Torch Wealth Management LLC cut its stake in shares of Procter & Gamble Company (The) (NYSE:PG) by 2.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 133,323 shares of the company’s stock after selling 3,522 shares during the period. Procter & Gamble Company (The) comprises 8.0% of Torch Wealth Management LLC’s investment portfolio, making the stock its largest position. Torch Wealth Management LLC’s holdings in Procter & Gamble Company (The) were worth $11,619,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in PG. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Procter & Gamble Company (The) during the fourth quarter valued at $609,000. Baltimore Washington Financial Advisors Inc. bought a new stake in Procter & Gamble Company (The) during the fourth quarter valued at $8,515,000. Pekin Singer Strauss Asset Management IL boosted its stake in Procter & Gamble Company (The) by 4.2% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 12,093 shares of the company’s stock valued at $1,017,000 after buying an additional 484 shares during the period. Lincluden Management Ltd. boosted its stake in Procter & Gamble Company (The) by 8.0% in the fourth quarter. Lincluden Management Ltd. now owns 119,056 shares of the company’s stock valued at $10,010,000 after buying an additional 8,822 shares during the period. Finally, Lincoln Capital Corp bought a new stake in Procter & Gamble Company (The) during the fourth quarter valued at $2,842,000. Institutional investors and hedge funds own 59.32% of the company’s stock.

Shares of Procter & Gamble Company (NYSE PG) traded down 0.62% during trading on Wednesday, reaching $91.75. 1,924,131 shares of the company were exchanged. The firm’s 50 day moving average is $90.21 and its 200 day moving average is $89.30. Procter & Gamble Company has a 1-year low of $81.18 and a 1-year high of $92.96. The firm has a market capitalization of $233.96 billion, a P/E ratio of 16.40 and a beta of 0.68.

Procter & Gamble Company (The) (NYSE:PG) last announced its earnings results on Thursday, July 27th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.07. The firm had revenue of $16.08 billion during the quarter, compared to analysts’ expectations of $16.01 billion. Procter & Gamble Company (The) had a return on equity of 19.97% and a net margin of 23.56%. The business’s revenue was down .1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.79 EPS. On average, equities analysts anticipate that Procter & Gamble Company will post $4.17 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Friday, July 21st were given a $0.6896 dividend. The ex-dividend date was Wednesday, July 19th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 2.99%. Procter & Gamble Company (The)’s dividend payout ratio (DPR) is presently 49.37%.

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A number of brokerages have recently commented on PG. BidaskClub upgraded shares of Procter & Gamble Company (The) from a “hold” rating to a “buy” rating in a report on Saturday, August 19th. Jefferies Group LLC restated a “buy” rating and set a $92.44 target price (down previously from $103.00) on shares of Procter & Gamble Company (The) in a report on Thursday, August 17th. Zacks Investment Research cut shares of Procter & Gamble Company (The) from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Sanford C. Bernstein restated an “outperform” rating and set a $100.00 target price (up previously from $98.00) on shares of Procter & Gamble Company (The) in a report on Sunday, July 30th. Finally, Stifel Nicolaus restated a “hold” rating and set a $90.00 target price (up previously from $87.00) on shares of Procter & Gamble Company (The) in a report on Sunday, July 30th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $87.48.

In other Procter & Gamble Company (The) news, SVP Valarie L. Sheppard sold 20,175 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $92.65, for a total transaction of $1,869,213.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Suranjan Magesvaran sold 10,512 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $91.00, for a total value of $956,592.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,792 shares of company stock valued at $4,216,070. Insiders own 0.35% of the company’s stock.

Procter & Gamble Company (The) Company Profile

The Procter & Gamble Company is focused on providing branded consumer packaged goods to the consumers across the world. The Company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care, and Baby, Feminine & Family Care. The Company sells its products in approximately 180 countries and territories primarily through mass merchandisers, grocery stores, membership club stores, drug stores, department stores, distributors, baby stores, specialty beauty stores, e-commerce, high-frequency stores and pharmacies.

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

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