Advisors Asset Management Inc. significantly increased its stake in Procter & Gamble (NYSE:PG) by 11.5% during the third quarter. This move brought their total holdings in the consumer staples giant to 147,746 shares, valued at approximately $22.7 million. The increased institutional investment follows Procter & Gamble's robust third-quarter earnings report, which saw the company surpass analyst estimates with an impressive EPS of $1.88. Furthermore, P&G announced a quarterly dividend of $1.0568 per share, reinforcing its commitment to shareholder returns. Despite these positive developments, the stock has experienced mixed investor sentiment, partly due to an increase in short interest. This strategic stake increase by Advisors Asset Management underscores a vote of confidence in P&G's financial performance and market position.
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