Ridgeline Wealth Planning LLC Takes Position in The Procter & Gamble Company (NYSE:PG)

Ridgeline Wealth Planning LLC purchased a new position in shares of The Procter & Gamble Company (NYSE:PG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,465 shares of the company’s stock, valued at approximately $581,000. Procter & Gamble makes up 0.6% of Ridgeline Wealth Planning LLC’s holdings, making the stock its 19th biggest holding.

A number of other hedge funds have also recently added to or reduced their stakes in PG. Concurrent Investment Advisors LLC lifted its holdings in shares of Procter & Gamble by 4.5% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock worth $16,300,000 after acquiring an additional 4,035 shares during the period. Copley Financial Group Inc. acquired a new position in Procter & Gamble during the third quarter valued at approximately $668,000. Fortem Financial Group LLC bought a new stake in Procter & Gamble during the fourth quarter worth $569,000. Richard C. Young & CO. LTD. boosted its holdings in shares of Procter & Gamble by 2.1% in the 4th quarter. Richard C. Young & CO. LTD. now owns 123,853 shares of the company’s stock valued at $20,764,000 after purchasing an additional 2,568 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Procter & Gamble by 7.5% during the 4th quarter. Nordea Investment Management AB now owns 2,898,569 shares of the company’s stock worth $484,583,000 after buying an additional 201,695 shares in the last quarter. Institutional investors own 65.77% of the company’s stock.

Procter & Gamble Stock Performance

Shares of PG stock opened at $169.53 on Wednesday. The stock has a market capitalization of $397.52 billion, a PE ratio of 26.99, a PEG ratio of 3.79 and a beta of 0.45. The business’s 50 day simple moving average is $167.06 and its 200 day simple moving average is $169.44. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55. The Procter & Gamble Company has a one year low of $153.52 and a one year high of $180.43.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.02. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The company had revenue of $21.88 billion for the quarter, compared to analyst estimates of $21.66 billion. During the same period in the prior year, the firm posted $1.84 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, research analysts forecast that The Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th will be paid a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, January 24th. Procter & Gamble’s dividend payout ratio is 64.17%.

Insider Activity at Procter & Gamble

In other news, insider Balaji Purushothaman sold 12,800 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $172.73, for a total transaction of $2,210,944.00. Following the transaction, the insider now owns 11,595 shares in the company, valued at approximately $2,002,804.35. This represents a 52.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gary A. Coombe sold 47,847 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $179.84, for a total value of $8,604,804.48. Following the completion of the sale, the chief executive officer now owns 39,977 shares of the company’s stock, valued at approximately $7,189,463.68. This represents a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 151,097 shares of company stock worth $25,635,076 in the last 90 days. Corporate insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on PG shares. JPMorgan Chase & Co. reduced their price objective on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. UBS Group decreased their price target on shares of Procter & Gamble from $196.00 to $189.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Morgan Stanley increased their price objective on shares of Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Evercore ISI raised their target price on shares of Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Finally, Wells Fargo & Company upped their price target on shares of Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $180.53.

Procter & Gamble Company Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.