Edge Wealth Management LLC Sells 305 Shares of The Procter & Gamble Company (NYSE:PG)

Edge Wealth Management LLC decreased its stake in The Procter & Gamble Company (NYSE:PG) by 0.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 57,939 shares of the company’s stock after selling 305 shares during the period. Procter & Gamble makes up 2.0% of Edge Wealth Management LLC’s portfolio, making the stock its 22nd largest position. Edge Wealth Management LLC’s holdings in Procter & Gamble were worth $10,035,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new position in shares of Procter & Gamble in the second quarter worth about $28,000. Fairway Wealth LLC purchased a new position in shares of Procter & Gamble in the second quarter worth about $29,000. Ruedi Wealth Management Inc. grew its stake in Procter & Gamble by 64.7% during the first quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock valued at $32,000 after acquiring an additional 77 shares in the last quarter. POM Investment Strategies LLC purchased a new position in Procter & Gamble during the second quarter valued at approximately $34,000. Finally, Quest Partners LLC purchased a new position in Procter & Gamble during the second quarter valued at approximately $36,000. Institutional investors own 65.77% of the company’s stock.

Insider Transactions at Procter & Gamble

In other Procter & Gamble news, CEO R. Alexandra Keith sold 3,373 shares of the firm’s 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 owns 21,513 shares in the company, valued at approximately $3,657,210. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO R. Alexandra Keith sold 3,373 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $170.00, for a total value of $573,410.00. Following the completion of the sale, the chief executive officer now directly owns 21,513 shares in the company, valued at $3,657,210. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Susan Street Whaley sold 450 shares of Procter & Gamble stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $169.22, for a total value of $76,149.00. Following the sale, the insider now owns 13,072 shares of the company’s stock, valued at approximately $2,212,043.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 383,194 shares of company stock worth $65,140,718 in the last quarter. Company insiders own 0.17% of the company’s stock.

Procter & Gamble Stock Up 0.6 %

PG stock traded up $1.06 during trading on Tuesday, hitting $173.57. 7,172,143 shares of the stock traded hands, compared to its average volume of 6,685,523. The Procter & Gamble Company has a 1 year low of $142.50 and a 1 year high of $177.94. The firm’s 50 day moving average is $171.57 and its two-hundred day moving average is $166.88. The stock has a market cap of $409.65 billion, a price-to-earnings ratio of 28.43, a price-to-earnings-growth ratio of 3.67 and a beta of 0.41. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.53.

Procter & Gamble (NYSE:PG) last posted its earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.03. The business had revenue of $20.53 billion for the quarter, compared to analysts’ expectations of $20.69 billion. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.37 EPS. On average, sell-side analysts anticipate that The Procter & Gamble Company will post 6.97 EPS for the current year.

Procter & Gamble Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid 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 dividend payout ratio (DPR) is presently 65.69%.

Wall Street Analyst Weigh In

PG has been the subject of several recent analyst reports. BNP Paribas initiated coverage on shares of Procter & Gamble in a research note on Monday, June 24th. They set an “outperform” rating and a $187.00 price objective for the company. JPMorgan Chase & Co. boosted their price target on shares of Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Stifel Nicolaus boosted their price target on shares of Procter & Gamble from $157.00 to $161.00 and gave the stock a “hold” rating in a research note on Monday, July 22nd. Evercore ISI boosted their price target on shares of Procter & Gamble from $177.00 to $183.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Finally, TD Cowen started coverage on shares of Procter & Gamble in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 price target for the company. Nine investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Procter & Gamble has a consensus rating of “Moderate Buy” and a consensus target price of $176.21.

Procter & Gamble 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.