Eastern Bank Lowers stake in Procter & Gamble Co (PG)

Procter & Gamble Co (PG) : Eastern Bank reduced its stake in Procter & Gamble Co by 0.4% during the most recent quarter end. The investment management company now holds a total of 239,011 shares of Procter & Gamble Co which is valued at $21,135,743 after selling 968 shares in Procter & Gamble Co , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.Procter & Gamble Co makes up approximately 1.72% of Eastern Bank’s portfolio.

Other Hedge Funds, Including , Blb&b Advisors boosted its stake in PG in the latest quarter, The investment management firm added 1,063 additional shares and now holds a total of 140,234 shares of Procter & Gamble Co which is valued at $12,400,893. Procter & Gamble Co makes up approx 2.31% of Blb&b Advisors’s portfolio.Howland Capital Management reduced its stake in PG by selling 1,126 shares or 0.68% in the most recent quarter. The Hedge Fund company now holds 164,556 shares of PG which is valued at $14,520,421. Procter & Gamble Co makes up approx 1.38% of Howland Capital Management’s portfolio.At Bancorp reduced its stake in PG by selling 971 shares or 2.87% in the most recent quarter. The Hedge Fund company now holds 32,909 shares of PG which is valued at $2,903,890. Procter & Gamble Co makes up approx 0.41% of At Bancorp’s portfolio.Jacobs Coca reduced its stake in PG by selling 545 shares or 0.86% in the most recent quarter. The Hedge Fund company now holds 62,978 shares of PG which is valued at $5,608,821. Procter & Gamble Co makes up approx 1.26% of Jacobs Coca’s portfolio. E&g Advisors Lp added PG to its portfolio by purchasing 10,700 company shares during the most recent quarter which is valued at $952,942. Procter & Gamble Co makes up approx 0.56% of E&g Advisors Lp’s portfolio.

Procter & Gamble Co opened for trading at $88.5 and hit $88.96 on the upside on Friday, eventually ending the session at $88.43, with a gain of 0.22% or 0.19 points. The heightened volatility saw the trading volume jump to 73,68,968 shares. Company has a market cap of $235,998 M.

On the company’s financial health, Procter & Gamble Co reported $0.79 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.74. The company had revenue of $16102.00 million for the quarter, compared to analysts expectations of $15831.63 million. The company’s revenue was down -2.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.00 EPS.

Many Wall Street Analysts have commented on Procter & Gamble Co. Procter & Gamble Co was Upgraded by Argus to ” Buy” on Oct 12, 2016. Company shares were Upgraded by B. Riley & Co. on Aug 15, 2016 to ” Buy”, Firm has raised the Price Target to $ 105 from a previous price target of $74 .Company shares were Reiterated by Stifel on Jul 22, 2016 to “Buy”, Firm has raised the Price Target to $ 92 from a previous price target of $85 .

The Procter & Gamble Company (P&G) provides consumer packaged goods. The Company operates in five segments under GBUs: Beauty which offers a range of products ranging from deodorants to cosmetics to skin care; Grooming which includes blades razors and electronic hair removal devices such as electric razors and epilators; Health Care which includes oral care and personal health care products.; Fabric Care and Home Care which consists of a range of fabric care products home care products and batteries and Baby Feminine and Family Care which offers diapers pants baby wipe Bounty paper towel and Charmin toilet paper brands. The Company’s products are sold in over 180 countries and territories. P&G’s customers include mass merchandisers grocery stores membership club stores drug stores department stores salons distributors e-commerce and stores.

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