Bruce G. Allen Investments LLC Cuts Stock Position in The Procter & Gamble Company (NYSE:PG)

Bruce G. Allen Investments LLC lessened its holdings in The Procter & Gamble Company (NYSE:PG) by 3.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 5,637 shares of the company’s stock after selling 218 shares during the period. Procter & Gamble accounts for approximately 0.8% of Bruce G. Allen Investments LLC’s holdings, making the stock its 19th biggest position. Bruce G. Allen Investments LLC’s holdings in Procter & Gamble were worth $976,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Itau Unibanco Holding S.A. bought a new position in shares of Procter & Gamble during the 2nd quarter valued at about $28,000. Fairway Wealth LLC purchased a new position in shares of Procter & Gamble during the second quarter valued at approximately $29,000. Ruedi Wealth Management Inc. boosted its position in shares of Procter & Gamble by 64.7% during the first quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock valued at $32,000 after buying an additional 77 shares during the period. POM Investment Strategies LLC purchased a new position in shares of Procter & Gamble during the second quarter valued at approximately $34,000. Finally, Transcendent Capital Group LLC purchased a new position in shares of Procter & Gamble during the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Procter & Gamble Stock Up 0.7 %

PG opened at $169.27 on Thursday. The Procter & Gamble Company has a twelve month low of $141.66 and a twelve month high of $177.94. 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 company has a 50-day moving average price of $171.22 and a 200 day moving average price of $166.63. The company has a market cap of $399.50 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 3.73 and a beta of 0.41.

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

Procter & Gamble Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be issued a $1.0065 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a yield of 2.38%. Procter & Gamble’s payout ratio is 65.69%.

Insider Buying and Selling at Procter & Gamble

In other news, CEO Ma. Fatima Francisco sold 96,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $170.00, for a total value of $16,320,000.00. Following the completion of the sale, the chief executive officer now owns 13,721 shares of the company’s stock, valued at $2,332,570. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Procter & Gamble news, insider Susan Street Whaley sold 634 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $108,826.10. Following the completion of the transaction, the insider now owns 19,341 shares of the company’s stock, valued at $3,319,882.65. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ma. Fatima Francisco sold 96,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $170.00, for a total transaction of $16,320,000.00. Following the completion of the transaction, the chief executive officer now directly owns 13,721 shares of the company’s stock, valued at $2,332,570. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 383,194 shares of company stock worth $65,140,718. Insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wolfe Research raised shares of Procter & Gamble to a “strong-buy” rating in a research note on Friday, August 23rd. Stifel Nicolaus upped their price target on Procter & Gamble from $157.00 to $161.00 and gave the stock a “hold” rating in a research report on Monday, July 22nd. TD Cowen initiated coverage on Procter & Gamble in a research report on Tuesday, July 23rd. They set a “buy” rating and a $189.00 price target on the stock. BNP Paribas initiated coverage on shares of Procter & Gamble in a report on Monday, June 24th. They set an “outperform” rating and a $187.00 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Ten research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $175.05.

About Procter & Gamble

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company 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, SK-II, and Native brands.