Pinnacle Associates Ltd. Purchases 8,510 Shares of The Procter & Gamble Company (NYSE:PG)

Pinnacle Associates Ltd. grew its position in shares of The Procter & Gamble Company (NYSE:PG) by 3.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 233,388 shares of the company’s stock after acquiring an additional 8,510 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Procter & Gamble were worth $40,423,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BKM Wealth Management LLC increased its holdings in shares of Procter & Gamble by 7.1% in the first quarter. BKM Wealth Management LLC now owns 17,248 shares of the company’s stock worth $2,798,000 after buying an additional 1,137 shares during the period. HFG Advisors Inc. increased its stake in shares of Procter & Gamble by 12.5% in the first quarter. HFG Advisors Inc. now owns 18,103 shares of the company’s stock worth $2,937,000 after buying an additional 2,018 shares during the period. Kowal Investment Group LLC boosted its position in Procter & Gamble by 4.5% during the 1st quarter. Kowal Investment Group LLC now owns 15,106 shares of the company’s stock valued at $2,451,000 after buying an additional 646 shares during the period. Miracle Mile Advisors LLC grew its holdings in Procter & Gamble by 5.0% in the 1st quarter. Miracle Mile Advisors LLC now owns 62,312 shares of the company’s stock worth $10,110,000 after acquiring an additional 2,949 shares during the last quarter. Finally, Talbot Financial LLC raised its stake in shares of Procter & Gamble by 1.5% during the first quarter. Talbot Financial LLC now owns 65,600 shares of the company’s stock valued at $10,644,000 after acquiring an additional 950 shares during the last quarter. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PG has been the subject of several research analyst reports. DZ Bank upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Procter & Gamble from $171.00 to $176.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. StockNews.com lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. DA Davidson boosted their price target on shares of Procter & Gamble from $159.00 to $160.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Finally, Hsbc Global Res upgraded Procter & Gamble to a “strong-buy” rating in a report on Friday, October 4th. Nine analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $177.00.

Insider Activity at Procter & Gamble

In other news, CEO Ma. Fatima Francisco sold 96,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $170.00, for a total value of $16,320,000.00. Following the transaction, the chief executive officer now owns 13,721 shares in the company, valued at $2,332,570. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Ma. Fatima Francisco sold 96,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $170.00, for a total value of $16,320,000.00. Following the transaction, the chief executive officer now directly owns 13,721 shares of the company’s stock, valued at approximately $2,332,570. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Susan Street Whaley sold 634 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $108,826.10. Following the sale, the insider now directly owns 19,341 shares of the company’s stock, valued at $3,319,882.65. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 397,986 shares of company stock worth $67,642,430. 0.18% of the stock is owned by insiders.

Procter & Gamble Stock Performance

Shares of Procter & Gamble stock traded down $0.33 during trading on Wednesday, hitting $166.84. 865,233 shares of the company’s stock traded hands, compared to its average volume of 6,632,694. The Procter & Gamble Company has a 1 year low of $142.50 and a 1 year high of $177.94. The business has a 50-day simple moving average of $171.88 and a 200-day simple moving average of $167.87. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55. The stock has a market capitalization of $392.91 billion, a P/E ratio of 28.81, a PEG ratio of 3.64 and a beta of 0.41.

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

Procter & Gamble Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a $1.0065 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.41%. Procter & Gamble’s dividend payout ratio (DPR) is currently 69.48%.

Procter & Gamble 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.