Bridges Investment Management Inc. Increases Position in The Procter & Gamble Company (NYSE:PG)

Bridges Investment Management Inc. increased its position in The Procter & Gamble Company (NYSE:PG) by 96.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,186 shares of the company’s stock after acquiring an additional 20,679 shares during the period. Bridges Investment Management Inc.’s holdings in Procter & Gamble were worth $6,957,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HighPoint Advisor Group LLC acquired a new stake in shares of Procter & Gamble during the fourth quarter worth about $17,696,000. Bayesian Capital Management LP lifted its stake in Procter & Gamble by 43.0% during the 4th quarter. Bayesian Capital Management LP now owns 52,840 shares of the company’s stock valued at $7,743,000 after acquiring an additional 15,900 shares during the period. Steele Capital Management Inc. purchased a new stake in shares of Procter & Gamble in the 1st quarter valued at $204,000. Gilbert & Cook Inc. increased its stake in shares of Procter & Gamble by 7.7% in the fourth quarter. Gilbert & Cook Inc. now owns 17,215 shares of the company’s stock worth $2,523,000 after acquiring an additional 1,237 shares during the period. Finally, Mosley Wealth Management purchased a new position in shares of Procter & Gamble during the fourth quarter worth $537,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Royal Bank of Canada increased their price target on Procter & Gamble from $157.00 to $164.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 31st. Wolfe Research raised Procter & Gamble to a “strong-buy” rating in a report on Friday, August 23rd. BNP Paribas assumed coverage on Procter & Gamble in a report on Monday, June 24th. They issued an “outperform” rating and a $187.00 price target for the company. DZ Bank raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective on the stock in a research note on Thursday, August 29th. Finally, Evercore ISI boosted their target price on shares of Procter & Gamble from $177.00 to $183.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $176.16.

Insider Activity at Procter & Gamble

In related news, insider Balaji Purushothaman sold 8,842 shares of Procter & Gamble stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $164.90, for a total value 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 at the SEC website. In related news, insider Balaji Purushothaman sold 8,842 shares of Procter & Gamble stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $164.90, for a total value of $1,458,045.80. Following the completion of the transaction, the insider now directly owns 11,537 shares in the company, valued at $1,902,451.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jon R. Moeller sold 72,174 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $171.01, for a total value of $12,342,475.74. Following the transaction, the chief executive officer now directly owns 263,158 shares of the company’s stock, valued at $45,002,649.58. The disclosure for this sale can be found here. Insiders sold 375,553 shares of company stock worth $63,829,141 in the last three months. 0.17% of the stock is owned by company insiders.

Procter & Gamble Stock Performance

NYSE:PG opened at $171.54 on Friday. The firm has a market capitalization of $404.86 billion, a price-to-earnings ratio of 28.03, a PEG ratio of 3.76 and a beta of 0.41. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.53. The company’s 50-day moving average is $170.06 and its two-hundred day moving average is $165.59. The Procter & Gamble Company has a 1-year low of $141.45 and a 1-year high of $177.94.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.03. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The business had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $20.69 billion. During the same period last year, the business earned $1.37 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis. Analysts forecast that The Procter & Gamble Company will post 6.97 EPS for the current year.

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Friday, July 19th were paid a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Friday, July 19th. Procter & Gamble’s payout ratio is 65.85%.

Procter & Gamble Company Profile

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.