Accuvest Global Advisors Invests $738,000 in Procter & Gamble Co (PG)

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Accuvest Global Advisors bought a new position in shares of Procter & Gamble Co (NYSE:PG) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 8,861 shares of the company’s stock, valued at approximately $738,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PG. BlackRock Inc. increased its stake in Procter & Gamble by 2.2% in the second quarter. BlackRock Inc. now owns 166,150,277 shares of the company’s stock valued at $12,969,690,000 after purchasing an additional 3,551,051 shares in the last quarter. Yacktman Asset Management LP increased its stake in Procter & Gamble by 0.7% in the second quarter. Yacktman Asset Management LP now owns 15,488,275 shares of the company’s stock valued at $1,209,015,000 after purchasing an additional 105,318 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in Procter & Gamble by 3.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 14,414,335 shares of the company’s stock valued at $1,125,183,000 after purchasing an additional 474,529 shares in the last quarter. Fisher Asset Management LLC increased its stake in Procter & Gamble by 1.9% in the third quarter. Fisher Asset Management LLC now owns 10,035,519 shares of the company’s stock valued at $835,256,000 after purchasing an additional 191,374 shares in the last quarter. Finally, Swiss National Bank increased its stake in Procter & Gamble by 2.2% in the second quarter. Swiss National Bank now owns 9,427,788 shares of the company’s stock valued at $735,933,000 after purchasing an additional 202,800 shares in the last quarter. 61.36% of the stock is owned by institutional investors and hedge funds.

In other Procter & Gamble news, insider Carolyn M. Tastad sold 700 shares of Procter & Gamble stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $93.30, for a total value of $65,310.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Carolyn M. Tastad sold 19,791 shares of the business’s stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $92.71, for a total transaction of $1,834,823.61. Following the completion of the sale, the insider now directly owns 60,575 shares in the company, valued at approximately $5,615,908.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 156,504 shares of company stock worth $14,943,960. Insiders own 1.84% of the company’s stock.

Procter & Gamble stock opened at $99.24 on Thursday. Procter & Gamble Co has a fifty-two week low of $70.73 and a fifty-two week high of $99.70. The stock has a market cap of $246.33 billion, a P/E ratio of 23.52, a PEG ratio of 3.14 and a beta of 0.38. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.61 and a current ratio of 0.78.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Wednesday, January 23rd. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.04. The business had revenue of $17.44 billion for the quarter, compared to analysts’ expectations of $17.16 billion. Procter & Gamble had a net margin of 16.13% and a return on equity of 21.41%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.19 earnings per share. As a group, research analysts anticipate that Procter & Gamble Co will post 4.46 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Friday, January 18th will be given a $0.7172 dividend. This represents a $2.87 annualized dividend and a yield of 2.89%. The ex-dividend date is Thursday, January 17th. Procter & Gamble’s dividend payout ratio is 68.01%.

A number of research analysts have recently issued reports on PG shares. UBS Group set a $82.00 price objective on shares of Procter & Gamble and gave the company a “hold” rating in a report on Wednesday, October 17th. JPMorgan Chase & Co. upgraded shares of Procter & Gamble from a “neutral” rating to an “overweight” rating and set a $100.00 price objective for the company in a report on Friday, October 19th. Stifel Nicolaus reiterated a “hold” rating and set a $87.00 price objective on shares of Procter & Gamble in a report on Monday, October 22nd. Wells Fargo & Co lifted their price objective on shares of Procter & Gamble from $78.00 to $84.00 and gave the company a “market perform” rating in a report on Monday, October 22nd. They noted that the move was a valuation call. Finally, Citigroup lifted their price objective on shares of Procter & Gamble from $93.00 to $99.00 and gave the company a “buy” rating in a report on Monday, October 22nd. Twelve analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $95.00.

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Procter & Gamble Company 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.

Further Reading: Return On Assets

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

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