Tocqueville Asset Management L.P. Sells 9,646 Shares of Procter & Gamble Company (The) (NYSE:PG)

Key Points

• Tocqueville Asset Management L.P. has reduced its stake in Procter & Gamble by 2.7%, selling 9,646 shares and now holding 341,438 shares valued at $58 million.
• Procter & Gamble reported a quarterly earnings per share of $1.48, exceeding analyst expectations, with a revenue increase of 1.7% year-over-year.
• The current consensus rating for Procter & Gamble stock is a "Moderate Buy", with analysts predicting a price target of approximately $175.94.

Tocqueville Asset Management L.P. lowered its position in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 2.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 341,438 shares of the company's stock after selling 9,646 shares during the quarter. Procter & Gamble comprises 0.9% of Tocqueville Asset Management L.P.'s investment portfolio, making the stock its 21st biggest holding. Tocqueville Asset Management L.P.'s holdings in Procter & Gamble were worth $58,188,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of PG. Cladis Investment Advisory LLC raised its holdings in shares of Procter & Gamble by 5.2% during the fourth quarter. Cladis Investment Advisory LLC now owns 4,807 shares of the company's stock valued at $806,000 after purchasing an additional 236 shares during the period. FAS Wealth Partners Inc. raised its holdings in shares of Procter & Gamble by 2.0% during the fourth quarter. FAS Wealth Partners Inc. now owns 27,690 shares of the company's stock valued at $4,642,000 after purchasing an additional 549 shares during the period. Benjamin Edwards Inc. raised its holdings in shares of Procter & Gamble by 120.7% during the first quarter. Benjamin Edwards Inc. now owns 364,378 shares of the company's stock valued at $62,098,000 after purchasing an additional 199,258 shares during the period. Capital Investment Advisory Services LLC raised its holdings in shares of Procter & Gamble by 13.8% in the 1st quarter. Capital Investment Advisory Services LLC now owns 37,709 shares of the company's stock worth $6,426,000 after acquiring an additional 4,562 shares during the last quarter. Finally, World Investment Advisors raised its holdings in shares of Procter & Gamble by 6.0% in the 1st quarter. World Investment Advisors now owns 50,913 shares of the company's stock worth $8,677,000 after acquiring an additional 2,886 shares during the last quarter. Institutional investors own 65.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada upgraded shares of Procter & Gamble from a "sector perform" rating to an "outperform" rating and upped their target price for the stock from $164.00 to $177.00 in a report on Friday, April 25th. Redburn Partners set a $161.00 target price on shares of Procter & Gamble in a report on Thursday, May 1st. Piper Sandler upped their target price on shares of Procter & Gamble from $160.00 to $164.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Wells Fargo & Company lowered their target price on shares of Procter & Gamble from $175.00 to $173.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Finally, Raymond James Financial lowered their target price on shares of Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $175.94.

Procter & Gamble Stock Up 0.4%

Procter & Gamble stock opened at $154.30 on Friday. Procter & Gamble Company has a twelve month low of $149.91 and a twelve month high of $180.43. The firm has a 50 day moving average price of $157.19 and a 200-day moving average price of $163.29. The company has a market capitalization of $361.43 billion, a P/E ratio of 23.70, a P/E/G ratio of 4.06 and a beta of 0.37. The company has a quick ratio of 0.49, a current ratio of 0.70 and a debt-to-equity ratio of 0.49.

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, beating analysts' consensus estimates of $1.42 by $0.06. Procter & Gamble had a net margin of 18.95% and a return on equity of 32.69%. The firm had revenue of $20.89 billion during the quarter, compared to the consensus estimate of $20.79 billion. During the same period in the prior year, the firm earned $1.40 EPS. The company's revenue was up 1.7% compared to the same quarter last year. As a group, equities analysts predict that Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 18th were issued a $1.0568 dividend. The ex-dividend date of this dividend was Friday, July 18th. This represents a $4.23 annualized dividend and a yield of 2.7%. Procter & Gamble's dividend payout ratio (DPR) is 64.98%.

About Procter & Gamble

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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