Carnegie Investment Counsel Sells 7,267 Shares of The Procter & Gamble Company (NYSE:PG)

Carnegie Investment Counsel lowered its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 11.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,028 shares of the company’s stock after selling 7,267 shares during the quarter. Carnegie Investment Counsel’s holdings in Procter & Gamble were worth $10,051,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of PG. Voisard Asset Management Group Inc. bought a new stake in shares of Procter & Gamble in the 4th quarter worth about $75,000. Able Wealth Management LLC bought a new stake in shares of Procter & Gamble in the 4th quarter worth about $154,000. GLOBALT Investments LLC GA bought a new stake in shares of Procter & Gamble in the 4th quarter worth about $840,000. WNY Asset Management LLC lifted its holdings in shares of Procter & Gamble by 5.4% in the 4th quarter. WNY Asset Management LLC now owns 8,815 shares of the company’s stock worth $1,292,000 after acquiring an additional 452 shares during the last quarter. Finally, Proathlete Wealth Management LLC bought a new stake in shares of Procter & Gamble in the 4th quarter worth about $720,000. Institutional investors own 65.77% of the company’s stock.

Procter & Gamble Stock Up 1.3 %

Shares of Procter & Gamble stock opened at $171.09 on Friday. The firm’s 50 day moving average price is $171.48 and its 200-day moving average price is $166.78. The company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 0.51. The Procter & Gamble Company has a 52-week low of $141.66 and a 52-week high of $177.94. The company has a market cap of $403.80 billion, a P/E ratio of 27.96, a PEG ratio of 3.67 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last released its 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. The company had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $20.69 billion. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. Procter & Gamble’s revenue for the quarter was down .1% on a year-over-year basis. During the same period last year, the business earned $1.37 EPS. On average, sell-side analysts predict that The Procter & Gamble Company will post 6.97 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be paid a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Friday, October 18th. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.69%.

Analyst Ratings Changes

PG has been the subject of several analyst reports. Citigroup raised their target price on shares of Procter & Gamble from $177.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Hsbc Global Res raised shares of Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. Dbs Bank downgraded shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft raised their price target on shares of Procter & Gamble from $171.00 to $176.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, Barclays downgraded shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price target on the stock. in a research note on Monday, September 30th. Nine investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $176.21.

Insider Buying and Selling

In related news, CEO Jon R. Moeller sold 7,007 shares of Procter & Gamble stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $1,202,751.55. Following the completion of the sale, the chief executive officer now directly owns 269,172 shares in the company, valued at $46,203,373.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Procter & Gamble news, insider Susan Street Whaley sold 634 shares of Procter & Gamble stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total transaction of $108,826.10. Following the completion of the sale, the insider now directly owns 19,341 shares in the company, valued at approximately $3,319,882.65. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jon R. Moeller sold 7,007 shares of Procter & Gamble stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total transaction of $1,202,751.55. Following the sale, the chief executive officer now owns 269,172 shares of the company’s stock, valued at approximately $46,203,373.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 383,194 shares of company stock worth $65,140,718 in the last three months. Corporate insiders own 0.17% of the company’s stock.

About Procter & Gamble

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.