Amundi Reduces Stock Position in Procter & Gamble Company (The) $PG

Amundi cut its stake in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 13.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,160,507 shares of the company's stock after selling 1,376,635 shares during the period. Amundi owned about 0.39% of Procter & Gamble worth $1,323,144,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PG. EverSource Wealth Advisors LLC lifted its position in Procter & Gamble by 80.4% during the first quarter. EverSource Wealth Advisors LLC now owns 18,816 shares of the company's stock valued at $2,718,000 after purchasing an additional 8,386 shares in the last quarter. Talon Private Wealth LLC purchased a new stake in Procter & Gamble in the first quarter worth about $241,000. Core Wealth Advisors Inc. increased its position in Procter & Gamble by 8.5% in the first quarter. Core Wealth Advisors Inc. now owns 2,317 shares of the company's stock worth $335,000 after buying an additional 181 shares in the last quarter. Rokos Capital Management LLP bought a new position in shares of Procter & Gamble in the first quarter worth about $29,914,000. Finally, Eley Financial Management Inc bought a new position in shares of Procter & Gamble in the first quarter worth about $722,000. 65.77% of the stock is owned by institutional investors.

Procter & Gamble Stock Up 0.6%

NYSE PG opened at $149.59 on Wednesday. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.44. Procter & Gamble Company has a 12 month low of $137.62 and a 12 month high of $167.25. The stock's 50 day moving average is $147.63 and its 200 day moving average is $148.90. The stock has a market cap of $348.33 billion, a PE ratio of 21.87, a P/E/G ratio of 7.39 and a beta of 0.39.

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, July 24th will be given a dividend of $1.0885 per share. The ex-dividend date is Friday, July 24th. This represents a $4.35 dividend on an annualized basis and a dividend yield of 2.9%. Procter & Gamble's dividend payout ratio is currently 63.60%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. TD Cowen boosted their price objective on Procter & Gamble from $142.00 to $150.00 and gave the company a "hold" rating in a research note on Monday, April 27th. Weiss Ratings restated a "hold (c)" rating on shares of Procter & Gamble in a research note on Wednesday, June 24th. Sanford C. Bernstein assumed coverage on shares of Procter & Gamble in a report on Thursday, June 11th. They set a "market perform" rating and a $156.00 price target on the stock. Bank of America dropped their price target on shares of Procter & Gamble from $170.00 to $166.00 and set a "buy" rating for the company in a research report on Friday, July 10th. Finally, UBS Group increased their price objective on shares of Procter & Gamble from $166.00 to $172.00 and gave the stock a "buy" rating in a research note on Monday, April 27th. Twelve research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $161.74.

Procter & Gamble Company Profile

Procter & Gamble NYSE: PG is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world's largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.

P&G's product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.

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