Icon Wealth Advisors LLC Boosts Stake in The Procter & Gamble Company (NYSE:PG)

Icon Wealth Advisors LLC raised its position in The Procter & Gamble Company (NYSE:PG) by 5.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,613 shares of the company’s stock after buying an additional 1,380 shares during the period. Icon Wealth Advisors LLC’s holdings in Procter & Gamble were worth $4,956,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PG. Acorn Creek Capital LLC lifted its position in shares of Procter & Gamble by 2.8% during the third quarter. Acorn Creek Capital LLC now owns 2,170 shares of the company’s stock worth $376,000 after purchasing an additional 59 shares during the last quarter. Patrick M Sweeney & Associates Inc. lifted its position in shares of Procter & Gamble by 1.1% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 5,561 shares of the company’s stock worth $963,000 after purchasing an additional 59 shares during the last quarter. Hudson Value Partners LLC lifted its position in shares of Procter & Gamble by 4.1% during the second 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. Traveka Wealth LLC lifted its position in shares of Procter & Gamble by 1.7% during the third quarter. Traveka Wealth LLC now owns 3,554 shares of the company’s stock worth $616,000 after purchasing an additional 60 shares during the last quarter. Finally, Fiduciary Alliance LLC lifted 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 worth $371,000 after purchasing an additional 61 shares during the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Jon R. Moeller sold 7,007 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total transaction of $1,202,751.55. Following the completion of the transaction, the chief executive officer now directly owns 269,172 shares in the company, valued at $46,203,373.80. This represents a 2.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Balaji Purushothaman sold 12,800 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $172.73, for a total transaction of $2,210,944.00. Following the completion of the sale, the insider now owns 11,595 shares in the company, valued at $2,002,804.35. This represents a 52.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,233 shares of company stock worth $6,024,234. 0.18% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PG has been the topic of several research reports. DA Davidson upgraded shares of Procter & Gamble from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $160.00 to $209.00 in a research note on Monday. Hsbc Global Res upgraded shares of Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. Wolfe Research upgraded shares of Procter & Gamble to a “strong-buy” rating in a research note on Friday, August 23rd. DZ Bank upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective on the stock in a research note on Thursday, August 29th. Finally, Piper Sandler initiated coverage on shares of Procter & Gamble in a research note on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price objective on the stock. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Procter & Gamble has an average rating of “Moderate Buy” and an average target price of $180.45.

Procter & Gamble Price Performance

NYSE PG opened at $179.36 on Friday. The firm has a market capitalization of $422.40 billion, a PE ratio of 30.92, a P/E/G ratio of 3.86 and a beta of 0.42. The Procter & Gamble Company has a 12 month low of $142.50 and a 12 month high of $180.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55. The company’s 50 day simple moving average is $170.37 and its 200 day simple moving average is $168.98.

Procter & Gamble (NYSE:PG) last issued its earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.03. The firm had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the firm posted $1.83 earnings per share. As a group, equities research analysts forecast that The Procter & Gamble Company will post 6.97 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were issued a dividend of $1.0065 per share. The ex-dividend date was Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.24%. Procter & Gamble’s dividend payout ratio is currently 69.48%.

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.