SOL Capital Management CO Sells 2,015 Shares of The Procter & Gamble Company (NYSE:PG)

SOL Capital Management CO cut its stake in The Procter & Gamble Company (NYSE:PG) by 12.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,758 shares of the company’s stock after selling 2,015 shares during the quarter. SOL Capital Management CO’s holdings in Procter & Gamble were worth $2,307,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Concurrent Investment Advisors LLC raised its position in shares of Procter & Gamble by 4.5% during the third quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock worth $16,300,000 after purchasing an additional 4,035 shares during the period. Copley Financial Group Inc. acquired a new stake in Procter & Gamble during the 3rd quarter worth approximately $668,000. Fortem Financial Group LLC bought a new position in Procter & Gamble in the fourth quarter valued at approximately $569,000. Nordea Investment Management AB boosted its holdings in shares of Procter & Gamble by 7.5% in the fourth quarter. Nordea Investment Management AB now owns 2,898,569 shares of the company’s stock valued at $484,583,000 after buying an additional 201,695 shares during the period. Finally, Synovus Financial Corp increased its position in shares of Procter & Gamble by 3.4% during the third quarter. Synovus Financial Corp now owns 185,134 shares of the company’s stock worth $32,065,000 after acquiring an additional 6,077 shares in the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Morgan Stanley upped their price objective on Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Barclays lifted their target price on Procter & Gamble from $155.00 to $159.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. Hsbc Global Res raised Procter & Gamble to a “strong-buy” rating in a research report on Friday, October 4th. Finally, Evercore ISI boosted their price objective on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $180.53.

Insider Activity at Procter & Gamble

In other news, insider Marc S. Pritchard sold 90,450 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total value of $14,819,328.00. Following the completion of the sale, the insider now owns 172,814 shares of the company’s stock, valued at approximately $28,313,845.76. The trade was a 34.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Balaji Purushothaman sold 12,800 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $172.73, for a total transaction of $2,210,944.00. Following the transaction, the insider now directly owns 11,595 shares in the company, valued at approximately $2,002,804.35. This represents a 52.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 151,097 shares of company stock worth $25,635,076 in the last ninety days. 0.18% of the stock is owned by company insiders.

Procter & Gamble Trading Down 0.9 %

PG stock opened at $165.98 on Friday. The Procter & Gamble Company has a one year low of $153.52 and a one year high of $180.43. The stock has a market cap of $389.20 billion, a price-to-earnings ratio of 26.43, a price-to-earnings-growth ratio of 3.73 and a beta of 0.45. The company has a fifty day moving average price of $168.54 and a two-hundred day moving average price of $169.38. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55.

Procter & Gamble (NYSE:PG) last announced its earnings results on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.86 by $0.02. The business had revenue of $21.88 billion during the quarter, compared to the consensus estimate of $21.66 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. Procter & Gamble’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.84 EPS. Equities analysts anticipate that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 24th will be issued a dividend of $1.0065 per share. The ex-dividend date of this dividend is Friday, January 24th. This represents a $4.03 annualized dividend and a yield of 2.43%. Procter & Gamble’s payout ratio is currently 64.17%.

About Procter & Gamble

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.