Torch Wealth Management LLC Lowers Stake in Procter & Gamble Co (PG)

Torch Wealth Management LLC trimmed its position in shares of Procter & Gamble Co (NYSE:PG) by 2.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 111,950 shares of the company’s stock after selling 2,697 shares during the quarter. Procter & Gamble accounts for 5.5% of Torch Wealth Management LLC’s investment portfolio, making the stock its 2nd largest holding. Torch Wealth Management LLC’s holdings in Procter & Gamble were worth $8,739,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. BlackRock Inc. grew its holdings in Procter & Gamble by 1.9% during the first quarter. BlackRock Inc. now owns 162,599,226 shares of the company’s stock worth $12,890,867,000 after buying an additional 2,961,408 shares in the last quarter. Yacktman Asset Management LP grew its holdings in Procter & Gamble by 1.4% during the first quarter. Yacktman Asset Management LP now owns 15,382,957 shares of the company’s stock worth $1,219,561,000 after buying an additional 219,593 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Procter & Gamble by 8.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 13,939,806 shares of the company’s stock worth $1,105,148,000 after buying an additional 1,089,316 shares in the last quarter. American Century Companies Inc. grew its holdings in Procter & Gamble by 17.9% during the first quarter. American Century Companies Inc. now owns 13,922,673 shares of the company’s stock worth $1,103,790,000 after buying an additional 2,115,777 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in Procter & Gamble by 63.1% during the first quarter. Franklin Resources Inc. now owns 11,150,063 shares of the company’s stock worth $883,964,000 after buying an additional 4,315,180 shares in the last quarter. 58.36% of the stock is currently owned by institutional investors.

Shares of NYSE:PG opened at $79.06 on Friday. The firm has a market capitalization of $209.82 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 2.68 and a beta of 0.59. The company has a quick ratio of 0.66, a current ratio of 0.83 and a debt-to-equity ratio of 0.40. Procter & Gamble Co has a 1 year low of $70.73 and a 1 year high of $93.51.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Tuesday, July 31st. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.04. The firm had revenue of $16.50 billion during the quarter, compared to the consensus estimate of $16.52 billion. Procter & Gamble had a return on equity of 20.94% and a net margin of 14.59%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 EPS. On average, equities analysts forecast that Procter & Gamble Co will post 4.42 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Friday, October 19th will be paid a $0.7172 dividend. The ex-dividend date is Thursday, October 18th. This represents a $2.87 dividend on an annualized basis and a yield of 3.63%. Procter & Gamble’s dividend payout ratio (DPR) is presently 68.01%.

Several equities research analysts recently issued reports on PG shares. Atlantic Securities started coverage on Procter & Gamble in a report on Thursday, September 20th. They set an “overweight” rating and a $94.00 price target for the company. Jefferies Financial Group downgraded Procter & Gamble from a “buy” rating to a “hold” rating and set a $95.00 price target for the company. in a report on Monday, July 9th. Deutsche Bank upped their price target on Procter & Gamble from $84.00 to $85.00 and gave the stock a “hold” rating in a report on Thursday, August 16th. Zacks Investment Research downgraded Procter & Gamble from a “hold” rating to a “sell” rating in a report on Monday, June 25th. Finally, Morgan Stanley upped their price target on Procter & Gamble from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Wednesday, August 1st. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Procter & Gamble has a consensus rating of “Hold” and a consensus target price of $84.53.

In other Procter & Gamble news, insider Kathleen B. Fish sold 10,342 shares of the company’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $83.20, for a total value of $860,454.40. Following the completion of the transaction, the insider now owns 16,382 shares in the company, valued at approximately $1,362,982.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman David S. Taylor sold 21,029 shares of the stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $83.52, for a total value of $1,756,342.08. The disclosure for this sale can be found here. Insiders sold a total of 147,186 shares of company stock valued at $12,080,849 in the last 90 days. Corporate insiders own 1.84% of the company’s stock.

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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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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