Portside Wealth Group LLC Has $3.14 Million Stock Holdings in The Procter & Gamble Company (NYSE:PG)

Portside Wealth Group LLC cut its stake in The Procter & Gamble Company (NYSE:PG) by 2.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,047 shares of the company’s stock after selling 449 shares during the period. Portside Wealth Group LLC’s holdings in Procter & Gamble were worth $3,141,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Advantage Trust Co bought a new position in shares of Procter & Gamble in the 4th quarter valued at $28,000. Naples Money Management LLC bought a new position in shares of Procter & Gamble in the 4th quarter valued at $29,000. Transcendent Capital Group LLC bought a new position in shares of Procter & Gamble in the 4th quarter valued at $31,000. Ruedi Wealth Management Inc. increased its stake in shares of 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 purchasing an additional 77 shares during the last quarter. Finally, Criterion Capital Advisors LLC bought a new stake in Procter & Gamble during the 4th quarter worth $33,000. 65.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Argus boosted their price objective on Procter & Gamble from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Barclays reduced their price objective on Procter & Gamble from $174.00 to $163.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Citigroup boosted their price objective on Procter & Gamble from $177.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. TD Cowen started coverage on Procter & Gamble in a research report on Tuesday, July 23rd. They set a “buy” rating and a $189.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their price target on Procter & Gamble from $181.00 to $179.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $173.95.

Procter & Gamble Stock Down 0.0 %

PG stock traded down $0.03 during trading on Friday, reaching $167.89. 5,640,925 shares of the stock were exchanged, compared to its average volume of 6,674,588. The firm’s 50 day moving average is $166.99 and its 200 day moving average is $163.22. The Procter & Gamble Company has a twelve month low of $141.45 and a twelve month high of $171.72. 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 firm has a market cap of $396.24 billion, a P/E ratio of 27.43, a price-to-earnings-growth ratio of 3.70 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the business earned $1.37 EPS. The firm’s revenue for the quarter was down .1% on a year-over-year basis. As a group, research analysts forecast that The Procter & Gamble Company will post 6.97 EPS for the current year.

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Friday, July 19th were paid a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date was Friday, July 19th. Procter & Gamble’s dividend payout ratio (DPR) is currently 65.69%.

Insider Buying and Selling

In related news, CEO Jon R. Moeller sold 72,174 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $171.01, for a total transaction of $12,342,475.74. Following the transaction, the chief executive officer now directly owns 263,158 shares of the company’s stock, valued at approximately $45,002,649.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Procter & Gamble news, insider Balaji Purushothaman sold 8,842 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was 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 directly owns 11,537 shares of the company’s stock, valued at approximately $1,902,451.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jon R. Moeller sold 72,174 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $171.01, for a total value of $12,342,475.74. Following the sale, the chief executive officer now directly owns 263,158 shares of the company’s stock, valued at $45,002,649.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 116,313 shares of company stock valued at $19,703,643. 0.17% of the stock is owned by company 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.