Bank of Nova Scotia Trims Holdings in The Procter & Gamble Company (NYSE:PG)

Bank of Nova Scotia decreased its stake in shares of The Procter & Gamble Company (NYSE:PGGet Rating) by 8.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 972,576 shares of the company’s stock after selling 88,595 shares during the quarter. Bank of Nova Scotia’s holdings in Procter & Gamble were worth $148,610,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PG. BlackRock Inc. raised its position in Procter & Gamble by 1.2% in the fourth quarter. BlackRock Inc. now owns 156,813,285 shares of the company’s stock valued at $25,651,517,000 after purchasing an additional 1,785,863 shares during the period. State Street Corp raised its position in Procter & Gamble by 1.7% in the fourth quarter. State Street Corp now owns 105,458,164 shares of the company’s stock valued at $17,250,846,000 after purchasing an additional 1,716,517 shares during the period. Geode Capital Management LLC raised its position in Procter & Gamble by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 43,444,122 shares of the company’s stock valued at $7,090,497,000 after purchasing an additional 972,826 shares during the period. Norges Bank purchased a new stake in Procter & Gamble in the fourth quarter valued at $3,726,603,000. Finally, Charles Schwab Investment Management Inc. raised its position in Procter & Gamble by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,710,055 shares of the company’s stock valued at $2,569,850,000 after purchasing an additional 293,092 shares during the period. Hedge funds and other institutional investors own 63.64% of the company’s stock.

Procter & Gamble Stock Up 0.1 %

Shares of NYSE:PG traded up $0.21 on Tuesday, hitting $145.48. 78,224 shares of the company’s stock were exchanged, compared to its average volume of 7,033,719. The firm’s 50-day moving average is $142.83 and its 200 day moving average is $150.78. The company has a market capitalization of $349.05 billion, a PE ratio of 25.00, a P/E/G ratio of 4.00 and a beta of 0.36. The Procter & Gamble Company has a 1-year low of $129.50 and a 1-year high of $165.35. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.45 and a current ratio of 0.65.

Procter & Gamble (NYSE:PGGet Rating) last posted its earnings results on Friday, July 29th. The company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.02). Procter & Gamble had a net margin of 18.39% and a return on equity of 32.52%. The firm had revenue of $19.52 billion during the quarter, compared to analysts’ expectations of $19.41 billion. During the same period in the previous year, the firm posted $1.13 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. Sell-side analysts predict that The Procter & Gamble Company will post 5.94 EPS for the current year.

Procter & Gamble Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 22nd will be paid a dividend of $0.913 per share. This represents a $3.65 annualized dividend and a yield of 2.51%. The ex-dividend date is Thursday, July 21st. Procter & Gamble’s dividend payout ratio is presently 62.82%.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, CEO Ma. Fatima Francisco sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $146.00, for a total transaction of $584,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,026 shares of the company’s stock, valued at approximately $149,796. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Procter & Gamble news, CEO Sundar G. Raman sold 1,599 shares of the business’s stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $145.12, for a total transaction of $232,046.88. Following the transaction, the chief executive officer now owns 4,002 shares in the company, valued at approximately $580,770.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ma. Fatima Francisco sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $146.00, for a total value of $584,000.00. Following the transaction, the chief executive officer now owns 1,026 shares in the company, valued at approximately $149,796. The disclosure for this sale can be found here. Insiders sold a total of 7,599 shares of company stock valued at $1,106,047 in the last ninety days. Insiders own 0.51% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Evercore ISI set a $170.00 target price on Procter & Gamble in a research report on Monday, June 20th. Wells Fargo & Company dropped their price objective on Procter & Gamble from $170.00 to $160.00 in a research note on Friday, July 22nd. Credit Suisse Group lifted their price objective on Procter & Gamble from $140.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, April 21st. Raymond James lifted their price objective on Procter & Gamble from $175.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, April 21st. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Procter & Gamble from $171.00 to $157.00 and set a “buy” rating for the company in a research note on Tuesday, June 21st. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Procter & Gamble has an average rating of “Moderate Buy” and an average price target of $162.93.

About Procter & Gamble

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The Procter & Gamble Company provides branded consumer packaged goods to consumers in North and Latin America, Europe, the Asia Pacific, Greater China, India, the Middle East, and Africa. It 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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