Western Wealth Management LLC lifted its stake in The Procter & Gamble Company (NYSE:PG – Get Rating) by 11.9% during the third quarter, Holdings Channel reports. The institutional investor owned 40,799 shares of the company's stock after acquiring an additional 4,347 shares during the quarter. Western Wealth Management LLC's holdings in Procter & Gamble were worth $5,189,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. Galvin Gaustad & Stein LLC boosted its position in Procter & Gamble by 0.5% during the second quarter. Galvin Gaustad & Stein LLC now owns 77,252 shares of the company's stock worth $11,108,000 after purchasing an additional 373 shares in the last quarter. Altium Wealth Management LLC boosted its holdings in Procter & Gamble by 14.3% in the second quarter. Altium Wealth Management LLC now owns 48,463 shares of the company's stock valued at $6,969,000 after purchasing an additional 6,053 shares during the period. Hall Capital Management Co. Inc. boosted its holdings in Procter & Gamble by 4.1% in the second quarter. Hall Capital Management Co. Inc. now owns 15,931 shares of the company's stock valued at $2,291,000 after purchasing an additional 630 shares during the period. TruWealth Advisors LLC lifted its holdings in Procter & Gamble by 17.6% during the 2nd quarter. TruWealth Advisors LLC now owns 4,480 shares of the company's stock worth $644,000 after buying an additional 670 shares during the last quarter. Finally, Financial Planning & Information Services Inc. lifted its holdings in Procter & Gamble by 2.8% during the 2nd quarter. Financial Planning & Information Services Inc. now owns 29,400 shares of the company's stock worth $4,227,000 after buying an additional 809 shares during the last quarter. Hedge funds and other institutional investors own 62.13% of the company's stock.
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Procter & Gamble Stock Up 0.1 %
Procter & Gamble stock opened at $141.92 on Thursday. The company has a market capitalization of $334.81 billion, a P/E ratio of 24.86, a P/E/G ratio of 3.95 and a beta of 0.42. The Procter & Gamble Company has a 1-year low of $122.18 and a 1-year high of $164.98. The company has a current ratio of 0.56, a quick ratio of 0.37 and a debt-to-equity ratio of 0.47. The firm's fifty day simple moving average is $149.14 and its 200-day simple moving average is $141.99.
Procter & Gamble (NYSE:PG – Get Rating) last issued its earnings results on Thursday, January 19th. The company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.01. The business had revenue of $20.77 billion for the quarter, compared to analyst estimates of $20.75 billion. Procter & Gamble had a net
margin of 17.79% and a return on equity of 32.03%. The firm's revenue was down .9% on a year-over-year basis. During the same period in the previous year, the business earned $1.66 EPS. Sell-side analysts forecast that The Procter & Gamble Company will post 5.84 earnings per share for the current fiscal year.
Procter & Gamble Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Friday, January 20th will be paid a $0.9133 dividend. This represents a $3.65 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend is Thursday, January 19th. Procter & Gamble's payout ratio is presently 64.04%.
Analyst Ratings Changes
PG has been the topic of a number of research analyst reports. Jefferies Financial Group lifted their target price on Procter & Gamble from $149.00 to $164.00 in a research report on Tuesday, November 22nd. StockNews.com lowered Procter & Gamble from a "buy" rating to a "hold" rating in a report on Friday, January 20th. Barclays decreased their price target on Procter & Gamble from $161.00 to $158.00 and set an "overweight" rating on the stock in a research note on Monday. Deutsche Bank Aktiengesellschaft upped their target price on Procter & Gamble from $156.00 to $162.00 and gave the company a "buy" rating in a research note on Tuesday, December 6th. Finally, Credit Suisse Group reduced their target price on Procter & Gamble from $140.00 to $130.00 and set a "neutral" rating on the stock in a research note on Tuesday, November 15th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $153.00.
Insider Activity
In other Procter & Gamble news, CEO Sundar G. Raman sold 9,922 shares of the company's stock in a transaction on Monday, November 21st. The shares were sold at an average price of $145.00, for a total transaction of $1,438,690.00. Following the sale, the chief executive officer now directly owns 12,312 shares of the company's stock, valued at $1,785,240. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Sundar G. Raman sold 14,922 shares of Procter & Gamble stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $139.60, for a total transaction of $2,083,111.20. Following the sale, the chief executive officer now directly owns 12,310 shares in the company, valued at approximately $1,718,476. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar G. Raman sold 9,922 shares of the firm's stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $145.00, for a total transaction of $1,438,690.00. Following the transaction, the chief executive officer now owns 12,312 shares of the company's stock, valued at approximately $1,785,240. The disclosure for this sale can be found here. Insiders sold 58,812 shares of company stock worth $8,190,363 over the last quarter. 0.26% of the stock is currently owned by company insiders.
About Procter & Gamble
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Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.
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