Pinnacle Associates Ltd. Has $22.68 Million Stake in Procter & Gamble Co (NYSE:PG)

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Pinnacle Associates Ltd. lowered its stake in shares of Procter & Gamble Co (NYSE:PG) by 1.7% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 206,793 shares of the company’s stock after selling 3,671 shares during the period. Pinnacle Associates Ltd.’s holdings in Procter & Gamble were worth $22,675,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. 180 Wealth Advisors LLC lifted its position in shares of Procter & Gamble by 37.5% during the 2nd quarter. 180 Wealth Advisors LLC now owns 17,906 shares of the company’s stock worth $2,090,000 after buying an additional 4,887 shares in the last quarter. GWM Advisors LLC lifted its position in shares of Procter & Gamble by 4.5% during the 2nd quarter. GWM Advisors LLC now owns 37,414 shares of the company’s stock worth $4,102,000 after buying an additional 1,612 shares in the last quarter. Cedar Capital LLC lifted its position in shares of Procter & Gamble by 8.6% during the 2nd quarter. Cedar Capital LLC now owns 14,577 shares of the company’s stock worth $1,598,000 after buying an additional 1,150 shares in the last quarter. Meeder Asset Management Inc. lifted its position in shares of Procter & Gamble by 104.8% during the 2nd quarter. Meeder Asset Management Inc. now owns 66,182 shares of the company’s stock worth $7,257,000 after buying an additional 33,872 shares in the last quarter. Finally, AKO Capital LLP lifted its position in shares of Procter & Gamble by 9.3% during the 2nd quarter. AKO Capital LLP now owns 1,319,947 shares of the company’s stock worth $144,732,000 after buying an additional 112,063 shares in the last quarter. Institutional investors and hedge funds own 62.57% of the company’s stock.

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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Valarie L. Sheppard sold 17,000 shares of Procter & Gamble stock in a transaction that occurred on Wednesday, July 31st. The shares were 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. Insiders sold a total of 429,026 shares of company stock valued at $50,867,990 over the last quarter. 1.84% of the stock is owned by company insiders.

Several equities analysts have commented on the stock. Stifel Nicolaus set a $117.00 target price on shares of Procter & Gamble and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Scotiabank reissued a “buy” rating on shares of Procter & Gamble in a research report on Friday, July 5th. Credit Suisse Group lifted their price target on shares of Procter & Gamble from $108.00 to $117.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Deutsche Bank lifted their price target on shares of Procter & Gamble from $106.00 to $109.00 and gave the stock a “hold” rating in a report on Monday, June 17th. Finally, SunTrust Banks lifted their price target on shares of Procter & Gamble to $120.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company. Procter & Gamble presently has a consensus rating of “Hold” and an average target price of $108.15.

NYSE:PG opened at $119.42 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.58 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $297.52 billion, a PE ratio of 26.42, a price-to-earnings-growth ratio of 3.45 and a beta of 0.45. The firm’s 50 day moving average is $115.91 and its 200 day moving average is $107.18. Procter & Gamble Co has a 12 month low of $78.49 and a 12 month high of $121.76.

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

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Friday, July 19th were paid a $0.7459 dividend. The ex-dividend date of this dividend was Thursday, July 18th. This represents a $2.98 dividend on an annualized basis and a yield of 2.50%. Procter & Gamble’s dividend payout ratio is 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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