The Procter & Gamble Company (NYSE:PG) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp reduced its position in shares of The Procter & Gamble Company (NYSE:PG) by 1.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 310,863 shares of the company’s stock after selling 4,779 shares during the quarter. Procter & Gamble makes up about 0.8% of Peapack Gladstone Financial Corp’s investment portfolio, making the stock its 28th biggest position. Peapack Gladstone Financial Corp’s holdings in Procter & Gamble were worth $45,555,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. WealthPlan Investment Management LLC increased its position in Procter & Gamble by 420.4% in the third quarter. WealthPlan Investment Management LLC now owns 4,829 shares of the company’s stock worth $704,000 after buying an additional 3,901 shares during the period. Boston Partners grew its stake in shares of Procter & Gamble by 19.0% in the third quarter. Boston Partners now owns 29,467 shares of the company’s stock worth $4,298,000 after purchasing an additional 4,704 shares in the last quarter. PGGM Investments grew its stake in shares of Procter & Gamble by 11.3% in the third quarter. PGGM Investments now owns 196,035 shares of the company’s stock worth $28,594,000 after purchasing an additional 19,921 shares in the last quarter. Penobscot Investment Management Company Inc. grew its stake in shares of Procter & Gamble by 32.9% in the third quarter. Penobscot Investment Management Company Inc. now owns 74,105 shares of the company’s stock worth $10,809,000 after purchasing an additional 18,362 shares in the last quarter. Finally, Total Wealth Planning LLC grew its stake in shares of Procter & Gamble by 23.4% in the third quarter. Total Wealth Planning LLC now owns 28,577 shares of the company’s stock worth $4,168,000 after purchasing an additional 5,419 shares in the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

Procter & Gamble Stock Up 1.4 %

Procter & Gamble stock traded up $2.36 during mid-day trading on Tuesday, hitting $167.01. The company’s stock had a trading volume of 6,275,646 shares, compared to its average volume of 6,629,945. The Procter & Gamble Company has a 52-week low of $141.45 and a 52-week high of $168.54. The firm’s 50 day moving average is $162.09 and its 200 day moving average is $156.53. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.69 and a quick ratio of 0.48. The company has a market cap of $394.17 billion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 3.34 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Friday, April 19th. The company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.10. Procter & Gamble had a return on equity of 33.91% and a net margin of 18.00%. The company had revenue of $20.20 billion during the quarter, compared to the consensus estimate of $20.43 billion. During the same period last year, the business earned $1.37 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. On average, analysts anticipate that The Procter & Gamble Company will post 6.55 earnings per share for the current year.

Procter & Gamble Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Friday, April 19th were paid a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.41%. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Thursday, April 18th. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.85%.

Analyst Ratings Changes

Several research analysts have recently issued reports on PG shares. Barclays increased their price target on Procter & Gamble from $168.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 23rd. StockNews.com raised Procter & Gamble from a “hold” rating to a “buy” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft decreased their target price on Procter & Gamble from $172.00 to $171.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. The Goldman Sachs Group began coverage on Procter & Gamble in a research note on Friday, March 1st. They set a “neutral” rating and a $168.00 target price for the company. Finally, Argus raised their target price on Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $169.76.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, CEO R. Alexandra Keith sold 855 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $158.50, for a total value of $135,517.50. Following the sale, the chief executive officer now owns 4,004 shares of the company’s stock, valued at approximately $634,634. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO R. Alexandra Keith sold 855 shares of Procter & Gamble stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $158.50, for a total transaction of $135,517.50. Following the sale, the chief executive officer now owns 4,004 shares of the company’s stock, valued at approximately $634,634. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar G. Raman sold 31,924 shares of Procter & Gamble stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $166.95, for a total value of $5,329,711.80. Following the sale, the chief executive officer now directly owns 19,042 shares in the company, valued at approximately $3,179,061.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 154,544 shares of company stock valued at $25,413,051. Corporate insiders own 0.17% of the company’s stock.

About Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.