Parallel Advisors LLC Grows Stock Position in The Procter & Gamble Company (NYSE:PG)

Parallel Advisors LLC raised its holdings in The Procter & Gamble Company (NYSE:PG) by 21.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,390 shares of the company’s stock after buying an additional 11,905 shares during the quarter. Parallel Advisors LLC’s holdings in Procter & Gamble were worth $11,114,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Alera Investment Advisors LLC boosted its position in shares of Procter & Gamble by 1.2% in the first quarter. Alera Investment Advisors LLC now owns 5,007 shares of the company’s stock valued at $812,000 after acquiring an additional 60 shares during the period. Hudson Value Partners LLC grew its position in Procter & Gamble by 4.1% in the 2nd quarter. Hudson Value Partners LLC now owns 1,516 shares of the company’s stock worth $250,000 after purchasing an additional 60 shares during the last quarter. 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 valued at $371,000 after buying an additional 61 shares during the last quarter. LCM Capital Management Inc lifted its stake in shares of Procter & Gamble by 1.1% in the first quarter. LCM Capital Management Inc now owns 5,701 shares of the company’s stock valued at $925,000 after buying an additional 63 shares during the period. Finally, Home Federal Bank of Tennessee grew its position in Procter & Gamble by 0.3% during the second quarter. Home Federal Bank of Tennessee now owns 23,318 shares of the company’s stock worth $3,846,000 after buying an additional 63 shares in the last quarter. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on PG shares. TD Cowen started coverage on Procter & Gamble in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 price objective for the company. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Procter & Gamble from $171.00 to $176.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. StockNews.com downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Royal Bank of Canada upped 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 note on Wednesday, July 31st. Finally, Citigroup lifted their price objective on Procter & Gamble from $177.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Procter & Gamble has an average rating of “Moderate Buy” and an average target price of $175.79.

Procter & Gamble Price Performance

Shares of PG opened at $174.08 on Friday. The company has a 50 day moving average of $169.38 and a 200-day moving average of $165.17. 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 stock has a market capitalization of $410.85 billion, a P/E ratio of 28.44, a P/E/G ratio of 3.77 and a beta of 0.41. The Procter & Gamble Company has a twelve month low of $141.45 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 firm 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 revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.37 EPS. As a group, equities research analysts forecast that The Procter & Gamble Company will post 6.97 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were given a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Friday, July 19th. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.85%.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, CEO Ma. Fatima Francisco sold 96,000 shares of Procter & Gamble stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $170.00, for a total transaction of $16,320,000.00. Following the completion of the transaction, the chief executive officer now directly owns 13,721 shares of the company’s stock, valued at $2,332,570. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Balaji Purushothaman sold 8,842 shares of Procter & Gamble stock in a transaction that occurred 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 transaction, the insider now directly owns 11,537 shares of the company’s stock, valued at $1,902,451.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ma. Fatima Francisco sold 96,000 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $170.00, for a total value of $16,320,000.00. Following the transaction, the chief executive officer now directly owns 13,721 shares of the company’s stock, valued at approximately $2,332,570. The disclosure for this sale can be found here. Insiders have sold 375,553 shares of company stock worth $63,829,141 over the last 90 days. Company insiders own 0.17% of the company’s stock.

About Procter & Gamble

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.