Portside Wealth Group LLC Decreases Stock Position in The Procter & Gamble Company (NYSE:PG)

Portside Wealth Group LLC lowered its stake in The Procter & Gamble Company (NYSE:PG) by 2.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,047 shares of the company’s stock after selling 449 shares during the quarter. Portside Wealth Group LLC’s holdings in Procter & Gamble were worth $3,141,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Advantage Trust Co purchased a new stake in shares of Procter & Gamble during the 4th quarter valued at about $28,000. Naples Money Management LLC purchased a new stake in shares of Procter & Gamble during the 4th quarter valued at about $29,000. Transcendent Capital Group LLC purchased a new stake in shares of Procter & Gamble during the 4th quarter valued at about $31,000. Ruedi Wealth Management Inc. raised its position in shares of Procter & Gamble by 64.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock valued at $32,000 after buying an additional 77 shares in the last quarter. Finally, Criterion Capital Advisors LLC bought a new position in Procter & Gamble during the 4th quarter valued at about $33,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Procter & Gamble

In related news, CEO Jon R. Moeller sold 72,174 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $171.01, for a total transaction of $12,342,475.74. Following the completion of the sale, the chief executive officer now owns 263,158 shares of the company’s stock, valued at $45,002,649.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Jon R. Moeller sold 72,174 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $171.01, for a total transaction of $12,342,475.74. Following the completion of the sale, the chief executive officer now owns 263,158 shares of the company’s stock, valued at $45,002,649.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO R. Alexandra Keith sold 3,373 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $170.00, for a total transaction of $573,410.00. Following the sale, the chief executive officer now directly owns 21,513 shares of the company’s stock, valued at approximately $3,657,210. The disclosure for this sale can be found here. Insiders sold 116,313 shares of company stock valued at $19,703,643 over the last 90 days. Insiders own 0.17% of the company’s stock.

Procter & Gamble Stock Down 0.0 %

Shares of NYSE PG traded down $0.03 during midday trading on Friday, reaching $167.89. 5,640,925 shares of the company’s stock traded hands, compared to its average volume of 6,674,588. 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’s 50 day simple moving average is $166.99 and its 200-day simple moving average is $163.22. The Procter & Gamble Company has a one year low of $141.45 and a one year high of $171.72. The company has a market cap of $396.24 billion, a price-to-earnings ratio of 27.43, a P/E/G ratio of 3.70 and a beta of 0.41.

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

Procter & Gamble Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Friday, July 19th were given a dividend of $1.0065 per share. The ex-dividend date was Friday, July 19th. This represents a $4.03 dividend on an annualized basis and a yield of 2.40%. Procter & Gamble’s payout ratio is 65.69%.

Wall Street Analysts Forecast Growth

PG has been the topic of several analyst reports. Evercore ISI upped their price target on shares of Procter & Gamble from $177.00 to $183.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Jefferies Financial Group downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating and cut their price target for the company from $182.00 to $175.00 in a report on Wednesday, July 24th. BNP Paribas initiated coverage on shares of Procter & Gamble in a report on Monday, June 24th. They set an “outperform” rating and a $187.00 price target on the stock. JPMorgan Chase & Co. cut their price target on shares of Procter & Gamble from $181.00 to $179.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Finally, Royal Bank of Canada upped their target price on shares of Procter & Gamble from $157.00 to $164.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 31st. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $173.95.

Procter & Gamble Profile

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.