Heritage Wealth Management Inc. Makes New $19.52 Million Investment in The Procter & Gamble Company (NYSE:PG)

Heritage Wealth Management Inc. acquired a new position in The Procter & Gamble Company (NYSE:PG) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 118,147 shares of the company’s stock, valued at approximately $19,519,000. Procter & Gamble makes up 6.5% of Heritage Wealth Management Inc.’s holdings, making the stock its largest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Sanctuary Advisors LLC bought a new stake in shares of Procter & Gamble in the 2nd quarter worth $69,596,000. Creekside Partners acquired a new position in Procter & Gamble during the second quarter valued at $637,000. Brown Financial Advisors acquired a new position in Procter & Gamble during the second quarter valued at $2,003,000. Centennial Bank AR raised its position in Procter & Gamble by 4.6% during the second quarter. Centennial Bank AR now owns 2,435 shares of the company’s stock valued at $403,000 after buying an additional 108 shares during the period. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Procter & Gamble during the second quarter valued at $1,782,000. Institutional investors own 65.77% of the company’s stock.

Insider Transactions at Procter & Gamble

In other news, insider Balaji Purushothaman sold 8,842 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 11,537 shares of the company’s stock, valued at approximately $1,902,451.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Balaji Purushothaman sold 8,842 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 11,537 shares in the company, valued at approximately $1,902,451.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Susan Street Whaley sold 450 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total value of $76,149.00. Following the completion of the transaction, the insider now owns 13,072 shares in the company, valued at $2,212,043.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 375,553 shares of company stock valued at $63,829,141. Corporate insiders own 0.17% of the company’s stock.

Procter & Gamble Trading Down 0.1 %

Procter & Gamble stock opened at $173.07 on Wednesday. The business has a 50 day moving average price of $171.01 and a two-hundred day moving average price of $166.36. The company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 0.51. The stock has a market cap of $408.47 billion, a price-to-earnings ratio of 28.28, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a 12 month low of $141.45 and a 12 month high of $177.94.

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. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The firm had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $20.69 billion. During the same quarter in the prior year, the firm posted $1.37 EPS. The company’s revenue for the quarter was down .1% on a year-over-year basis. As a group, equities analysts forecast that The Procter & Gamble Company will post 6.97 EPS for the current year.

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were issued a $1.0065 dividend. The ex-dividend date was Friday, July 19th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.33%. Procter & Gamble’s payout ratio is presently 65.69%.

Analysts Set New Price Targets

PG has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price target on Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Wolfe Research raised Procter & Gamble to a “strong-buy” rating in a research report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft upped their price target on Procter & Gamble from $171.00 to $176.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Royal Bank of Canada boosted their target price on Procter & Gamble from $157.00 to $164.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group downgraded Procter & Gamble from a “buy” rating to a “hold” rating and lowered their target price for the company from $182.00 to $175.00 in a research note on Wednesday, July 24th. Nine research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Procter & Gamble has a consensus rating of “Moderate Buy” and an average price target of $175.89.

Procter & Gamble 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.