Veritable L.P. Grows Stock Position in Procter & Gamble Co (NYSE:PG)

Veritable L.P. raised its holdings in Procter & Gamble Co (NYSE:PG) by 0.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 440,427 shares of the company’s stock after buying an additional 2,510 shares during the quarter. Procter & Gamble comprises 1.0% of Veritable L.P.’s holdings, making the stock its 19th largest position. Veritable L.P.’s holdings in Procter & Gamble were worth $48,293,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PG. Camarda Financial Advisors LLC raised its stake in shares of Procter & Gamble by 59.2% in the second quarter. Camarda Financial Advisors LLC now owns 269 shares of the company’s stock worth $29,000 after purchasing an additional 100 shares during the last quarter. Dougherty Wealth Advisers LLC raised its position in Procter & Gamble by 250.0% during the second quarter. Dougherty Wealth Advisers LLC now owns 350 shares of the company’s stock valued at $38,000 after acquiring an additional 250 shares in the last quarter. SeaBridge Investment Advisors LLC purchased a new position in Procter & Gamble during the fourth quarter valued at approximately $36,000. Smart Portfolios LLC raised its position in Procter & Gamble by 48.0% during the fourth quarter. Smart Portfolios LLC now owns 450 shares of the company’s stock valued at $41,000 after acquiring an additional 146 shares in the last quarter. Finally, Financial Management Professionals Inc. raised its position in Procter & Gamble by 71.5% during the second quarter. Financial Management Professionals Inc. now owns 463 shares of the company’s stock valued at $51,000 after acquiring an additional 193 shares in the last quarter. Institutional investors own 65.83% of the company’s stock.

In related news, VP Valarie L. Sheppard sold 1,259 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $120.36, for a total value of $151,533.24. Following the sale, the vice president now owns 26,094 shares in the company, valued at approximately $3,140,673.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO R. Alexandra Keith sold 62,930 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $119.98, for a total value of $7,550,341.40. The disclosure for this sale can be found here. Insiders sold 448,674 shares of company stock worth $53,197,461 in the last 90 days. Company insiders own 1.75% of the company’s stock.

Several brokerages recently weighed in on PG. Deutsche Bank lifted their price target on Procter & Gamble from $106.00 to $109.00 and gave the company a “hold” rating in a research report on Monday, June 17th. Goldman Sachs Group upgraded Procter & Gamble from a “neutral” rating to a “buy” rating and lifted their price target for the company from $114.00 to $125.00 in a research report on Thursday, June 27th. TheStreet lowered Procter & Gamble from an “a-” rating to a “c+” rating in a report on Tuesday, July 30th. UBS Group set a $122.00 price objective on Procter & Gamble and gave the company a “hold” rating in a report on Wednesday, July 31st. Finally, Credit Suisse Group raised their price objective on Procter & Gamble from $108.00 to $117.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. One 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’s stock. Procter & Gamble presently has a consensus rating of “Hold” and an average target price of $108.15.

Procter & Gamble stock traded up $1.54 during trading on Wednesday, reaching $122.90. 3,377,658 shares of the company were exchanged, compared to its average volume of 6,403,885. Procter & Gamble Co has a 52-week low of $78.49 and a 52-week high of $122.00. The company has a market capitalization of $300.89 billion, a P/E ratio of 27.19, a PEG ratio of 3.49 and a beta of 0.42. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.75 and a quick ratio of 0.58. The stock’s 50 day simple moving average is $117.30 and its two-hundred day simple moving average is $108.48.

Procter & Gamble (NYSE:PG) last posted its earnings results on Tuesday, July 30th. The company reported $1.10 EPS for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.04. Procter & Gamble had a return on equity of 23.03% and a net margin of 5.76%. The company had revenue of $17.09 billion for the quarter, compared to the consensus estimate of $16.86 billion. During the same quarter in the previous year, the business earned $0.94 earnings per share. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, equities analysts forecast that Procter & Gamble Co will post 4.84 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were given a $0.7459 dividend. The ex-dividend date was Thursday, July 18th. This represents a $2.98 dividend on an annualized basis and a yield of 2.43%. Procter & Gamble’s dividend payout ratio is currently 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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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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