Peapack Gladstone Financial Corp Lowers Holdings in The Procter & Gamble Company (NYSE:PG)

Peapack Gladstone Financial Corp reduced its stake in shares of The Procter & Gamble Company (NYSE:PG) by 0.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 304,405 shares of the company’s stock after selling 2,851 shares during the period. Peapack Gladstone Financial Corp’s holdings in Procter & Gamble were worth $52,724,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Synovus Financial Corp boosted its position in shares of Procter & Gamble by 3.4% during the 3rd quarter. Synovus Financial Corp now owns 185,134 shares of the company’s stock worth $32,065,000 after purchasing an additional 6,077 shares in the last quarter. Destination Wealth Management grew its stake in Procter & Gamble by 0.7% in the 3rd quarter. Destination Wealth Management now owns 55,058 shares of the company’s stock valued at $9,536,000 after acquiring an additional 392 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in Procter & Gamble by 505.6% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 645,475 shares of the company’s stock valued at $111,796,000 after acquiring an additional 538,889 shares in the last quarter. Arvest Bank Trust Division acquired a new position in Procter & Gamble during the third quarter worth about $13,103,000. Finally, World Investment Advisors LLC lifted its holdings in shares of Procter & Gamble by 95.3% in the third quarter. World Investment Advisors LLC now owns 38,334 shares of the company’s stock valued at $6,639,000 after purchasing an additional 18,706 shares in the last quarter. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PG shares. Hsbc Global Res raised shares of Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. DZ Bank raised Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price target for the company in a report on Thursday, August 29th. Wells Fargo & Company increased their price objective on Procter & Gamble from $188.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. DA Davidson raised shares of Procter & Gamble from a “neutral” rating to a “buy” rating and boosted their target price for the company from $160.00 to $209.00 in a research note on Monday, November 25th. Finally, Wolfe Research raised shares of Procter & Gamble to a “strong-buy” rating in a research note on Friday, August 23rd. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Procter & Gamble has an average rating of “Moderate Buy” and a consensus target price of $180.45.

Insider Activity at Procter & Gamble

In related news, CEO Jon R. Moeller sold 7,007 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total transaction of $1,202,751.55. Following the completion of the sale, the chief executive officer now directly owns 269,172 shares of the company’s stock, valued at approximately $46,203,373.80. This trade represents a 2.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Balaji Purushothaman sold 12,800 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the sale, the insider now directly owns 11,566 shares of the company’s stock, valued at approximately $1,954,538.34. The trade was a 52.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 83,080 shares of company stock worth $14,629,038. Corporate insiders own 0.18% of the company’s stock.

Procter & Gamble Stock Performance

Procter & Gamble stock opened at $170.86 on Friday. The company has a market cap of $402.38 billion, a price-to-earnings ratio of 29.46, a price-to-earnings-growth ratio of 3.69 and a beta of 0.44. The Procter & Gamble Company has a 12 month low of $142.50 and a 12 month high of $180.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55. The stock’s 50-day moving average is $170.69 and its 200-day moving average is $169.51.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Friday, October 18th. The company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.90 by $0.03. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The firm had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.99 billion. During the same quarter last year, the firm posted $1.83 earnings per share. Procter & Gamble’s revenue for the quarter was down .6% compared to the same quarter last year. Equities analysts anticipate that The Procter & Gamble Company will post 6.94 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were given a dividend of $1.0065 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a yield of 2.36%. Procter & Gamble’s dividend payout ratio (DPR) is 69.48%.

Procter & Gamble Company Profile

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company 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, SK-II, and Native brands.