Granite Investment Partners LLC Has $2.13 Million Stock Holdings in The Procter & Gamble Company (NYSE:PG)

Granite Investment Partners LLC reduced its holdings in The Procter & Gamble Company (NYSE:PG) by 4.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,939 shares of the company’s stock after selling 550 shares during the quarter. Granite Investment Partners LLC’s holdings in Procter & Gamble were worth $2,134,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fairway Wealth LLC acquired a new position in Procter & Gamble during the 2nd quarter valued at about $29,000. Transcendent Capital Group LLC bought a new position in shares of Procter & Gamble during the fourth quarter valued at about $31,000. Ruedi Wealth Management Inc. increased its stake in 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 buying an additional 77 shares during the last quarter. POM Investment Strategies LLC purchased a new position in shares of Procter & Gamble in the 2nd quarter worth approximately $34,000. Finally, Vima LLC bought a new position in shares of Procter & Gamble in the fourth quarter valued at approximately $35,000. 65.77% of the stock is currently owned by institutional investors.

Procter & Gamble Stock Up 1.6 %

Shares of NYSE PG opened at $174.22 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average of $170.21 and a 200-day moving average of $165.69. The firm has a market capitalization of $411.18 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 3.84 and a beta of 0.41. The Procter & Gamble Company has a 12 month low of $141.45 and a 12 month high of $177.94.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.03. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The firm had revenue of $20.53 billion for the quarter, compared to analyst estimates of $20.69 billion. During the same quarter in the prior year, the firm earned $1.37 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year. Sell-side analysts expect that The Procter & Gamble Company will post 6.97 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Friday, July 19th were issued a dividend of $1.0065 per share. The ex-dividend date was Friday, July 19th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.31%. Procter & Gamble’s dividend payout ratio is 65.85%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wolfe Research raised Procter & Gamble to a “strong-buy” rating in a research report on Friday, August 23rd. Stifel Nicolaus lifted their price objective on shares of Procter & Gamble from $157.00 to $161.00 and gave the stock a “hold” rating in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Procter & Gamble from $171.00 to $176.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. BNP Paribas started coverage on shares of Procter & Gamble in a report on Monday, June 24th. They issued an “outperform” rating and a $187.00 price target on the stock. Finally, 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 report on Thursday, August 29th. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Procter & Gamble has a consensus rating of “Moderate Buy” and a consensus price target of $176.16.

Insiders Place Their Bets

In other news, insider Balaji Purushothaman sold 8,842 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $164.90, for a total value of $1,458,045.80. Following the completion of the sale, the insider now directly owns 11,537 shares in the company, valued at approximately $1,902,451.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Procter & Gamble news, insider Balaji Purushothaman sold 8,842 shares of Procter & Gamble stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $164.90, for a total value of $1,458,045.80. Following the transaction, the insider now directly owns 11,537 shares of the company’s stock, valued at approximately $1,902,451.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO R. Alexandra Keith sold 3,373 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $170.00, for a total transaction of $573,410.00. Following the completion of the sale, the chief executive officer now directly owns 21,513 shares in the company, valued at approximately $3,657,210. The disclosure for this sale can be found here. Insiders sold a total of 375,553 shares of company stock valued at $63,829,141 over the last quarter. 0.17% of the stock is owned by corporate insiders.

About Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.