Wallace Advisory Group LLC Acquires 144 Shares of The Procter & Gamble Company (NYSE:PG)

Wallace Advisory Group LLC increased its holdings in The Procter & Gamble Company (NYSE:PG) by 5.0% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,007 shares of the company’s stock after buying an additional 144 shares during the quarter. Wallace Advisory Group LLC’s holdings in Procter & Gamble were worth $496,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new position in shares of Procter & Gamble during the second quarter valued at approximately $28,000. Fairway Wealth LLC bought a new stake in Procter & Gamble in the 2nd quarter worth approximately $29,000. Ruedi Wealth Management Inc. raised its stake in Procter & Gamble by 64.7% during 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 during the last quarter. POM Investment Strategies LLC bought a new position in shares of Procter & Gamble during the 2nd quarter valued at $34,000. Finally, Transcendent Capital Group LLC purchased a new position in shares of Procter & Gamble in the 4th quarter worth $31,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Procter & Gamble Price Performance

PG stock opened at $173.55 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’s fifty day moving average price is $170.79 and its 200-day moving average price is $166.20. The Procter & Gamble Company has a one year low of $141.45 and a one year high of $177.94. The company has a market capitalization of $409.60 billion, a PE ratio of 28.36, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.37 by $0.03. The business had revenue of $20.53 billion for the quarter, compared to analysts’ expectations of $20.69 billion. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.37 EPS. On average, equities analysts anticipate that The Procter & Gamble Company will post 6.97 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

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

Insiders Place Their Bets

In other news, CEO Ma. Fatima Francisco sold 96,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was 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 in the company, valued at approximately $2,332,570. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Ma. Fatima Francisco sold 96,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 13,721 shares in the company, valued at approximately $2,332,570. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jon R. Moeller sold 37,240 shares of Procter & Gamble stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 263,537 shares of the company’s stock, 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 valued at $63,829,141 in the last quarter. 0.17% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PG. Piper Sandler initiated coverage on Procter & Gamble in a research report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 target price on the stock. DZ Bank raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective on the stock in a report on Thursday, August 29th. StockNews.com cut shares of Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Jefferies Financial Group cut shares of Procter & Gamble from a “buy” rating to a “hold” rating and dropped their price target for the stock from $182.00 to $175.00 in a research note on Wednesday, July 24th. Finally, Wolfe Research upgraded Procter & Gamble to a “strong-buy” rating in a research note on Friday, August 23rd. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $175.89.

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.