Bridges Investment Management Inc. decreased its stake in Procter & Gamble Co (NYSE:PG) by 0.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,939 shares of the company’s stock after selling 510 shares during the period. Bridges Investment Management Inc.’s holdings in Procter & Gamble were worth $7,888,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in PG. Private Wealth Advisors Inc. lifted its position in shares of Procter & Gamble by 0.4% in the second quarter. Private Wealth Advisors Inc. now owns 25,399 shares of the company’s stock worth $2,785,000 after buying an additional 112 shares during the last quarter. Miracle Mile Advisors LLC lifted its position in shares of Procter & Gamble by 1.8% in the second quarter. Miracle Mile Advisors LLC now owns 6,501 shares of the company’s stock worth $713,000 after buying an additional 114 shares during the last quarter. Gratus Capital LLC lifted its position in shares of Procter & Gamble by 1.8% during the 2nd quarter. Gratus Capital LLC now owns 31,998 shares of the company’s stock worth $3,509,000 after purchasing an additional 554 shares during the last quarter. Copperwynd Financial LLC lifted its position in shares of Procter & Gamble by 3.0% during the 2nd quarter. Copperwynd Financial LLC now owns 15,018 shares of the company’s stock worth $1,647,000 after purchasing an additional 431 shares during the last quarter. Finally, Alera Investment Advisors LLC lifted its position in shares of Procter & Gamble by 28.0% during the 2nd quarter. Alera Investment Advisors LLC now owns 2,244 shares of the company’s stock worth $246,000 after purchasing an additional 491 shares during the last quarter. 65.83% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently weighed in on PG. UBS Group set a $122.00 price objective on Procter & Gamble and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Credit Suisse Group boosted their price target on Procter & Gamble from $108.00 to $117.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Royal Bank of Canada restated a “neutral” rating and set a $89.00 price target on shares of Procter & Gamble in a research note on Tuesday, July 30th. Scotiabank restated a “buy” rating on shares of Procter & Gamble in a research note on Friday, July 5th. Finally, Wells Fargo & Co restated a “buy” rating and set a $135.00 price target (up from $125.00) on shares of Procter & Gamble in a research note on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $108.15.
In related news, Vice Chairman Jon R. Moeller sold 141,575 shares of Procter & Gamble stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $118.05, for a total value of $16,712,928.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Valarie L. Sheppard sold 17,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $120.20, for a total transaction of $2,043,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 448,674 shares of company stock valued at $53,197,461. 1.75% of the stock is owned by company insiders.
Shares of NYSE PG traded down $0.34 during mid-day trading on Friday, hitting $122.43. The company had a trading volume of 34,712 shares, compared to its average volume of 6,182,078. Procter & Gamble Co has a one year low of $78.49 and a one year high of $123.43. The company has a market capitalization of $304.85 billion, a PE ratio of 27.10, a price-to-earnings-growth ratio of 3.48 and a beta of 0.42. The firm has a 50-day simple moving average of $118.41 and a two-hundred day simple moving average of $109.40. The company has a current ratio of 0.75, a quick ratio of 0.58 and a debt-to-equity ratio of 0.44.
Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.04. The firm had revenue of $17.09 billion during the quarter, compared to the consensus estimate of $16.86 billion. Procter & Gamble had a net margin of 5.76% and a return on equity of 23.03%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the business posted $0.94 earnings per share. Sell-side analysts expect that Procter & Gamble Co will post 4.84 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were given a dividend of $0.7459 per share. The ex-dividend date of this dividend was Thursday, July 18th. This represents a $2.98 annualized dividend and a yield of 2.44%. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.93%.
Procter & Gamble Profile
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.
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