Wedmont Private Capital Raises Stock Position in The Procter & Gamble Company (NYSE:PG)

Wedmont Private Capital increased its position in The Procter & Gamble Company (NYSE:PG) by 3.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,641 shares of the company’s stock after acquiring an additional 1,095 shares during the period. Wedmont Private Capital’s holdings in Procter & Gamble were worth $6,124,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new position in Procter & Gamble during the second quarter worth $28,000. Fairway Wealth LLC purchased a new stake in Procter & Gamble in the 2nd quarter worth approximately $29,000. Ruedi Wealth Management Inc. raised its holdings 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 acquiring an additional 77 shares during the last quarter. POM Investment Strategies LLC purchased a new position in shares of Procter & Gamble during the 2nd quarter worth $34,000. Finally, Transcendent Capital Group LLC purchased a new stake in shares of Procter & Gamble in the fourth quarter valued at $31,000. 65.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PG has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on Procter & Gamble from $171.00 to $176.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Royal Bank of Canada increased their price objective on shares of Procter & Gamble from $157.00 to $164.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 31st. TD Cowen initiated coverage on shares of Procter & Gamble in a report on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 target price for the company. Jefferies Financial Group cut shares of Procter & Gamble from a “buy” rating to a “hold” rating and lowered their price objective for the company from $182.00 to $175.00 in a research note on Wednesday, July 24th. Finally, Evercore ISI lifted their target price on Procter & Gamble from $177.00 to $183.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Ten analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $175.05.

Procter & Gamble Stock Up 0.7 %

PG stock opened at $169.27 on Thursday. The company has a market capitalization of $399.50 billion, a P/E ratio of 27.66, a PEG ratio of 3.73 and a beta of 0.41. The firm has a 50 day simple moving average of $171.22 and a 200-day simple moving average of $166.63. 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 Procter & Gamble Company has a twelve month low of $141.66 and a twelve month high of $177.94.

Procter & Gamble (NYSE:PG) last issued 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 company’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the company posted $1.37 earnings per share. On average, equities research analysts predict that The Procter & Gamble Company will post 6.97 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

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

Insider Transactions at Procter & Gamble

In related news, insider Susan Street Whaley sold 634 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $108,826.10. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Procter & Gamble news, COO Shailesh Jejurikar sold 10,623 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total transaction of $1,797,624.06. Following the transaction, the chief operating officer now owns 23,890 shares of the company’s stock, valued at approximately $4,042,665.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Susan Street Whaley sold 634 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total transaction of $108,826.10. Following the sale, the insider now owns 19,341 shares in the company, valued at $3,319,882.65. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 383,194 shares of company stock worth $65,140,718. 0.17% of the stock is currently owned by insiders.

Procter & Gamble Company Profile

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.