Gateway Advisory LLC Purchases 2,536 Shares of The Procter & Gamble Company (NYSE:PG)

Gateway Advisory LLC raised its position in The Procter & Gamble Company (NYSE:PG) by 33.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,162 shares of the company’s stock after purchasing an additional 2,536 shares during the quarter. Gateway Advisory LLC’s holdings in Procter & Gamble were worth $1,676,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Tremblant Capital Group increased its holdings in Procter & Gamble by 68.9% in the second quarter. Tremblant Capital Group now owns 17,316 shares of the company’s stock valued at $2,856,000 after purchasing an additional 7,064 shares during the period. Xponance Inc. increased its stake in shares of Procter & Gamble by 1.0% in the second quarter. Xponance Inc. now owns 372,529 shares of the company’s stock valued at $61,438,000 after buying an additional 3,582 shares during the period. Bank of Montreal Can raised its position in shares of Procter & Gamble by 9.9% during the second quarter. Bank of Montreal Can now owns 4,424,462 shares of the company’s stock worth $739,770,000 after acquiring an additional 398,585 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in Procter & Gamble by 5.5% in the second quarter. Evergreen Capital Management LLC now owns 32,481 shares of the company’s stock valued at $5,357,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Magnetar Financial LLC bought a new stake in Procter & Gamble in the second quarter valued at approximately $1,428,000. 65.77% of the stock is owned by institutional investors and hedge funds.

Procter & Gamble Price Performance

Procter & Gamble stock opened at $173.77 on Tuesday. The stock has a market cap of $410.12 billion, a P/E ratio of 28.39, a P/E/G ratio of 3.84 and a beta of 0.41. The company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 0.51. The company’s 50 day moving average price is $170.40 and its two-hundred day moving average price is $165.88. The Procter & Gamble Company has a 52 week low of $141.45 and a 52 week high of $177.94.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.03. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The business had revenue of $20.53 billion for the quarter, compared to analysts’ expectations of $20.69 billion. During the same quarter in the previous year, the firm earned $1.37 earnings per share. The business’s revenue was down .1% on a year-over-year basis. On average, equities analysts predict that The Procter & Gamble Company will post 6.97 earnings per share for the current year.

Procter & Gamble Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Friday, July 19th were issued a dividend of $1.0065 per share. The ex-dividend date was Friday, July 19th. This represents a $4.03 dividend on an annualized basis and a yield of 2.32%. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.69%.

Insiders Place Their Bets

In other news, insider Susan Street Whaley sold 450 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total transaction of $76,149.00. Following the completion of the transaction, the insider now directly owns 13,072 shares of the company’s stock, valued at approximately $2,212,043.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Procter & Gamble news, insider Balaji Purushothaman sold 8,842 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the completion of the transaction, the insider now owns 11,537 shares in the company, valued at $1,902,451.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Susan Street Whaley sold 450 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total transaction of $76,149.00. Following the sale, the insider now owns 13,072 shares in the company, valued at $2,212,043.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 375,553 shares of company stock valued at $63,829,141. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

PG has been the subject of several recent analyst reports. TD Cowen assumed coverage on shares of Procter & Gamble in a research report on Tuesday, July 23rd. They set a “buy” rating and a $189.00 price objective for the company. Deutsche Bank Aktiengesellschaft increased their price target on Procter & Gamble from $171.00 to $176.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Royal Bank of Canada boosted their target price on shares of Procter & Gamble from $157.00 to $164.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 31st. Evercore ISI upped their price objective on shares of Procter & Gamble from $177.00 to $183.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Finally, Barclays decreased their target price on Procter & Gamble from $174.00 to $163.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Seven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Procter & Gamble presently has a consensus rating of “Moderate Buy” and an average price target of $176.00.

About Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.