Procter & Gamble Co (NYSE:PG) Position Lessened by Verity Asset Management Inc.

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Verity Asset Management Inc. decreased its stake in Procter & Gamble Co (NYSE:PG) by 6.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,356 shares of the company’s stock after selling 305 shares during the period. Verity Asset Management Inc.’s holdings in Procter & Gamble were worth $478,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Chemung Canal Trust Co. grew its stake in shares of Procter & Gamble by 17.6% in the 4th quarter. Chemung Canal Trust Co. now owns 128,289 shares of the company’s stock valued at $11,792,000 after purchasing an additional 19,185 shares during the period. Armstrong Henry H Associates Inc. grew its holdings in shares of Procter & Gamble by 0.7% during the 4th quarter. Armstrong Henry H Associates Inc. now owns 471,088 shares of the company’s stock valued at $43,302,000 after purchasing an additional 3,122 shares during the last quarter. First Bank & Trust boosted its position in Procter & Gamble by 3.3% during the 4th quarter. First Bank & Trust now owns 14,990 shares of the company’s stock valued at $1,377,000 after buying an additional 476 shares during the period. Ackerman Capital Advisors LLC purchased a new stake in Procter & Gamble during the 4th quarter valued at $464,000. Finally, Gilman Hill Asset Management LLC boosted its position in Procter & Gamble by 95.3% during the 4th quarter. Gilman Hill Asset Management LLC now owns 9,359 shares of the company’s stock valued at $860,000 after buying an additional 4,568 shares during the period. 62.57% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:PG traded down $0.95 during midday trading on Friday, reaching $120.23. 5,585,421 shares of the company’s stock traded hands, compared to its average volume of 7,365,574. Procter & Gamble Co has a 1 year low of $78.49 and a 1 year high of $122.00. The company has a market cap of $303.27 billion, a P/E ratio of 26.60, a PEG ratio of 3.52 and a beta of 0.45. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.58 and a current ratio of 0.75. The company has a fifty day simple moving average of $116.86 and a two-hundred day simple moving average of $108.04.

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

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were given a dividend of $0.7459 per share. The ex-dividend date was Thursday, July 18th. This represents a $2.98 dividend on an annualized basis and a dividend yield of 2.48%. Procter & Gamble’s dividend payout ratio (DPR) is 65.93%.

PG has been the subject of a number of recent research reports. Goldman Sachs Group raised shares of 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. Credit Suisse Group raised their price objective on shares of Procter & Gamble from $108.00 to $117.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Scotiabank reaffirmed a “buy” rating on shares of Procter & Gamble in a research note on Friday, July 5th. Morgan Stanley set a $129.00 price objective on shares of Procter & Gamble and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Royal Bank of Canada reaffirmed a “neutral” rating and set a $89.00 price objective on shares of Procter & Gamble in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the company’s stock. Procter & Gamble currently has an average rating of “Hold” and an average target price of $108.15.

In other news, VP Valarie L. Sheppard sold 17,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $120.20, for a total transaction of $2,043,400.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Marylynn Fergusonmchugh sold 37,027 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $116.00, for a total value of $4,295,132.00. Following the completion of the transaction, the chief executive officer now owns 112,703 shares in the company, valued at approximately $13,073,548. The disclosure for this sale can be found here. Insiders have sold a total of 448,674 shares of company stock worth $53,197,461 in the last quarter. 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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