Spinnaker Trust Sells 980 Shares of The Procter & Gamble Company (NYSE:PG)

Spinnaker Trust lowered its holdings in The Procter & Gamble Company (NYSE:PG) by 2.2% in the third quarter, Holdings Channel reports. The firm owned 42,951 shares of the company’s stock after selling 980 shares during the quarter. Spinnaker Trust’s holdings in Procter & Gamble were worth $7,439,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PG. International Assets Investment Management LLC grew its position in shares of Procter & Gamble by 19,030.8% in the 3rd quarter. International Assets Investment Management LLC now owns 3,693,593 shares of the company’s stock valued at $639,730,000 after acquiring an additional 3,674,286 shares during the period. Wulff Hansen & CO. lifted its position in shares of Procter & Gamble by 16,292.0% in the second quarter. Wulff Hansen & CO. now owns 3,675,902 shares of the company’s stock valued at $606,230,000 after buying an additional 3,653,477 shares during the last quarter. TD Asset Management Inc raised its stake in Procter & Gamble by 114.9% in the 1st quarter. TD Asset Management Inc now owns 3,568,671 shares of the company’s stock valued at $579,017,000 after acquiring an additional 1,907,716 shares during the period. AMF Tjanstepension AB boosted its position in Procter & Gamble by 416.1% during the third quarter. AMF Tjanstepension AB now owns 1,818,490 shares of the company’s stock worth $315,016,000 after purchasing an additional 1,466,115 shares during the period. Finally, Swedbank AB bought a new position in shares of Procter & Gamble in the first quarter valued at about $233,788,000. 65.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Balaji Purushothaman sold 12,800 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $168.99, for a total value of $2,163,072.00. Following the sale, the insider now directly 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Procter & Gamble news, insider Susan Street Whaley sold 450 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 13,072 shares in the company, valued at approximately $2,212,043.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Balaji Purushothaman sold 12,800 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the transaction, the insider now directly owns 11,566 shares in the company, valued at approximately $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. Insiders have sold 385,771 shares of company stock valued at $65,610,975 in the last ninety days. 0.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PG has been the topic of several research analyst reports. Barclays cut 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 report on Monday, September 30th. Wolfe Research raised Procter & Gamble to a “strong-buy” rating in a report on Friday, August 23rd. DZ Bank raised Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 target price for the company in a report on Thursday, August 29th. StockNews.com downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $164.00 price objective on shares of Procter & Gamble in a report on Monday, October 21st. Nine analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $177.00.

Procter & Gamble Price Performance

Shares of NYSE PG traded down $2.69 during midday trading on Wednesday, reaching $163.07. 2,309,109 shares of the company were exchanged, compared to its average volume of 6,608,683. The stock’s 50-day moving average price is $171.45 and its 200-day moving average price is $168.18. The stock has a market cap of $384.04 billion, a P/E ratio of 28.58, a PEG ratio of 3.57 and a beta of 0.42. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a one year low of $142.50 and a one year high of $177.94.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.03. The business had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. Procter & Gamble’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.83 EPS. On average, sell-side analysts anticipate that The Procter & Gamble Company will post 6.94 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be given a dividend of $1.0065 per share. The ex-dividend date is Friday, October 18th. This represents a $4.03 annualized dividend and a yield of 2.47%. Procter & Gamble’s dividend payout ratio is presently 69.48%.

Procter & Gamble Company 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.