Harrington Investments INC Trims Position in Procter & Gamble Co (NYSE:PG)

Harrington Investments INC decreased its position in Procter & Gamble Co (NYSE:PG) by 4.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 8,820 shares of the company’s stock after selling 419 shares during the period. Harrington Investments INC’s holdings in Procter & Gamble were worth $811,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its holdings in Procter & Gamble by 5,578,292.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 24,377,577 shares of the company’s stock valued at $2,028,947,000 after buying an additional 24,377,140 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in Procter & Gamble by 23.8% during the third quarter. TIAA CREF Investment Management LLC now owns 10,793,640 shares of the company’s stock worth $898,355,000 after purchasing an additional 2,078,176 shares during the period. C WorldWide Group Holding A S grew its stake in Procter & Gamble by 125.1% during the third quarter. C WorldWide Group Holding A S now owns 3,266,283 shares of the company’s stock worth $271,853,000 after purchasing an additional 1,815,368 shares during the period. Morgan Stanley grew its stake in Procter & Gamble by 11.3% during the third quarter. Morgan Stanley now owns 17,584,133 shares of the company’s stock worth $1,463,528,000 after purchasing an additional 1,784,225 shares during the period. Finally, Prudential Financial Inc. grew its stake in Procter & Gamble by 46.2% during the third quarter. Prudential Financial Inc. now owns 5,268,486 shares of the company’s stock worth $438,496,000 after purchasing an additional 1,665,790 shares during the period. Hedge funds and other institutional investors own 62.19% of the company’s stock.

PG has been the subject of a number of research reports. Credit Suisse Group set a $100.00 price objective on Procter & Gamble and gave the company a “hold” rating in a research note on Friday, May 10th. Zacks Investment Research cut Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Tuesday, March 26th. Deutsche Bank raised their target price on Procter & Gamble from $100.00 to $106.00 and gave the company a “hold” rating in a report on Wednesday, April 24th. Goldman Sachs Group reiterated a “neutral” rating and set a $111.00 price target on shares of Procter & Gamble in a report on Tuesday, April 23rd. Finally, UBS Group lifted their price target on Procter & Gamble to $102.00 and gave the stock a “neutral” rating in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $101.42.

PG stock traded up $0.29 during mid-day trading on Friday, hitting $111.20. 5,981,657 shares of the stock were exchanged, compared to its average volume of 8,260,373. The company has a quick ratio of 0.60, a current ratio of 0.79 and a debt-to-equity ratio of 0.39. Procter & Gamble Co has a 12 month low of $75.39 and a 12 month high of $111.75. The firm has a market cap of $275.11 billion, a P/E ratio of 26.35, a price-to-earnings-growth ratio of 3.53 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.02. The business had revenue of $16.46 billion during the quarter, compared to analyst estimates of $16.37 billion. Procter & Gamble had a return on equity of 21.61% and a net margin of 16.44%. Procter & Gamble’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.00 EPS. As a group, research analysts expect that Procter & Gamble Co will post 4.48 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Friday, April 19th were given a $0.7459 dividend. The ex-dividend date of this dividend was Wednesday, April 17th. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.72. This represents a $2.98 annualized dividend and a yield of 2.68%. Procter & Gamble’s dividend payout ratio is 70.62%.

In other news, insider Deborah P. Majoras sold 6,161 shares of the business’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $103.10, for a total transaction of $635,199.10. Following the sale, the insider now directly owns 44,996 shares of the company’s stock, valued at $4,639,087.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Valarie L. Sheppard sold 26,891 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $106.32, for a total transaction of $2,859,051.12. Following the sale, the vice president now directly owns 51,323 shares in the company, valued at $5,456,661.36. The disclosure for this sale can be found here. Insiders sold a total of 320,840 shares of company stock worth $33,904,086 over the last ninety days. 1.84% of the stock is currently owned by insiders.

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About Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company 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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