Legend Financial Advisors Inc. Raises Stock Position in The Procter & Gamble Company (NYSE:PG)

Legend Financial Advisors Inc. increased its stake in The Procter & Gamble Company (NYSE:PG) by 476.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 582 shares of the company’s stock after purchasing an additional 481 shares during the quarter. Legend Financial Advisors Inc.’s holdings in Procter & Gamble were worth $98,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Itau Unibanco Holding S.A. purchased a new position in shares of Procter & Gamble in the second quarter valued at $28,000. Fairway Wealth LLC purchased a new position in Procter & Gamble in the 2nd quarter valued at about $29,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Procter & Gamble during the third quarter valued at about $33,000. Quest Partners LLC acquired a new position in shares of Procter & Gamble in the second quarter worth about $36,000. Finally, Fairfield Financial Advisors LTD purchased a new position in Procter & Gamble in the second quarter valued at about $44,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PG shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $164.00 price target on shares of Procter & Gamble in a report on Monday, October 21st. Barclays downgraded shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price target on the stock. in a research report on Monday, September 30th. Hsbc Global Res upgraded shares of Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. Wells Fargo & Company dropped their target price on Procter & Gamble from $190.00 to $176.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Morgan Stanley upped their price target on shares of Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Eight research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Procter & Gamble currently has an average rating of “Moderate Buy” and a consensus price target of $179.75.

Procter & Gamble Price Performance

PG stock traded up $0.76 during midday trading on Tuesday, reaching $161.36. 8,447,085 shares of the stock were exchanged, compared to its average volume of 6,958,007. The Procter & Gamble Company has a 52 week low of $146.28 and a 52 week high of $180.43. The company has a fifty day moving average price of $170.03 and a 200 day moving average price of $169.80. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55. The stock has a market capitalization of $380.01 billion, a PE ratio of 27.82, a P/E/G ratio of 3.70 and a beta of 0.45.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. The business had revenue of $21.74 billion during the quarter, compared to analyst estimates of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the business earned $1.83 EPS. As a group, analysts expect that The Procter & Gamble Company will post 6.94 EPS for the current fiscal year.

Insider Activity

In other Procter & Gamble news, CEO R. Alexandra Keith sold 1,992 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $170.00, for a total value of $338,640.00. Following the completion of the sale, the chief executive officer now directly owns 13,783 shares in the company, valued at approximately $2,343,110. This trade represents a 12.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Balaji Purushothaman sold 12,800 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the transaction, the insider now owns 11,566 shares in the company, valued at $1,954,538.34. This represents a 52.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 75,439 shares of company stock valued at $13,317,460. Company insiders own 0.18% of the company’s stock.

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.