Altium Invests Heavily in Procter & Gamble, Doubles Down on Dividend Play
Altium Investment Strategies LLC has acquired a new position in shares of Procter & Gamble Company (The) (NYSE:PG), according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 100,702 shares valued at approximately $14.8 million.
Procter & Gamble comprises 21.3% of Altium Investment Strategies LLC's portfolio, making it the company's second-largest holding. This is not an isolated instance, as several other institutional investors have also made changes to their positions in Procter & Gamble recently.
Cibc World Market Inc. boosted its position by 40.6% in the fourth quarter and now owns 511,833 shares valued at $73.3 million. World Investment Advisors increased its holdings by 15.9% during the same period, owning 105,915 shares worth $15.2 million.
Procter & Gamble's stock has been affected by various factors, including inflation and gasoline prices. Despite this, the company continues to attract income-oriented investors as a Dividend King, supported by more than six decades of dividend increases.