Edge Wealth Management LLC Reduces Position in The Procter & Gamble Company (NYSE:PG)

Edge Wealth Management LLC trimmed its position in The Procter & Gamble Company (NYSE:PG) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,939 shares of the company’s stock after selling 305 shares during the quarter. Procter & Gamble makes up approximately 2.0% of Edge Wealth Management LLC’s portfolio, making the stock its 22nd biggest holding. Edge Wealth Management LLC’s holdings in Procter & Gamble were worth $10,035,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alera Investment Advisors LLC grew its holdings in shares of Procter & Gamble by 1.2% during the 1st 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 in the last quarter. Hudson Value Partners LLC boosted its holdings in Procter & Gamble by 4.1% in 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 in the last quarter. Traveka Wealth LLC boosted its holdings in Procter & Gamble by 1.7% in 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 in the last quarter. Fiduciary Alliance LLC boosted its holdings in Procter & Gamble by 2.8% in 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 in the last quarter. Finally, Allen Mooney & Barnes Investment Advisors LLC boosted its holdings in Procter & Gamble by 0.7% in the third quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 8,699 shares of the company’s stock worth $1,507,000 after purchasing an additional 61 shares in the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Balaji Purushothaman sold 8,842 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were 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 $1,902,451.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Balaji Purushothaman sold 8,842 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the completion of the sale, the insider now directly owns 11,537 shares in the company, valued at $1,902,451.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO R. Alexandra Keith sold 3,373 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $170.00, for a total transaction of $573,410.00. Following the sale, the chief executive officer now owns 21,513 shares of the company’s stock, valued at approximately $3,657,210. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 383,194 shares of company stock worth $65,140,718. 0.17% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PG. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Procter & Gamble from $171.00 to $176.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Royal Bank of Canada upped their price objective on shares of Procter & Gamble from $157.00 to $164.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 31st. Dbs Bank cut shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. BNP Paribas began coverage on shares of Procter & Gamble in a report on Monday, June 24th. They set an “outperform” rating and a $187.00 price target for the company. Finally, DA Davidson restated a “neutral” rating and set a $159.00 price target on shares of Procter & Gamble in a report on Tuesday. Nine investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $176.21.

Procter & Gamble Stock Up 0.6 %

PG stock traded up $1.06 during midday trading on Tuesday, hitting $173.57. The company’s stock had a trading volume of 7,172,143 shares, compared to its average volume of 6,685,523. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.53. The Procter & Gamble Company has a twelve month low of $142.50 and a twelve month high of $177.94. The company’s fifty day moving average price is $171.57 and its 200 day moving average price is $166.88. The stock has a market capitalization of $409.65 billion, a P/E ratio of 28.43, a PEG ratio of 3.67 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.03. The company had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $20.69 billion. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The company’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter last year, the firm posted $1.37 EPS. As a group, equities research analysts predict that The Procter & Gamble Company will post 6.97 EPS for the current year.

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be given a $1.0065 dividend. This represents a $4.03 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, October 18th. Procter & Gamble’s payout ratio is presently 65.69%.

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.