Summit Wealth & Retirement Planning Inc. Cuts Stock Holdings in The Procter & Gamble Company (NYSE:PG)

Summit Wealth & Retirement Planning Inc. reduced its position in The Procter & Gamble Company (NYSE:PG) by 19.1% in the third quarter, Holdings Channel.com reports. The fund owned 2,109 shares of the company’s stock after selling 497 shares during the period. Summit Wealth & Retirement Planning Inc.’s holdings in Procter & Gamble were worth $365,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Concurrent Investment Advisors LLC raised its position in Procter & Gamble by 4.5% in the third quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock worth $16,300,000 after acquiring an additional 4,035 shares during the period. Radnor Capital Management LLC purchased a new position in Procter & Gamble during the third quarter valued at $5,705,000. Welch Group LLC grew its holdings in Procter & Gamble by 0.9% during the third quarter. Welch Group LLC now owns 323,870 shares of the company’s stock valued at $56,094,000 after purchasing an additional 2,990 shares during the period. GAMMA Investing LLC increased its position in Procter & Gamble by 67.2% in the second quarter. GAMMA Investing LLC now owns 26,803 shares of the company’s stock worth $4,420,000 after buying an additional 10,777 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. grew its stake in shares of Procter & Gamble by 15.0% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 426,820 shares of the company’s stock valued at $73,925,000 after acquiring an additional 55,620 shares during the period. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Procter & Gamble

In related news, insider Balaji Purushothaman sold 12,800 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $168.99, for a total value of $2,163,072.00. Following the transaction, the insider now owns 11,566 shares of the company’s stock, valued at $1,954,538.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Procter & Gamble news, insider Susan Street Whaley sold 450 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $169.22, for a total transaction of $76,149.00. Following the completion of the sale, the insider now owns 13,072 shares in the company, valued at $2,212,043.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Balaji Purushothaman sold 12,800 shares of Procter & Gamble stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total value of $2,163,072.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 313,597 shares of company stock worth $53,268,499. 0.18% of the stock is currently owned by insiders.

Procter & Gamble Price Performance

Procter & Gamble stock opened at $167.71 on Friday. The Procter & Gamble Company has a 12-month low of $142.50 and a 12-month high of $177.94. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $171.08 and a 200-day moving average price of $168.15. The firm has a market capitalization of $394.96 billion, a PE ratio of 28.92, a price-to-earnings-growth ratio of 3.48 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.03. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The business had revenue of $21.74 billion during the quarter, compared to the consensus estimate of $21.99 billion. During the same quarter last year, the firm earned $1.83 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. As a group, equities research analysts forecast that The Procter & Gamble Company will post 6.94 EPS for the current year.

Procter & Gamble Announces Dividend

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 paid a $1.0065 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a yield of 2.40%. Procter & Gamble’s payout ratio is 69.31%.

Analysts Set New Price Targets

Several brokerages have recently commented on PG. Hsbc Global Res upgraded shares of Procter & Gamble to a “strong-buy” rating in a research report on Friday, October 4th. Royal Bank of Canada restated a “sector perform” rating and issued a $164.00 price objective on shares of Procter & Gamble in a research report on Monday, October 21st. Jefferies Financial Group downgraded Procter & Gamble from a “buy” rating to a “hold” rating and decreased their target price for the company from $182.00 to $175.00 in a research note on Wednesday, July 24th. Barclays lowered shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price objective for the company. in a report on Monday, September 30th. Finally, TD Cowen initiated coverage on shares of Procter & Gamble in a report on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 target price on the stock. Nine analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Procter & Gamble currently has an average rating of “Moderate Buy” and an average target price of $177.00.

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.