Absher Wealth Management LLC Sells 67 Shares of The Procter & Gamble Company (NYSE:PG)

Absher Wealth Management LLC trimmed its position in shares of The Procter & Gamble Company (NYSE:PG) by 5.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,214 shares of the company’s stock after selling 67 shares during the period. Absher Wealth Management LLC’s holdings in Procter & Gamble were worth $200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Advantage Trust Co purchased a new position in shares of Procter & Gamble in the 4th quarter worth $28,000. Transcendent Capital Group LLC bought a new stake in Procter & Gamble during the fourth quarter worth approximately $31,000. Ruedi Wealth Management Inc. raised its position in Procter & Gamble by 64.7% during the first 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 period. MeadowBrook Investment Advisors LLC bought a new stake in shares of Procter & Gamble in the 4th quarter valued at approximately $33,000. Finally, POM Investment Strategies LLC bought a new position in shares of Procter & Gamble during the 2nd quarter valued at approximately $34,000. 65.77% of the stock is currently owned by institutional investors.

Procter & Gamble Stock Performance

Shares of Procter & Gamble stock opened at $174.53 on Wednesday. The firm has a market capitalization of $411.91 billion, a P/E ratio of 28.52, a PEG ratio of 3.72 and a beta of 0.41. The Procter & Gamble Company has a 52 week low of $141.45 and a 52 week high of $175.00. 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 50 day moving average price of $167.70 and a 200 day moving average price of $164.36.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.40 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 business had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $20.69 billion. During the same period in the previous year, the firm posted $1.37 earnings per share. The business’s revenue for the quarter was down .1% compared to the same quarter last year. Sell-side analysts expect that The Procter & Gamble Company will post 6.97 EPS for the current year.

Procter & Gamble Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were paid a $1.0065 dividend. This represents a $4.03 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Friday, July 19th. Procter & Gamble’s payout ratio is 65.69%.

Analysts Set New Price Targets

PG has been the topic of a number of analyst reports. Citigroup boosted their price objective on shares of Procter & Gamble from $177.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. reduced their price objective on shares of Procter & Gamble from $181.00 to $179.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Dbs Bank lowered Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Barclays decreased their price target on Procter & Gamble from $174.00 to $163.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Finally, Wolfe Research upgraded Procter & Gamble to a “strong-buy” rating in a research report on Friday, August 23rd. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Procter & Gamble currently has an average rating of “Moderate Buy” and a consensus price target of $175.79.

Insider Activity at Procter & Gamble

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 shares were sold at an average price of $164.90, for a total value of $1,458,045.80. Following the sale, the insider now directly owns 11,537 shares of the company’s stock, valued at $1,902,451.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Jon R. Moeller sold 72,174 shares of Procter & Gamble stock in a transaction dated Friday, August 9th. The shares were 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 owns 263,158 shares in the company, valued at $45,002,649.58. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Balaji Purushothaman sold 8,842 shares of Procter & Gamble stock in a transaction dated 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 completion of the sale, the insider now owns 11,537 shares in the company, valued at $1,902,451.30. The disclosure for this sale can be found here. Insiders have sold a total of 375,553 shares of company stock worth $63,829,141 over the last quarter. Insiders own 0.17% of the company’s stock.

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.