QRG Capital Management Inc. Trims Stock Position in The Procter & Gamble Company (NYSE:PG)

QRG Capital Management Inc. decreased its position in The Procter & Gamble Company (NYSE:PG) by 7.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 414,295 shares of the company’s stock after selling 33,233 shares during the period. Procter & Gamble accounts for 0.8% of QRG Capital Management Inc.’s holdings, making the stock its 19th largest position. QRG Capital Management Inc.’s holdings in Procter & Gamble were worth $71,756,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new position in Procter & Gamble in the second quarter valued at about $28,000. Fairway Wealth LLC purchased a new stake in shares of Procter & Gamble in the 2nd quarter valued at approximately $29,000. Ruedi Wealth Management Inc. lifted its holdings in shares of Procter & Gamble by 64.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock worth $32,000 after acquiring an additional 77 shares during the last quarter. POM Investment Strategies LLC purchased a new position in shares of Procter & Gamble during the 2nd quarter worth approximately $34,000. Finally, Quest Partners LLC acquired a new stake in Procter & Gamble in the 2nd quarter valued at approximately $36,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Dbs Bank downgraded Procter & Gamble from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. Wolfe Research upgraded shares of Procter & Gamble to a “strong-buy” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. raised their price objective on shares of Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. StockNews.com cut shares of Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, DZ Bank upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Procter & Gamble presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.00.

Procter & Gamble Stock Performance

Shares of Procter & Gamble stock opened at $166.06 on Monday. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a 52 week low of $142.50 and a 52 week high of $177.94. The firm’s 50 day moving average is $171.62 and its two-hundred day moving average is $168.07. The firm has a market capitalization of $391.08 billion, a P/E ratio of 28.47, a P/E/G ratio of 3.57 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last posted its earnings results on Friday, October 18th. The company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The firm had revenue of $21.74 billion for the quarter, compared to the consensus estimate of $21.99 billion. During the same period last year, the firm posted $1.83 EPS. The company’s revenue was down .6% on a year-over-year basis. Research analysts forecast that The Procter & Gamble Company will post 6.94 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be given a $1.0065 dividend. The ex-dividend date is Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.42%. Procter & Gamble’s dividend payout ratio (DPR) is presently 69.48%.

Insider Buying and Selling

In other news, insider Balaji Purushothaman sold 12,800 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the transaction, the insider now directly owns 11,566 shares in the company, valued at approximately $1,954,538.34. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Procter & Gamble news, CEO R. Alexandra Keith sold 1,992 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $170.00, for a total transaction of $338,640.00. Following the completion of the sale, the chief executive officer now directly owns 13,783 shares of the company’s stock, valued at approximately $2,343,110. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Balaji Purushothaman sold 12,800 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total value of $2,163,072.00. Following the completion of the transaction, the insider now directly owns 11,566 shares in the company, valued at approximately $1,954,538.34. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 385,771 shares of company stock worth $65,610,975 in the last quarter. 0.18% of the stock is owned by insiders.

Procter & Gamble Company Profile

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company 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, SK-II, and Native brands.