The Procter & Gamble Company (NYSE:PG) Shares Sold by Concorde Asset Management LLC

Concorde Asset Management LLC trimmed its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 4.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,679 shares of the company’s stock after selling 82 shares during the quarter. Concorde Asset Management LLC’s holdings in Procter & Gamble were worth $277,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fisher Asset Management LLC increased its stake in Procter & Gamble by 5.5% during the 4th quarter. Fisher Asset Management LLC now owns 10,552,081 shares of the company’s stock worth $1,546,302,000 after buying an additional 554,451 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Procter & Gamble by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,691,925 shares of the company’s stock valued at $1,598,510,000 after acquiring an additional 733,440 shares in the last quarter. Sanders Capital LLC increased its holdings in shares of Procter & Gamble by 3.3% in the fourth quarter. Sanders Capital LLC now owns 6,987,508 shares of the company’s stock valued at $1,023,949,000 after purchasing an additional 223,798 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Procter & Gamble by 9.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,161,507 shares of the company’s stock worth $999,705,000 after buying an additional 545,601 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Procter & Gamble by 1.3% in the 1st quarter. Janus Henderson Group PLC now owns 6,008,938 shares of the company’s stock valued at $974,914,000 after buying an additional 79,665 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Procter & Gamble Price Performance

Shares of PG opened at $173.91 on Thursday. The company has a market capitalization of $410.45 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a fifty-two week low of $141.45 and a fifty-two week high of $177.94. The firm has a 50-day simple moving average of $169.94 and a 200-day simple moving average of $165.55. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.53 and a current ratio of 0.73.

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

Procter & Gamble Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were issued a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend was Friday, July 19th. Procter & Gamble’s dividend payout ratio (DPR) is currently 65.85%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus raised 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. StockNews.com downgraded Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft raised 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 cut their price target for the stock from $182.00 to $175.00 in a report on Wednesday, July 24th. Finally, Wolfe Research upgraded shares of Procter & Gamble to a “strong-buy” rating in a research note on Friday, August 23rd. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $175.79.

Insiders Place Their Bets

In other news, insider Balaji Purushothaman sold 8,842 shares of the stock in a transaction dated 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 transaction, the insider now owns 11,537 shares in the company, valued at approximately $1,902,451.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Procter & Gamble news, CEO R. Alexandra Keith sold 3,373 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $170.00, for a total value of $573,410.00. Following the sale, the chief executive officer now owns 21,513 shares of the company’s stock, valued at $3,657,210. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Balaji Purushothaman sold 8,842 shares of Procter & Gamble stock in a transaction 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 375,553 shares of company stock worth $63,829,141. Corporate insiders own 0.17% of the company’s stock.

Procter & Gamble Company Profile

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.