Sky Investment Group LLC Cuts Holdings in The Procter & Gamble Company (NYSE:PG)

Sky Investment Group LLC lowered its stake in The Procter & Gamble Company (NYSE:PG) by 0.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,881 shares of the company’s stock after selling 614 shares during the period. Procter & Gamble accounts for approximately 2.1% of Sky Investment Group LLC’s holdings, making the stock its 8th biggest holding. Sky Investment Group LLC’s holdings in Procter & Gamble were worth $11,030,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in PG. Alera Investment Advisors LLC raised its position in Procter & Gamble by 1.2% during the first quarter. Alera Investment Advisors LLC now owns 5,007 shares of the company’s stock valued at $812,000 after acquiring an additional 60 shares in the last quarter. Fiduciary Alliance LLC raised its position in Procter & Gamble by 2.8% during the second quarter. Fiduciary Alliance LLC now owns 2,261 shares of the company’s stock valued at $371,000 after acquiring an additional 61 shares in the last quarter. Demars Financial Group LLC raised its position in Procter & Gamble by 4.4% during the fourth quarter. Demars Financial Group LLC now owns 1,497 shares of the company’s stock valued at $219,000 after acquiring an additional 63 shares in the last quarter. LCM Capital Management Inc raised its position in Procter & Gamble by 1.1% during the first quarter. LCM Capital Management Inc now owns 5,701 shares of the company’s stock valued at $925,000 after acquiring an additional 63 shares in the last quarter. Finally, Prentice Wealth Management LLC raised its position in Procter & Gamble by 1.6% during the second quarter. Prentice Wealth Management LLC now owns 4,059 shares of the company’s stock valued at $669,000 after acquiring an additional 64 shares in the last quarter. Institutional investors own 65.77% of the company’s stock.

Procter & Gamble Price Performance

Shares of NYSE:PG traded up $1.51 during trading on Wednesday, reaching $168.80. The stock had a trading volume of 4,953,783 shares, compared to its average volume of 7,864,465. The business has a fifty day moving average price of $166.99 and a 200-day moving average price of $163.10. The stock has a market cap of $398.39 billion, a PE ratio of 27.58, a PEG ratio of 3.70 and a beta of 0.41. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.53 and a current ratio of 0.73. The Procter & Gamble Company has a 1-year low of $141.45 and a 1-year high of $171.72.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.03. The company had revenue of $20.53 billion for the quarter, compared to analyst estimates of $20.69 billion. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.37 earnings per share. On average, equities analysts forecast that The Procter & Gamble Company will post 6.97 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Friday, July 19th will be paid a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Friday, July 19th. Procter & Gamble’s dividend payout ratio (DPR) is currently 65.85%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PG shares. JPMorgan Chase & Co. reduced their price target on Procter & Gamble from $181.00 to $179.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Barclays cut their price objective on Procter & Gamble from $174.00 to $163.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. StockNews.com cut Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Stifel Nicolaus boosted their price objective on Procter & Gamble from $157.00 to $161.00 and gave the company a “hold” rating in a research report on Monday, July 22nd. Finally, Argus boosted their price objective on Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Procter & Gamble currently has an average rating of “Moderate Buy” and a consensus target price of $173.95.

Insiders Place Their Bets

In other Procter & Gamble news, insider Moses Victor Javier Aguilar sold 9,149 shares of Procter & Gamble stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $167.72, for a total value of $1,534,470.28. Following the sale, the insider now owns 12,929 shares in the company, valued at $2,168,451.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Procter & Gamble news, insider Balaji Purushothaman sold 8,842 shares of Procter & Gamble stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $164.90, for a total value of $1,458,045.80. Following the sale, the insider now owns 11,537 shares in the company, valued at $1,902,451.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Moses Victor Javier Aguilar sold 9,149 shares of Procter & Gamble stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $167.72, for a total value of $1,534,470.28. Following the completion of the sale, the insider now owns 12,929 shares in the company, valued at approximately $2,168,451.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 125,462 shares of company stock valued at $21,238,114. Insiders own 0.17% of the company’s stock.

Procter & Gamble Profile

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.