Gamco Investors INC. ET AL Cuts Stock Holdings in Procter & Gamble Co (NYSE:PG)

Gamco Investors INC. ET AL reduced its position in shares of Procter & Gamble Co (NYSE:PG) by 2.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 101,661 shares of the company’s stock after selling 3,050 shares during the period. Gamco Investors INC. ET AL’s holdings in Procter & Gamble were worth $12,645,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PG. Phocas Financial Corp. grew its position in shares of Procter & Gamble by 999,937.0% in the second quarter. Phocas Financial Corp. now owns 71,062,629 shares of the company’s stock valued at $779,000 after purchasing an additional 71,055,523 shares in the last quarter. Nuveen Asset Management LLC grew its position in shares of Procter & Gamble by 6,899.0% in the second quarter. Nuveen Asset Management LLC now owns 18,416,894 shares of the company’s stock valued at $2,019,412,000 after purchasing an additional 18,153,758 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Procter & Gamble by 1.8% in the second quarter. Vanguard Group Inc. now owns 218,459,217 shares of the company’s stock valued at $23,954,054,000 after purchasing an additional 3,786,962 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Procter & Gamble by 49.8% in the second quarter. AQR Capital Management LLC now owns 9,086,135 shares of the company’s stock valued at $996,295,000 after purchasing an additional 3,019,494 shares in the last quarter. Finally, BlackRock Inc. grew its position in shares of Procter & Gamble by 1.5% in the second quarter. BlackRock Inc. now owns 167,930,647 shares of the company’s stock valued at $18,413,594,000 after purchasing an additional 2,470,382 shares in the last quarter. Institutional investors own 65.62% of the company’s stock.

Shares of Procter & Gamble stock opened at $120.32 on Thursday. The firm has a market capitalization of $296.94 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 3.24 and a beta of 0.42. Procter & Gamble Co has a fifty-two week low of $86.74 and a fifty-two week high of $125.77. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.54 and a current ratio of 0.72. The stock has a 50 day moving average of $122.05 and a 200 day moving average of $114.88.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.13. The company had revenue of $17.80 billion during the quarter, compared to analyst estimates of $17.43 billion. Procter & Gamble had a return on equity of 25.07% and a net margin of 6.24%. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.12 earnings per share. Analysts forecast that Procter & Gamble Co will post 4.93 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be given a $0.7459 dividend. The ex-dividend date of this dividend is Thursday, October 17th. This represents a $2.98 annualized dividend and a yield of 2.48%. Procter & Gamble’s payout ratio is 65.93%.

In other Procter & Gamble news, CEO R. Alexandra Keith sold 62,930 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $119.98, for a total transaction of $7,550,341.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Shailesh Jejurikar sold 7,727 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $119.04, for a total value of $919,822.08. Following the transaction, the chief executive officer now owns 2,367 shares in the company, valued at $281,767.68. The disclosure for this sale can be found here. Insiders sold 1,645,966 shares of company stock valued at $202,229,770 over the last quarter. 1.75% of the stock is currently owned by company insiders.

PG has been the subject of a number of analyst reports. Goldman Sachs Group restated a “buy” rating and issued a $136.00 price target on shares of Procter & Gamble in a research report on Wednesday, October 23rd. Stifel Nicolaus set a $117.00 price target on Procter & Gamble and gave the company a “hold” rating in a research report on Wednesday, July 31st. SunTrust Banks upped their price target on Procter & Gamble to $120.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Royal Bank of Canada restated a “neutral” rating and issued a $89.00 price target on shares of Procter & Gamble in a research report on Tuesday, July 30th. Finally, Macquarie upped their price target on Procter & Gamble from $132.00 to $138.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company. Procter & Gamble presently has a consensus rating of “Hold” and an average target price of $115.00.

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.

See Also: Trading on Margin

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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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