Harmony Asset Management LLC Has $396,000 Holdings in The Procter & Gamble Company (NYSE:PG)

Harmony Asset Management LLC raised its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 23.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,402 shares of the company’s stock after acquiring an additional 464 shares during the quarter. Harmony Asset Management LLC’s holdings in Procter & Gamble were worth $396,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in PG. Itau Unibanco Holding S.A. purchased a new stake in Procter & Gamble in the 2nd quarter worth approximately $28,000. Fairway Wealth LLC purchased a new stake in shares of Procter & Gamble during the second quarter worth $29,000. Transcendent Capital Group LLC acquired a new stake in Procter & Gamble during the fourth quarter valued at $31,000. Ruedi Wealth Management Inc. grew its stake in Procter & Gamble by 64.7% in the first quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock valued at $32,000 after purchasing an additional 77 shares in the last quarter. Finally, POM Investment Strategies LLC acquired a new position in Procter & Gamble in the 2nd quarter worth about $34,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

Procter & Gamble Stock Up 1.6 %

Shares of PG opened at $174.22 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.53 and a current ratio of 0.73. The company has a 50-day simple moving average of $170.21 and a 200-day simple moving average of $165.78. The Procter & Gamble Company has a 52 week low of $141.45 and a 52 week high of $177.94. The firm has a market capitalization of $411.18 billion, a P/E ratio of 28.47, a P/E/G ratio of 3.84 and a beta of 0.41.

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

Procter & Gamble Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were paid a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Friday, July 19th. Procter & Gamble’s dividend payout ratio is 65.69%.

Wall Street Analyst Weigh In

PG has been the subject of several recent research reports. Dbs Bank cut Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Wolfe Research upgraded shares of Procter & Gamble to a “strong-buy” rating in a research note on Friday, August 23rd. DZ Bank upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft raised their target price on Procter & Gamble from $171.00 to $176.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Finally, TD Cowen started coverage on Procter & Gamble in a research note on Tuesday, July 23rd. They set a “buy” rating and a $189.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Procter & Gamble has an average rating of “Moderate Buy” and a consensus target price of $176.00.

Insider Transactions at Procter & Gamble

In related news, insider Balaji Purushothaman sold 8,842 shares of the stock in a transaction dated 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 of the company’s stock, valued at $1,902,451.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Procter & Gamble news, insider Balaji Purushothaman sold 8,842 shares of the company’s 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 sale, the insider now directly 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 accessible through this hyperlink. Also, CEO Jon R. Moeller sold 37,240 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $168.89, for a total value of $6,289,463.60. Following the transaction, the chief executive officer now owns 263,537 shares of the company’s stock, valued at $44,508,763.93. The disclosure for this sale can be found here. In the last three months, insiders sold 375,553 shares of company stock valued at $63,829,141. Company insiders own 0.17% of the company’s stock.

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.