Procter & Gamble Sees Increased Valuation by Institutional Investors in Q2
Procter & Gamble Company (The) (NYSE:PG - Free Report), a multinational consumer goods company, has seen its stock valued by several institutional investors during the second quarter. According to its latest filing with the Securities and Exchange Commission (SEC), Occidental Asset Management LLC acquired 8,350 shares of Procter & Gamble's stock for approximately $1,224,000.
This is not an isolated instance; other hedge funds also increased or reduced their stakes in the company during this period. Brighton Jones LLC boosted its position by 51.5% and now owns 40,068 shares worth $6,717,000. Similarly, Sivia Capital Partners LLC purchased additional shares to increase its stake by 19.8%, owning 6,144 shares valued at $979,000.
Procter & Gamble's recent earnings report exceeded analyst estimates, with a net margin of 18.44% and return on equity of 31.36%. The company declared a quarterly dividend of $1.0885 per share on August 17th, representing an annualized yield of 3.0%. As of July 24th, the firm's market capitalization stood at $336.51 billion.
Thirteen investment analysts have rated Procter & Gamble with a Buy rating and eleven with a Hold rating. The average target price for the stock is $161.52. With a Moderate Buy rating among analysts, top-rated analysts recommend these five stocks instead: BTC, Semiconductors, Cloud Computing, Enterprise Software, Infrastructure, Cybersecurity, and Automation.