Cambridge Investment Research Advisors Inc. Boosts Stake in The Procter & Gamble Company (NYSE:PG)

Cambridge Investment Research Advisors Inc. raised its holdings in shares of The Procter & Gamble Company (NYSE:PGGet Rating) by 0.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 598,584 shares of the company’s stock after buying an additional 4,696 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Procter & Gamble were worth $86,070,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PG. Vanguard Group Inc. lifted its stake in Procter & Gamble by 1.1% during the first quarter. Vanguard Group Inc. now owns 217,519,281 shares of the company’s stock worth $33,236,946,000 after purchasing an additional 2,394,234 shares during the last quarter. BlackRock Inc. lifted its stake in Procter & Gamble by 1.2% during the fourth quarter. BlackRock Inc. now owns 156,813,285 shares of the company’s stock worth $25,651,517,000 after purchasing an additional 1,785,863 shares during the last quarter. State Street Corp lifted its stake in Procter & Gamble by 1.7% during the fourth quarter. State Street Corp now owns 105,458,164 shares of the company’s stock worth $17,250,846,000 after purchasing an additional 1,716,517 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Procter & Gamble by 4.3% during the first quarter. Bank of New York Mellon Corp now owns 23,740,255 shares of the company’s stock worth $3,627,510,000 after purchasing an additional 983,197 shares during the last quarter. Finally, Norges Bank bought a new stake in Procter & Gamble during the fourth quarter worth about $3,726,603,000. 63.45% of the stock is currently owned by hedge funds and other institutional investors.

Procter & Gamble Trading Up 0.4 %

PG opened at $136.21 on Friday. The business has a 50 day simple moving average of $142.58 and a two-hundred day simple moving average of $147.19. The firm has a market capitalization of $324.93 billion, a price-to-earnings ratio of 23.44, a PEG ratio of 3.53 and a beta of 0.35. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.65 and a quick ratio of 0.45. The Procter & Gamble Company has a one year low of $129.50 and a one year high of $165.35.

Procter & Gamble (NYSE:PGGet Rating) last released its quarterly earnings results on Friday, July 29th. The company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). Procter & Gamble had a net margin of 18.39% and a return on equity of 32.67%. The business had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $19.41 billion. During the same period in the previous year, the company earned $1.13 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. Analysts predict that The Procter & Gamble Company will post 5.94 EPS for the current year.

Procter & Gamble Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Friday, July 22nd were issued a dividend of $0.913 per share. The ex-dividend date of this dividend was Thursday, July 21st. This represents a $3.65 dividend on an annualized basis and a dividend yield of 2.68%. Procter & Gamble’s dividend payout ratio (DPR) is 62.82%.

Analyst Upgrades and Downgrades

PG has been the subject of a number of recent research reports. Wells Fargo & Company lowered their target price on Procter & Gamble from $170.00 to $160.00 in a research note on Friday, July 22nd. Deutsche Bank Aktiengesellschaft lowered their target price on Procter & Gamble from $171.00 to $157.00 and set a “buy” rating for the company in a research note on Tuesday, June 21st. Truist Financial lowered their target price on Procter & Gamble from $175.00 to $160.00 and set a “buy” rating for the company in a research note on Monday, August 1st. UBS Group lowered their target price on Procter & Gamble to $153.00 in a research note on Friday, July 22nd. Finally, Evercore ISI set a $170.00 target price on Procter & Gamble in a research note on Monday, June 20th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Procter & Gamble presently has an average rating of “Moderate Buy” and a consensus target price of $162.93.

Insiders Place Their Bets

In other Procter & Gamble news, insider Susan Street Whaley sold 907 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $149.33, for a total transaction of $135,442.31. Following the transaction, the insider now owns 6,253 shares in the company, valued at approximately $933,760.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Jon R. Moeller sold 169,365 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $146.56, for a total value of $24,822,134.40. Following the sale, the chief executive officer now owns 164,761 shares in the company, valued at approximately $24,147,372.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Susan Street Whaley sold 907 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $149.33, for a total value of $135,442.31. Following the completion of the sale, the insider now owns 6,253 shares in the company, valued at approximately $933,760.49. The disclosure for this sale can be found here. In the last quarter, insiders have sold 289,321 shares of company stock worth $42,559,426. Company insiders own 0.26% of the company’s stock.

Procter & Gamble Company Profile

(Get Rating)

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.

Further Reading

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

Receive News & Ratings for Procter & Gamble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Procter & Gamble and related companies with MarketBeat.com's FREE daily email newsletter.