Oak Harbor Wealth Partners LLC Sells 243 Shares of The Procter & Gamble Company (NYSE:PG)

Oak Harbor Wealth Partners LLC reduced its stake in shares of The Procter & Gamble Company (NYSE:PG) by 0.8% during the second quarter, Holdings Channel reports. The institutional investor owned 29,497 shares of the company’s stock after selling 243 shares during the period. Procter & Gamble comprises 1.5% of Oak Harbor Wealth Partners LLC’s holdings, making the stock its 17th biggest position. Oak Harbor Wealth Partners LLC’s holdings in Procter & Gamble were worth $4,865,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Advantage Trust Co purchased a new position in shares of Procter & Gamble in the fourth quarter valued at approximately $28,000. Naples Money Management LLC purchased a new position in Procter & Gamble in the fourth quarter valued at $29,000. Transcendent Capital Group LLC purchased a new stake in Procter & Gamble during the 4th quarter worth about $31,000. Ruedi Wealth Management Inc. increased its position in shares of Procter & Gamble by 64.7% during the first quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock worth $32,000 after purchasing an additional 77 shares in the last quarter. Finally, Criterion Capital Advisors LLC purchased a new stake in Procter & Gamble during the 4th quarter valued at approximately $33,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

Procter & Gamble Stock Performance

PG traded down $0.03 during midday trading on Friday, reaching $167.89. The company had a trading volume of 5,640,925 shares, compared to its average volume of 6,674,588. The business has a 50-day moving average price of $166.99 and a two-hundred day moving average price of $163.26. 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 stock has a market cap of $396.24 billion, a PE ratio of 27.43, a P/E/G ratio of 3.70 and a beta of 0.41. The Procter & Gamble Company has a 12-month low of $141.45 and a 12-month high of $171.72.

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, topping 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 company had revenue of $20.53 billion during the quarter, compared to analyst estimates of $20.69 billion. During the same period last year, the business earned $1.37 EPS. Procter & Gamble’s quarterly revenue was down .1% compared to the same quarter last year. On average, sell-side analysts expect 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 disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were given a $1.0065 dividend. The ex-dividend date was Friday, July 19th. This represents a $4.03 annualized dividend and a yield of 2.40%. Procter & Gamble’s dividend payout ratio is presently 65.69%.

Insider Activity

In related news, insider Balaji Purushothaman sold 8,842 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 11,537 shares in the company, valued at approximately $1,902,451.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Procter & Gamble news, insider Balaji Purushothaman sold 8,842 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $164.90, for a total value of $1,458,045.80. Following the sale, the insider now owns 11,537 shares of the company’s stock, valued at $1,902,451.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar G. Raman sold 31,924 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $166.95, for a total value of $5,329,711.80. Following the transaction, the chief executive officer now owns 19,042 shares in the company, valued at $3,179,061.90. The disclosure for this sale can be found here. Insiders have sold 116,313 shares of company stock worth $19,703,643 in the last quarter. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on PG. Dbs Bank downgraded Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. TD Cowen began coverage on shares of Procter & Gamble in a research note on Tuesday, July 23rd. They set a “buy” rating and a $189.00 price objective on the stock. Royal Bank of Canada raised their target price on shares of Procter & Gamble from $157.00 to $164.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 31st. Evercore ISI boosted their target price on shares of Procter & Gamble from $177.00 to $183.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Finally, Stifel Nicolaus boosted their target price on shares of Procter & Gamble from $157.00 to $161.00 and gave the stock a “hold” rating in a research report on Monday, July 22nd. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Procter & Gamble presently has a consensus rating of “Moderate Buy” and an average target price of $173.95.

Procter & Gamble Company 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.