Tower Bridge Advisors Grows Stock Position in The Procter & Gamble Company (NYSE:PG)

Tower Bridge Advisors raised its stake in shares of The Procter & Gamble Company (NYSE:PG) by 3.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 88,169 shares of the company’s stock after buying an additional 2,935 shares during the period. Tower Bridge Advisors’ holdings in The Procter & Gamble were worth $11,941,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PG. OLD Mission Capital LLC purchased a new position in shares of The Procter & Gamble during the 3rd quarter valued at about $349,000. Sage Mountain Advisors LLC purchased a new position in shares of The Procter & Gamble in the 4th quarter valued at about $407,000. Mattern Capital Management LLC increased its stake in shares of The Procter & Gamble by 0.4% in the 4th quarter. Mattern Capital Management LLC now owns 34,502 shares of the company’s stock valued at $4,801,000 after purchasing an additional 154 shares in the last quarter. Almanack Investment Partners LLC. increased its stake in shares of The Procter & Gamble by 9.6% in the 4th quarter. Almanack Investment Partners LLC. now owns 5,644 shares of the company’s stock valued at $785,000 after purchasing an additional 493 shares in the last quarter. Finally, West Chester Capital Advisors Inc. purchased a new position in shares of The Procter & Gamble in the 4th quarter valued at about $369,000. Institutional investors and hedge funds own 62.97% of the company’s stock.

PG has been the subject of several recent analyst reports. Citigroup lowered The Procter & Gamble from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 21st. Deutsche Bank Aktiengesellschaft cut their price objective on The Procter & Gamble from $159.00 to $158.00 and set a “buy” rating for the company in a research note on Wednesday, April 21st. JPMorgan Chase & Co. cut their price objective on The Procter & Gamble from $153.00 to $148.00 and set an “overweight” rating for the company in a research note on Friday, April 16th. Morgan Stanley cut their price objective on The Procter & Gamble from $165.00 to $155.00 and set an “overweight” rating for the company in a research note on Monday, April 19th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reiterated a “neutral” rating and set a $150.00 price objective (down from $165.00) on shares of The Procter & Gamble in a research note on Tuesday, April 27th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $148.93.

PG traded down $1.39 during trading hours on Friday, reaching $134.40. The company’s stock had a trading volume of 376,292 shares, compared to its average volume of 8,559,963. The company has a current ratio of 0.71, a quick ratio of 0.52 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average of $135.69. The Procter & Gamble Company has a fifty-two week low of $113.76 and a fifty-two week high of $146.92. The stock has a market cap of $329.04 billion, a PE ratio of 25.01, a PEG ratio of 3.50 and a beta of 0.43.

The Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Monday, April 19th. The company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.07. The Procter & Gamble had a return on equity of 31.71% and a net margin of 18.97%. The company had revenue of $18.10 billion for the quarter, compared to analysts’ expectations of $18 billion. During the same period in the prior year, the firm earned $1.17 earnings per share. The firm’s revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Procter & Gamble Company will post 5.62 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, May 17th. Shareholders of record on Friday, April 23rd were paid a dividend of $0.8698 per share. This represents a $3.48 dividend on an annualized basis and a yield of 2.59%. This is a boost from The Procter & Gamble’s previous quarterly dividend of $0.79. The ex-dividend date was Thursday, April 22nd. The Procter & Gamble’s dividend payout ratio is 67.97%.

In other news, insider Carolyn M. Tastad sold 3,000 shares of the company’s stock in a transaction on Wednesday, May 26th. The stock was sold at an average price of $138.20, for a total transaction of $414,600.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO David S. Taylor sold 56,202 shares of the company’s stock in a transaction on Thursday, May 20th. The stock was sold at an average price of $138.50, for a total value of $7,783,977.00. The disclosure for this sale can be found here. Insiders have sold 2,219,280 shares of company stock worth $299,094,832 over the last 90 days. 0.70% of the stock is owned by insiders.

About The Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods to consumers in North and Latin America, Europe, the Asia Pacific, Greater China, India, the Middle East, and Africa. It operates in five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care.

See Also: Dow Jones Industrial Average (DJIA)

Want to see what other hedge funds are holding PG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Procter & Gamble Company (NYSE:PG).

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

Receive News & Ratings for The Procter & Gamble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Procter & Gamble and related companies with MarketBeat.com's FREE daily email newsletter.