Spectrum Wealth Advisory Group LLC purchased a new position in The Procter & Gamble Company (NYSE:PG – Free Report) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 2,085 shares of the company’s stock, valued at approximately $350,000.
Several other institutional investors and hedge funds also recently bought and sold shares of PG. RPg Family Wealth Advisory LLC purchased a new position in shares of Procter & Gamble during the third quarter worth approximately $33,000. Bay Harbor Wealth Management LLC raised its position in shares of Procter & Gamble by 972.0% in the 4th quarter. Bay Harbor Wealth Management LLC now owns 268 shares of the company’s stock valued at $45,000 after purchasing an additional 243 shares during the last quarter. New Wave Wealth Advisors LLC acquired a new stake in shares of Procter & Gamble during the fourth quarter worth about $46,000. Costello Asset Management INC raised its holdings in shares of Procter & Gamble by 2,142.9% during the third quarter. Costello Asset Management INC now owns 314 shares of the company’s stock worth $54,000 after purchasing an additional 300 shares during the last quarter. Finally, DecisionPoint Financial LLC raised its position in Procter & Gamble by 46.7% during the fourth quarter. DecisionPoint Financial LLC now owns 330 shares of the company’s stock valued at $55,000 after acquiring an additional 105 shares in the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.
Procter & Gamble Trading Down 4.8 %
Shares of PG stock opened at $162.84 on Monday. The company has a market capitalization of $381.84 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 3.79 and a beta of 0.45. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $166.51 and a 200 day moving average price of $169.46. The Procter & Gamble Company has a twelve month low of $153.52 and a twelve month high of $180.43.
Procter & Gamble Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th will be issued a dividend of $1.0065 per share. The ex-dividend date is Friday, January 24th. This represents a $4.03 annualized dividend and a dividend yield of 2.47%. Procter & Gamble’s payout ratio is currently 64.17%.
Insiders Place Their Bets
In related news, insider Marc S. Pritchard sold 90,450 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total value of $14,819,328.00. Following the transaction, the insider now owns 172,814 shares in the company, valued at approximately $28,313,845.76. This trade represents a 34.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Balaji Purushothaman sold 12,800 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $172.73, for a total transaction of $2,210,944.00. Following the completion of the transaction, the insider now directly owns 11,595 shares in the company, valued at approximately $2,002,804.35. This represents a 52.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 151,097 shares of company stock valued at $25,635,076 over the last quarter. Company insiders own 0.18% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on PG. Morgan Stanley raised their target price on Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. DA Davidson reaffirmed a “buy” rating and set a $209.00 price objective on shares of Procter & Gamble in a research report on Thursday, January 23rd. Barclays lifted their target price on Procter & Gamble from $155.00 to $159.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. cut their price target on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Finally, Wells Fargo & Company lifted their price objective on Procter & Gamble from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $180.53.
Get Our Latest Stock Report on Procter & Gamble
Procter & Gamble Company Profile
Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.
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