Fred Alger Management LLC Lowers Holdings in The Procter & Gamble Company (NYSE:PG)

Fred Alger Management LLC trimmed its position in shares of The Procter & Gamble Company (NYSE:PG) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 66,745 shares of the company’s stock after selling 835 shares during the quarter. Fred Alger Management LLC’s holdings in Procter & Gamble were worth $11,560,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PG. Concurrent Investment Advisors LLC raised its holdings in Procter & Gamble by 4.5% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock worth $16,300,000 after acquiring an additional 4,035 shares during the last quarter. Radnor Capital Management LLC purchased a new position in shares of Procter & Gamble in the third quarter worth $5,705,000. Welch Group LLC boosted its position in shares of Procter & Gamble by 0.9% during the third quarter. Welch Group LLC now owns 323,870 shares of the company’s stock valued at $56,094,000 after buying an additional 2,990 shares during the last quarter. Swiss National Bank increased its holdings in Procter & Gamble by 0.6% in the 3rd quarter. Swiss National Bank now owns 7,005,790 shares of the company’s stock worth $1,213,403,000 after buying an additional 39,000 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Procter & Gamble by 67.2% in the 2nd quarter. GAMMA Investing LLC now owns 26,803 shares of the company’s stock worth $4,420,000 after buying an additional 10,777 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors.

Procter & Gamble Trading Up 0.0 %

Shares of PG stock opened at $179.37 on Friday. The stock has a fifty day simple moving average of $170.48 and a two-hundred day simple moving average of $169.07. The Procter & Gamble Company has a 52-week low of $142.50 and a 52-week high of $180.43. The firm has a market capitalization of $422.42 billion, a PE ratio of 30.93, a PEG ratio of 3.86 and a beta of 0.42. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75.

Procter & Gamble (NYSE:PG) last issued its earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The company had revenue of $21.74 billion for the quarter, compared to the consensus estimate of $21.99 billion. During the same quarter last year, the company earned $1.83 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. On average, analysts predict that The Procter & Gamble Company will post 6.97 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were paid a dividend of $1.0065 per share. The ex-dividend date was Friday, October 18th. This represents a $4.03 annualized dividend and a yield of 2.24%. Procter & Gamble’s payout ratio is 69.31%.

Insiders Place Their Bets

In other news, insider Balaji Purushothaman sold 12,800 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the sale, the insider now directly owns 11,566 shares of the company’s stock, valued at $1,954,538.34. This represents a 52.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO R. Alexandra Keith sold 1,992 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $170.00, for a total transaction of $338,640.00. Following the completion of the transaction, 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 12.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,233 shares of company stock worth $6,024,234 in the last 90 days. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PG has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on shares of Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a research report on Monday, October 21st. Barclays cut Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price target on the stock. in a report on Monday, September 30th. Evercore ISI lifted their price objective on Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Finally, DA Davidson raised Procter & Gamble from a “neutral” rating to a “buy” rating and increased their target price for the company from $160.00 to $209.00 in a report on Monday, November 25th. Eight investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $180.45.

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.