Center Asset Management LLC Makes New Investment in The Procter & Gamble Company (NYSE:PG)



Center Asset Management LLC purchased a new position in shares of The Procter & Gamble Company (NYSE:PG – Get Rating) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,401 shares of the company’s stock, valued at approximately $2,812,000.

Other institutional investors have also modified their holdings of the company. First Affirmative Financial Network lifted its stake in shares of Procter & Gamble by 6.0% during the 1st quarter. First Affirmative Financial Network now owns 1,934 shares of the company’s stock worth $296,000 after purchasing an additional 109 during the period. North Star Asset Management Inc. its raised position in shares of Procter & Gamble by 1.4% in the 4th quarter. North Star Asset Management Inc. Now owns 18,819 shares of the company’s stock worth $3,078,000 after buying an additional 258 during the period. CCG Wealth Management LLC purchased a new position in shares of Procter & Gamble in the 1st quarter worth $566,000. Eagle Rock Investment Company LLC purchased a new position in shares of Procter & Gamble in the 4th quarter worth $394,000. Finally, Avondale Wealth Management raised its position in shares of Procter & Gamble by 28.6% in the 1st quarter. Avondale Wealth Management now owns 3,280 shares of the company’s stock worth $501,000 after buying an additional 730 shares during the period. 63.64% of the stock is currently owned by institutional investors.

Procter & Gamble stock opened at $144.35 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.47 and a current ratio of 0.68. The firm has a market cap of $346.34 billion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 3.92 and a beta of 0.40. The Procter & Gamble Company has a 1 year low of $129.50 and a 1 year high of $165.35. The firm’s 50 day moving average price is $149.07 and its two-hundred day moving average price is $154.32.

Procter & Gamble (NYSE:PG – Get Rating) last posted its quarterly earnings data on Wednesday, April 20th. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.05. Procter & Gamble had a net margin of 18.33% and a return on equity of 32.39%. The firm had revenue of $19.38 billion for the quarter, compared to analysts’ expectations of $18.69 billion. During the same period in the previous year, the company posted $1.26 EPS. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, equities analysts predict that The Procter & Gamble Company will post 5.84 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 16th. Investors of record on Friday, April 22nd were paid a $0.9133 dividend. This represents a $3.65 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend was Thursday, April 21st. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.87. Procter & Gamble’s payout ratio is presently 63.70%.

Several research analysts recently weighed in on PG shares. Raymond James increased their target price on Procter & Gamble from $175.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, April 21st. Credit Suisse Group increased their target price on Procter & Gamble from $140.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, April 21st. StockNews.com raised Procter & Gamble from a “hold” rating to a “buy” rating in a research report on Wednesday, May 18th. Evercore ISI set a $170.00 price objective on Procter & Gamble in a research report on Monday, June 20th. Finally, Barclays cut their objective price on Procter & Gamble from $176.00 to $157.00 and set an “overweight” rating on the stock in a research report on Monday, May 23rd. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Procter & Gamble has a consensus rating of “Moderate Buy” and a consensus target price of $165.64.

In related news, Chairman David S. Taylor sold 30,000 shares of the company’s stock in a transaction dated Monday, April 25th. The shares were sold at an average price of $162.83, for a total value of $4,884,900.00. Following the sale, the chairman now owns 253,933 shares of the company’s stock, valued at $41,347,910.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman David S. Taylor sold 60,000 shares of the company’s stock in a transaction dated Thursday, April 21st. The shares were sold at an average price of $164.52, for a total transaction of $9,871,200.00. Following the completion of the sale, the chairman now directly owns 253,933 shares in the company, valued at approximately $41,777,057.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 108,415 shares of company stock valued at $17,777,055. Company insiders own 0.51% of the company’s stock.

About Procter & Gamble (Get Rating)

The Procter & Gamble Company provides branded consumer packaged goods to consumers in North and Latin America, Europe, the Asia Pacific, Greater China, India, the Middle East, and Africa. It operates in five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care.

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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)



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