Tower Bridge Advisors Sells 523 Shares of The Procter & Gamble Company (NYSE:PG)

Tower Bridge Advisors cut its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 79,513 shares of the company’s stock after selling 523 shares during the period. Procter & Gamble accounts for 1.4% of Tower Bridge Advisors’ holdings, making the stock its 16th biggest holding. Tower Bridge Advisors’ holdings in Procter & Gamble were worth $13,330,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Concurrent Investment Advisors LLC boosted its stake in shares of Procter & Gamble by 4.5% during the third quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock valued at $16,300,000 after purchasing an additional 4,035 shares in the last quarter. Strategic Advisors LLC boosted its stake in shares of Procter & Gamble by 3.4% during the fourth quarter. Strategic Advisors LLC now owns 55,912 shares of the company’s stock valued at $9,374,000 after purchasing an additional 1,818 shares in the last quarter. Copley Financial Group Inc. acquired a new stake in Procter & Gamble in the third quarter valued at approximately $668,000. Fortem Financial Group LLC acquired a new stake in Procter & Gamble in the fourth quarter valued at approximately $569,000. Finally, Richard C. Young & CO. LTD. boosted its stake in Procter & Gamble by 2.1% in the fourth quarter. Richard C. Young & CO. LTD. now owns 123,853 shares of the company’s stock valued at $20,764,000 after acquiring an additional 2,568 shares in the last quarter. 65.77% of the stock is currently owned by institutional investors.

Insider Activity at Procter & Gamble

In related news, CEO Gary A. Coombe sold 18,000 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $171.66, for a total transaction of $3,089,880.00. Following the sale, the chief executive officer now owns 22,051 shares in the company, valued at approximately $3,785,274.66. This trade represents a 44.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Marc S. Pritchard sold 90,450 shares of Procter & Gamble stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the completion of the sale, the insider now owns 172,814 shares in the company, valued at approximately $28,313,845.76. This trade represents a 34.36 % decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on PG. JPMorgan Chase & Co. lowered their target price on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. UBS Group restated a “buy” rating on shares of Procter & Gamble in a research note on Monday, February 10th. Barclays raised their target price on shares of Procter & Gamble from $155.00 to $159.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. Stifel Nicolaus raised their target price on shares of Procter & Gamble from $161.00 to $165.00 and gave the company a “hold” rating in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company raised their target price on shares of Procter & Gamble from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Procter & Gamble has a consensus rating of “Moderate Buy” and a consensus target price of $180.42.

Procter & Gamble Trading Up 1.1 %

Shares of Procter & Gamble stock opened at $173.84 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55. The firm has a fifty day moving average price of $166.29 and a 200 day moving average price of $169.54. The Procter & Gamble Company has a 1 year low of $153.52 and a 1 year high of $180.43. The stock has a market cap of $407.63 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 3.76 and a beta of 0.45.

Procter & Gamble (NYSE:PG) last issued its earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.02. The firm had revenue of $21.88 billion during the quarter, compared to analysts’ expectations of $21.66 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.84 earnings per share. Equities research analysts predict that The Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 24th were given a dividend of $1.0065 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $4.03 annualized dividend and a yield of 2.32%. Procter & Gamble’s dividend payout ratio is presently 64.01%.

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.