Wealthquest Corp Trims Position in The Procter & Gamble Company (NYSE:PG)

Wealthquest Corp decreased its stake in shares of The Procter & Gamble Company (NYSE:PG) by 0.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 180,450 shares of the company’s stock after selling 543 shares during the period. Procter & Gamble comprises about 3.8% of Wealthquest Corp’s investment portfolio, making the stock its 10th biggest holding. Wealthquest Corp’s holdings in Procter & Gamble were worth $29,760,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Alera Investment Advisors LLC lifted its stake in shares of Procter & Gamble by 1.2% in the first quarter. Alera Investment Advisors LLC now owns 5,007 shares of the company’s stock valued at $812,000 after buying an additional 60 shares during the period. Hudson Value Partners LLC raised its holdings in Procter & Gamble by 4.1% in the 2nd quarter. Hudson Value Partners LLC now owns 1,516 shares of the company’s stock valued at $250,000 after acquiring an additional 60 shares in the last quarter. Fiduciary Alliance LLC lifted its position in shares of Procter & Gamble by 2.8% in the 2nd quarter. Fiduciary Alliance LLC now owns 2,261 shares of the company’s stock worth $371,000 after acquiring an additional 61 shares during the period. LCM Capital Management Inc increased its position in shares of Procter & Gamble by 1.1% during the first quarter. LCM Capital Management Inc now owns 5,701 shares of the company’s stock valued at $925,000 after purchasing an additional 63 shares during the period. Finally, Home Federal Bank of Tennessee raised its stake in shares of Procter & Gamble by 0.3% in the second quarter. Home Federal Bank of Tennessee now owns 23,318 shares of the company’s stock valued at $3,846,000 after purchasing an additional 63 shares in the last quarter. 65.77% of the stock is owned by institutional investors.

Procter & Gamble Stock Performance

Shares of PG stock opened at $173.14 on Tuesday. The stock has a market cap of $408.63 billion, a PE ratio of 28.29, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The stock has a 50-day moving average of $170.88 and a 200-day moving average of $166.28. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.53. The Procter & Gamble Company has a one year low of $141.45 and a one year high of $177.94.

Procter & Gamble (NYSE:PG) last posted its earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.03. The company had revenue of $20.53 billion for the quarter, compared to analyst estimates of $20.69 billion. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the business posted $1.37 earnings per share. As a group, sell-side 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 declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were given a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Friday, July 19th. Procter & Gamble’s dividend payout ratio is currently 65.69%.

Insider Activity

In other Procter & Gamble news, insider Balaji Purushothaman sold 8,842 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the sale, the insider now directly owns 11,537 shares in the company, valued at approximately $1,902,451.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Procter & Gamble news, insider Susan Street Whaley sold 450 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $169.22, for a total value of $76,149.00. Following the sale, the insider now owns 13,072 shares in the company, valued at approximately $2,212,043.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Balaji Purushothaman sold 8,842 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the completion of the sale, the insider now directly owns 11,537 shares in the company, valued at approximately $1,902,451.30. The disclosure for this sale can be found here. Insiders have sold 375,553 shares of company stock worth $63,829,141 in the last 90 days. Corporate insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Barclays cut shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price objective for the company. in a research note on Monday. Royal Bank of Canada raised their price target on shares of Procter & Gamble from $157.00 to $164.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 31st. Evercore ISI increased their target price on Procter & Gamble from $177.00 to $183.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Piper Sandler initiated coverage on Procter & Gamble in a research note on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price target on the stock. Finally, Wolfe Research raised Procter & Gamble to a “strong-buy” rating in a report on Friday, August 23rd. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $175.89.

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.