Trustcore Financial Services LLC Cuts Stock Position in Procter & Gamble Co (NYSE:PG)

Trustcore Financial Services LLC trimmed its stake in shares of Procter & Gamble Co (NYSE:PG) by 1.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,075 shares of the company’s stock after selling 298 shares during the period. Trustcore Financial Services LLC’s holdings in Procter & Gamble were worth $2,161,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Morgan Stanley increased its position in shares of Procter & Gamble by 54.8% during the first quarter. Morgan Stanley now owns 20,883,111 shares of the company’s stock worth $2,297,142,000 after purchasing an additional 7,392,929 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Procter & Gamble by 72.2% during the first quarter. Janus Henderson Group PLC now owns 10,768,053 shares of the company’s stock worth $1,184,519,000 after buying an additional 4,515,204 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Procter & Gamble by 66.4% in the first quarter. Franklin Resources Inc. now owns 10,508,172 shares of the company’s stock valued at $1,155,899,000 after buying an additional 4,191,966 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Procter & Gamble by 10.2% in the first quarter. Wellington Management Group LLP now owns 28,092,901 shares of the company’s stock worth $3,090,220,000 after buying an additional 2,609,549 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in Procter & Gamble by 20.0% during the first quarter. Alliancebernstein L.P. now owns 12,781,490 shares of the company’s stock worth $1,405,964,000 after acquiring an additional 2,133,631 shares during the last quarter. Institutional investors and hedge funds own 63.33% of the company’s stock.

In other Procter & Gamble news, CFO Jon R. Moeller sold 130,626 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $116.37, for a total value of $15,200,947.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nelson Peltz sold 404,714 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $113.01, for a total value of $45,736,729.14. Following the sale, the director now directly owns 3,891 shares in the company, valued at approximately $439,721.91. The disclosure for this sale can be found here. Insiders have sold a total of 1,570,603 shares of company stock valued at $179,504,390 over the last 90 days. 1.75% of the stock is currently owned by company insiders.

A number of research firms have commented on PG. Citigroup increased their price objective on shares of Procter & Gamble from $143.00 to $146.00 and gave the company a “buy” rating in a report on Monday, April 20th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $120.00 price target on shares of Procter & Gamble in a report on Tuesday, April 14th. TheStreet upgraded Procter & Gamble from a “c+” rating to a “b” rating in a research report on Tuesday, April 14th. Stifel Nicolaus upped their target price on Procter & Gamble from $117.00 to $129.00 and gave the company a “buy” rating in a report on Monday, April 20th. Finally, Morgan Stanley raised their target price on Procter & Gamble from $134.00 to $144.00 and gave the stock an “overweight” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $133.67.

NYSE PG opened at $131.12 on Friday. Procter & Gamble Co has a 12 month low of $94.34 and a 12 month high of $132.03. The stock has a market capitalization of $325.35 billion, a P/E ratio of 25.67, a PEG ratio of 3.44 and a beta of 0.42. The firm’s 50-day moving average is $121.39 and its two-hundred day moving average is $119.14. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.85 and a quick ratio of 0.66.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.15. Procter & Gamble had a net margin of 18.36% and a return on equity of 29.38%. The firm had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $16.97 billion. During the same quarter last year, the company posted $1.10 EPS. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, analysts anticipate that Procter & Gamble Co will post 5.3 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, July 24th will be paid a dividend of $0.7907 per share. This represents a $3.16 annualized dividend and a yield of 2.41%. The ex-dividend date is Thursday, July 23rd. Procter & Gamble’s payout ratio is 61.72%.

About Procter & Gamble

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.

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

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