The Procter & Gamble Company (NYSE:PG) Shares Sold by Beese Fulmer Investment Management Inc.

Beese Fulmer Investment Management Inc. lessened its holdings in The Procter & Gamble Company (NYSE:PG) by 0.7% in the second quarter, HoldingsChannel.com reports. The firm owned 118,075 shares of the company’s stock after selling 796 shares during the period. Procter & Gamble accounts for approximately 1.9% of Beese Fulmer Investment Management Inc.’s investment portfolio, making the stock its 7th biggest holding. Beese Fulmer Investment Management Inc.’s holdings in Procter & Gamble were worth $17,917,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Brandywine Managers LLC bought a new stake in Procter & Gamble in the first quarter valued at $22,326,000. BSW Wealth Partners raised its stake in shares of Procter & Gamble by 0.5% during the first quarter. BSW Wealth Partners now owns 27,813 shares of the company’s stock valued at $4,136,000 after purchasing an additional 132 shares in the last quarter. Ballentine Partners LLC raised its stake in shares of Procter & Gamble by 12.5% during the first quarter. Ballentine Partners LLC now owns 46,655 shares of the company’s stock valued at $6,937,000 after purchasing an additional 5,202 shares in the last quarter. Advisor Partners II LLC raised its stake in shares of Procter & Gamble by 2.7% during the first quarter. Advisor Partners II LLC now owns 114,256 shares of the company’s stock valued at $16,987,000 after purchasing an additional 3,037 shares in the last quarter. Finally, Lineweaver Wealth Advisors LLC raised its stake in shares of Procter & Gamble by 7.3% during the first quarter. Lineweaver Wealth Advisors LLC now owns 27,831 shares of the company’s stock valued at $4,139,000 after purchasing an additional 1,899 shares in the last quarter. Institutional investors and hedge funds own 63.43% of the company’s stock.

Insider Activity

In other news, CFO Andre Schulten sold 806 shares of Procter & Gamble stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $152.85, for a total transaction of $123,197.10. Following the completion of the sale, the chief financial officer now directly owns 28,373 shares in the company, valued at approximately $4,336,813.05. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Balaji Purushothaman sold 12,629 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $157.19, for a total value of $1,985,152.51. Following the completion of the sale, the insider now directly owns 13,051 shares in the company, valued at approximately $2,051,486.69. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Andre Schulten sold 806 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $152.85, for a total value of $123,197.10. Following the completion of the sale, the chief financial officer now owns 28,373 shares of the company’s stock, valued at $4,336,813.05. The disclosure for this sale can be found here. Insiders sold a total of 106,607 shares of company stock worth $16,523,793 in the last three months. 0.17% of the stock is owned by insiders.

Procter & Gamble Trading Up 0.4 %

NYSE:PG opened at $154.05 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.63 and a quick ratio of 0.44. The Procter & Gamble Company has a fifty-two week low of $122.18 and a fifty-two week high of $158.38. The stock’s 50-day moving average is $153.35 and its two-hundred day moving average is $150.37. The stock has a market cap of $363.14 billion, a PE ratio of 26.11, a price-to-earnings-growth ratio of 3.50 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last released its earnings results on Friday, July 28th. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.05. Procter & Gamble had a return on equity of 32.88% and a net margin of 17.87%. The company had revenue of $20.60 billion for the quarter, compared to analysts’ expectations of $20.01 billion. During the same quarter in the previous year, the business posted $1.21 EPS. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, equities research analysts forecast that The Procter & Gamble Company will post 6.38 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Friday, July 21st were issued a dividend of $0.9407 per share. The ex-dividend date was Thursday, July 20th. This represents a $3.76 annualized dividend and a dividend yield of 2.44%. Procter & Gamble’s dividend payout ratio is 63.73%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PG shares. Bank of America lifted their price objective on shares of Procter & Gamble from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, August 1st. William Blair started coverage on shares of Procter & Gamble in a research note on Friday, September 8th. They set a “market perform” rating on the stock. They noted that the move was a valuation call. Morgan Stanley reaffirmed an “overweight” rating and set a $174.00 target price on shares of Procter & Gamble in a report on Tuesday, August 1st. Stifel Nicolaus lifted their target price on Procter & Gamble from $155.00 to $161.00 in a report on Monday, July 31st. Finally, JPMorgan Chase & Co. lifted their target price on Procter & Gamble from $164.00 to $172.00 in a report on Friday, July 28th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $164.82.

Procter & Gamble Company 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.