Fred Alger Management LLC Sells 835 Shares of The Procter & Gamble Company (NYSE:PG)

Fred Alger Management LLC trimmed its position in The Procter & Gamble Company (NYSE:PG) by 1.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,745 shares of the company’s stock after selling 835 shares during the period. Fred Alger Management LLC’s holdings in Procter & Gamble were worth $11,560,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new position in Procter & Gamble in the 2nd quarter worth about $28,000. Fairway Wealth LLC purchased a new position in shares of Procter & Gamble during the second quarter worth about $29,000. RPg Family Wealth Advisory LLC bought a new position in shares of Procter & Gamble in the third quarter worth approximately $33,000. POM Investment Strategies LLC purchased a new stake in Procter & Gamble in the second quarter valued at approximately $34,000. Finally, Quest Partners LLC bought a new stake in Procter & Gamble during the second quarter valued at approximately $36,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Procter & Gamble Trading Up 0.0 %

NYSE PG opened at $179.37 on Friday. The stock has a market cap of $422.42 billion, a P/E ratio of 30.93, a price-to-earnings-growth ratio of 3.86 and a beta of 0.42. The Procter & Gamble Company has a fifty-two week low of $142.50 and a fifty-two week high of $180.43. The stock has a 50 day simple moving average of $170.48 and a two-hundred day simple moving average of $169.07. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Friday, October 18th. The company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.03. The company had revenue of $21.74 billion during the quarter, compared to analyst estimates of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The firm’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $1.83 earnings per share. On average, analysts forecast that The Procter & Gamble Company will post 6.97 earnings per share for the current year.

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were paid a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend was Friday, October 18th. Procter & Gamble’s payout ratio is currently 69.31%.

Insiders Place Their Bets

In other Procter & Gamble news, insider Susan Street Whaley sold 634 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total value of $108,826.10. Following the completion of the transaction, the insider now owns 19,341 shares in the company, valued at approximately $3,319,882.65. This represents a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Balaji Purushothaman sold 12,800 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the sale, the insider now owns 11,566 shares in the company, valued at approximately $1,954,538.34. This trade represents a 52.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,233 shares of company stock worth $6,024,234 over the last three months. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PG shares. Wells Fargo & Company raised their price objective on shares of Procter & Gamble from $188.00 to $190.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. DZ Bank raised Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price target for the company in a research note on Thursday, August 29th. DA Davidson upgraded Procter & Gamble from a “neutral” rating to a “buy” rating and increased their price objective for the company from $160.00 to $209.00 in a research report on Monday, November 25th. Evercore ISI boosted their target price on Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $164.00 price target on shares of Procter & Gamble in a research report on Monday, October 21st. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $180.45.

Procter & Gamble Company Profile

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, SK-II, and Native brands.