Gries Financial LLC lifted its position in The Procter & Gamble Company (NYSE:PG - Free Report) by 728.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,900 shares of the company's stock after buying an additional 21,896 shares during the quarter. Procter & Gamble comprises 0.8% of Gries Financial LLC's investment portfolio, making the stock its 22nd largest holding. Gries Financial LLC's holdings in Procter & Gamble were worth $4,313,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Legacy Financial Group LLC acquired a new stake in Procter & Gamble in the 1st quarter worth approximately $270,000. Park Avenue Securities LLC boosted its holdings in shares of Procter & Gamble by 10.7% during the 1st quarter. Park Avenue Securities LLC now owns 83,748 shares of the company's stock worth $13,588,000 after buying an additional 8,084 shares during the period. Aprio Wealth Management LLC grew its stake in Procter & Gamble by 12.8% in the 1st quarter. Aprio Wealth Management LLC now owns 6,027 shares of the company's stock valued at $978,000 after buying an additional 683 shares during the last quarter. Fragasso Group Inc. raised its holdings in Procter & Gamble by 1.9% in the 1st quarter. Fragasso Group Inc. now owns 11,143 shares of the company's stock worth $1,808,000 after acquiring an additional 210 shares during the period. Finally, Triangle Securities Wealth Management lifted its position in Procter & Gamble by 3.5% during the 1st quarter. Triangle Securities Wealth Management now owns 15,947 shares of the company's stock worth $2,587,000 after acquiring an additional 540 shares during the last quarter. Institutional investors and hedge funds own 65.77% of the company's stock.
Procter & Gamble Price Performance
Shares of Procter & Gamble stock traded up $0.01 during mid-day trading on Friday, reaching $171.28. 8,372,536 shares of the stock were exchanged, compared to its average volume of 6,692,838. The Procter & Gamble Company has a fifty-two week low of $142.50 and a fifty-two week high of $177.94. The company has a market cap of $404.24 billion, a price-to-earnings ratio of 27.99, a price-to-earnings-growth ratio of 3.74 and a beta of 0.41. The firm has a 50-day simple moving average of $171.77 and a 200 day simple moving average of $167.16. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.51.
Procter & Gamble (NYSE:PG - Get Free Report) last posted its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.03. The company had revenue of $21.74 billion during the quarter, compared to analyst estimates of $21.99 billion. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The company's revenue was down .6% on a year-over-year basis. During the same quarter last year, the business posted $1.83 earnings per share. On average, sell-side analysts predict that The Procter & Gamble Company will post 6.97 EPS for the current fiscal year.
Procter & Gamble Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Friday, October 18th. Procter & Gamble's payout ratio is presently 65.69%.
Insider Activity
In related news, insider Balaji Purushothaman sold 8,842 shares of the firm'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 value of $1,458,045.80. Following the completion of the sale, the insider now owns 11,537 shares of the company's stock, valued at $1,902,451.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale 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 the firm's 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 transaction, the insider now owns 11,537 shares in the company, valued at $1,902,451.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ma. Fatima Francisco sold 96,000 shares of Procter & Gamble 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 completion of the sale, the chief executive officer now owns 13,721 shares of the company's stock, valued at approximately $2,332,570. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 383,194 shares of company stock worth $65,140,718. 0.17% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
PG has been the subject of several research analyst reports. Jefferies Financial Group cut Procter & Gamble from a "buy" rating to a "hold" rating and cut their price objective for the stock from $182.00 to $175.00 in a research report on Wednesday, July 24th. Wolfe Research raised Procter & Gamble to a "strong-buy" rating in a research report on Friday, August 23rd. Barclays lowered shares of Procter & Gamble from an "overweight" rating to an "equal weight" rating and set a $163.00 target price on the stock. in a research report on Monday, September 30th. DZ Bank raised shares of Procter & Gamble from a "hold" rating to a "buy" rating and set a $190.00 price target for the company in a report on Thursday, August 29th. Finally, Stifel Nicolaus boosted their price objective on shares of Procter & Gamble from $157.00 to $161.00 and gave the stock a "hold" rating in a report on Monday, July 22nd. Nine research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $176.21.
View Our Latest Stock Analysis on PG
Procter & Gamble Company Profile
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Free Report)
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.
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