Fred Alger Management LLC Raises Stock Position in The Procter & Gamble Company (NYSE:PG)

Fred Alger Management LLC grew its holdings in The Procter & Gamble Company (NYSE:PG) by 4.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 67,580 shares of the company’s stock after purchasing an additional 3,006 shares during the quarter. Fred Alger Management LLC’s holdings in Procter & Gamble were worth $11,145,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PG. Wescott Financial Advisory Group LLC lifted its holdings in Procter & Gamble by 10.1% during the 2nd quarter. Wescott Financial Advisory Group LLC now owns 23,146 shares of the company’s stock worth $3,817,000 after buying an additional 2,114 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Procter & Gamble by 59.6% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 450,696 shares of the company’s stock worth $74,329,000 after acquiring an additional 168,334 shares during the period. Gateway Advisory LLC raised its stake in shares of Procter & Gamble by 33.3% in the second quarter. Gateway Advisory LLC now owns 10,162 shares of the company’s stock valued at $1,676,000 after acquiring an additional 2,536 shares in the last quarter. Tremblant Capital Group boosted its holdings in Procter & Gamble by 68.9% in the second quarter. Tremblant Capital Group now owns 17,316 shares of the company’s stock valued at $2,856,000 after purchasing an additional 7,064 shares during the period. Finally, Xponance Inc. grew its stake in Procter & Gamble by 1.0% during the 2nd quarter. Xponance Inc. now owns 372,529 shares of the company’s stock worth $61,438,000 after purchasing an additional 3,582 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Price Performance

PG stock opened at $172.30 on Thursday. The business has a 50 day simple moving average of $170.52 and a 200-day simple moving average of $165.97. The company has a market capitalization of $406.65 billion, a P/E ratio of 28.15, a PEG ratio of 3.77 and a beta of 0.41. The Procter & Gamble Company has a twelve month low of $141.45 and a twelve month high of $177.94. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.51.

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

Procter & Gamble Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Friday, July 19th were given a $1.0065 dividend. The ex-dividend date of this dividend was Friday, July 19th. This represents a $4.03 dividend on an annualized basis and a yield of 2.34%. Procter & Gamble’s dividend payout ratio (DPR) is 65.69%.

Analyst Ratings Changes

Several brokerages have recently issued reports on PG. TD Cowen started coverage on Procter & Gamble in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 price objective for the company. Evercore ISI lifted their price target on shares of Procter & Gamble from $177.00 to $183.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Barclays dropped their price objective on shares of Procter & Gamble from $174.00 to $163.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. StockNews.com cut shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Piper Sandler initiated coverage on Procter & Gamble in a report on Tuesday. They issued a “neutral” rating and a $174.00 target price on the stock. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Procter & Gamble currently has an average rating of “Moderate Buy” and an average target price of $175.89.

Insider Buying and Selling at Procter & Gamble

In related news, CEO R. Alexandra Keith sold 3,373 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $170.00, for a total value of $573,410.00. Following the completion of the sale, the chief executive officer now owns 21,513 shares in the company, valued at $3,657,210. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Procter & Gamble news, CEO R. Alexandra Keith sold 3,373 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $170.00, for a total transaction of $573,410.00. Following the sale, the chief executive officer now directly owns 21,513 shares in the company, valued at approximately $3,657,210. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Balaji Purushothaman sold 8,842 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the completion of the transaction, the insider now owns 11,537 shares of the company’s stock, valued at approximately $1,902,451.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 375,553 shares of company stock valued at $63,829,141. 0.17% of the stock is owned by company insiders.

About Procter & Gamble

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.