brands.