Procter & Gamble Company (The) $PG Stock Holdings Trimmed by Fred Alger Management LLC

Key Points

• Fred Alger Management LLC has reduced its stake in Procter & Gamble by 32.3%, now holding 35,918 shares worth approximately $6.12 million.
• Institutional investors now own 65.77% of Procter & Gamble, with several hedge funds increasing their stakes in the company during the first quarter.
• The company recently announced a quarterly dividend of $1.0568 per share, with an annualized yield of 2.7%.

Fred Alger Management LLC reduced its stake in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 32.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,918 shares of the company's stock after selling 17,160 shares during the period. Fred Alger Management LLC's holdings in Procter & Gamble were worth $6,121,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Benjamin Edwards Inc. boosted its stake in Procter & Gamble by 120.7% in the first quarter. Benjamin Edwards Inc. now owns 364,378 shares of the company's stock valued at $62,098,000 after acquiring an additional 199,258 shares during the period. Capital Investment Advisory Services LLC boosted its stake in Procter & Gamble by 13.8% in the first quarter. Capital Investment Advisory Services LLC now owns 37,709 shares of the company's stock valued at $6,426,000 after acquiring an additional 4,562 shares during the period. World Investment Advisors boosted its stake in Procter & Gamble by 6.0% in the first quarter. World Investment Advisors now owns 50,913 shares of the company's stock valued at $8,677,000 after acquiring an additional 2,886 shares during the period. Concurrent Investment Advisors LLC boosted its stake in Procter & Gamble by 26.4% in the first quarter. Concurrent Investment Advisors LLC now owns 120,002 shares of the company's stock valued at $20,451,000 after acquiring an additional 25,059 shares during the period. Finally, Kelly Financial Services LLC boosted its stake in Procter & Gamble by 8.7% in the first quarter. Kelly Financial Services LLC now owns 1,727 shares of the company's stock valued at $294,000 after acquiring an additional 138 shares during the period. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wells Fargo & Company reduced their price objective on Procter & Gamble from $175.00 to $173.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. UBS Group set a $180.00 price objective on Procter & Gamble and gave the stock a "buy" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $170.00 price objective (down from $178.00) on shares of Procter & Gamble in a research report on Friday, July 25th. Evercore ISI reiterated an "in-line" rating and set a $170.00 price objective (down from $190.00) on shares of Procter & Gamble in a research report on Monday, July 14th. Finally, BNP Paribas reiterated an "outperform" rating and set a $177.00 price objective on shares of Procter & Gamble in a research report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, Procter & Gamble has a consensus rating of "Moderate Buy" and an average target price of $175.12.

Insider Transactions at Procter & Gamble

In other Procter & Gamble news, CEO Gary A. Coombe sold 10,194 shares of the company's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $158.16, for a total value of $1,612,283.04. Following the transaction, the chief executive officer owned 34,978 shares of the company's stock, valued at approximately $5,532,120.48. This represents a 22.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jennifer L. Davis sold 8,596 shares of the company's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $157.27, for a total value of $1,351,892.92. Following the completion of the transaction, the chief executive officer directly owned 64,991 shares in the company, valued at $10,221,134.57. This represents a 11.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 120,181 shares of company stock valued at $18,918,012 over the last three months. 0.18% of the stock is owned by company insiders.

Procter & Gamble Stock Performance

PG opened at $159.12 on Tuesday. The company has a market capitalization of $372.42 billion, a price-to-earnings ratio of 24.44, a price-to-earnings-growth ratio of 4.22 and a beta of 0.36. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.70 and a quick ratio of 0.49. Procter & Gamble Company has a 1-year low of $149.91 and a 1-year high of $180.43. The business has a 50 day moving average price of $156.41 and a two-hundred day moving average price of $162.14.

Procter & Gamble (NYSE:PG - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.06. The firm had revenue of $20.89 billion during the quarter, compared to the consensus estimate of $20.79 billion. Procter & Gamble had a return on equity of 32.69% and a net margin of 18.95%.The firm's revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.40 earnings per share. Procter & Gamble has set its FY 2026 guidance at 6.830-7.090 EPS. Research analysts predict that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 18th were given a $1.0568 dividend. This represents a $4.23 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Friday, July 18th. Procter & Gamble's dividend payout ratio is 64.82%.

Procter & Gamble Company Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.

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