Doheny Asset Management CA Buys New Holdings in The Procter & Gamble Company (NYSE:PG)

Doheny Asset Management CA bought a new stake in The Procter & Gamble Company (NYSE:PG) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,486 shares of the company’s stock, valued at approximately $905,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new stake in Procter & Gamble in the 2nd quarter valued at about $28,000. Fairway Wealth LLC bought a new stake in Procter & Gamble in the 2nd quarter valued at about $29,000. Transcendent Capital Group LLC bought a new stake in Procter & Gamble in the 4th quarter valued at about $31,000. Ruedi Wealth Management Inc. increased its position in Procter & Gamble by 64.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock valued at $32,000 after buying an additional 77 shares in the last quarter. Finally, POM Investment Strategies LLC bought a new stake in Procter & Gamble during the 2nd quarter worth approximately $34,000. 65.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. JPMorgan Chase & Co. boosted their price objective on Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. TD Cowen assumed coverage on Procter & Gamble in a report on Tuesday, July 23rd. They set a “buy” rating and a $189.00 price objective for the company. Jefferies Financial Group lowered Procter & Gamble from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $182.00 to $175.00 in a report on Wednesday, July 24th. Wolfe Research raised Procter & Gamble to a “strong-buy” rating in a report on Friday, August 23rd. Finally, BNP Paribas initiated coverage on Procter & Gamble in a report on Monday, June 24th. They set an “outperform” rating and a $187.00 price objective for the company. Eight 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 MarketBeat, Procter & Gamble has an average rating of “Moderate Buy” and a consensus price target of $175.89.

Insiders Place Their Bets

In other Procter & Gamble news, 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 transaction of $6,289,463.60. Following the sale, the chief executive officer now owns 263,537 shares in the company, valued at $44,508,763.93. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Andre Schulten sold 13,041 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $170.00, for a total value of $2,216,970.00. Following the transaction, the chief financial officer now owns 37,208 shares of the company’s stock, valued at $6,325,360. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jon R. Moeller sold 37,240 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $168.89, for a total transaction of $6,289,463.60. Following the completion of the transaction, the chief executive officer now directly owns 263,537 shares in the company, valued at approximately $44,508,763.93. The disclosure for this sale can be found here. Insiders have sold a total of 375,553 shares of company stock worth $63,829,141 over the last 90 days. Corporate insiders own 0.17% of the company’s stock.

Procter & Gamble Price Performance

Procter & Gamble stock opened at $173.55 on Friday. The Procter & Gamble Company has a 12 month low of $141.45 and a 12 month high of $177.94. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.51. The business’s 50 day simple moving average is $170.79 and its 200 day simple moving average is $166.17. The company has a market cap of $409.60 billion, a price-to-earnings ratio of 28.36, a PEG ratio of 3.76 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data 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 business had revenue of $20.53 billion for the quarter, compared to the consensus estimate of $20.69 billion. During the same quarter in the prior year, the business earned $1.37 earnings per share. Procter & Gamble’s revenue for the quarter was down .1% on a year-over-year basis. Sell-side analysts forecast that The Procter & Gamble Company will post 6.97 EPS for the current year.

Procter & Gamble Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were given a dividend of $1.0065 per share. The ex-dividend date of this dividend was Friday, July 19th. This represents a $4.03 annualized dividend and a dividend yield of 2.32%. Procter & Gamble’s dividend payout ratio is currently 65.85%.

About Procter & Gamble

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.