Prio Wealth Limited Partnership Sells 25,964 Shares of The Procter & Gamble Company (NYSE:PG)

Prio Wealth Limited Partnership trimmed its holdings in The Procter & Gamble Company (NYSE:PG) by 30.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,998 shares of the company’s stock after selling 25,964 shares during the quarter. Prio Wealth Limited Partnership’s holdings in Procter & Gamble were worth $9,730,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PG. Alera Investment Advisors LLC grew its stake in shares of Procter & Gamble by 1.2% during the first quarter. Alera Investment Advisors LLC now owns 5,007 shares of the company’s stock valued at $812,000 after purchasing an additional 60 shares during the last quarter. Hudson Value Partners LLC increased its stake in shares of 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 buying an additional 60 shares during the period. Fiduciary Alliance LLC raised its position in shares of Procter & Gamble by 2.8% during the second 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 last quarter. LCM Capital Management Inc lifted its stake 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 acquiring an additional 63 shares during the period. Finally, Home Federal Bank of Tennessee boosted its stake in shares of Procter & Gamble by 0.3% in the 2nd 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 during the last quarter. Institutional investors own 65.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PG. Deutsche Bank Aktiengesellschaft upped their target price on shares of Procter & Gamble from $171.00 to $176.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Barclays cut Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 target price on the stock. in a report on Monday. Dbs Bank downgraded shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Royal Bank of Canada boosted their price objective on shares of Procter & Gamble from $157.00 to $164.00 and gave the company a “sector perform” rating in a report on Wednesday, July 31st. Finally, Citigroup increased their target price on shares of Procter & Gamble from $177.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Nine analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $175.89.

Procter & Gamble Price Performance

NYSE PG opened at $173.07 on Wednesday. The firm’s 50 day moving average is $171.01 and its 200-day moving average is $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 company has a market capitalization of $408.47 billion, a PE 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 issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.03. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The firm had revenue of $20.53 billion for the quarter, compared to analyst estimates of $20.69 billion. During the same period in the previous year, the business earned $1.37 EPS. The company’s revenue was down .1% compared to the same quarter last year. Equities research analysts anticipate that The Procter & Gamble Company will post 6.97 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors 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 yield of 2.33%. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.69%.

Insider Buying and Selling at Procter & Gamble

In other news, CEO Jon R. Moeller sold 37,240 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 263,537 shares of the company’s stock, valued at approximately $44,508,763.93. The transaction 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 Procter & Gamble stock in a transaction dated 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 completion of the sale, the insider now 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 Securities & Exchange Commission, which is accessible through this link. Also, CEO Jon R. Moeller sold 37,240 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $44,508,763.93. The disclosure for this sale can be found here. Insiders sold a total of 375,553 shares of company stock worth $63,829,141 over the last ninety days. 0.17% of the stock is currently owned by corporate insiders.

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.