Fortress Financial Solutions LLC Buys New Position in The Procter & Gamble Company (NYSE:PG)

Fortress Financial Solutions LLC purchased a new stake in The Procter & Gamble Company (NYSE:PG) during the 4th quarter, HoldingsChannel reports. The firm purchased 2,940 shares of the company’s stock, valued at approximately $493,000. Procter & Gamble comprises approximately 0.7% of Fortress Financial Solutions LLC’s investment portfolio, making the stock its 29th biggest holding.

Other hedge funds have also added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC bought a new stake in shares of Procter & Gamble during the third quarter valued at approximately $33,000. Bay Harbor Wealth Management LLC lifted its position in Procter & Gamble by 972.0% during the fourth quarter. Bay Harbor Wealth Management LLC now owns 268 shares of the company’s stock valued at $45,000 after buying an additional 243 shares during the period. New Wave Wealth Advisors LLC bought a new stake in shares of Procter & Gamble during the 4th quarter valued at $46,000. Costello Asset Management INC grew its position in shares of Procter & Gamble by 2,142.9% in the 3rd quarter. Costello Asset Management INC now owns 314 shares of the company’s stock worth $54,000 after buying an additional 300 shares during the period. Finally, DecisionPoint Financial LLC increased its stake in shares of Procter & Gamble by 46.7% in the 4th quarter. DecisionPoint Financial LLC now owns 330 shares of the company’s stock worth $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.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PG shares. Stifel Nicolaus boosted their price objective on shares of Procter & Gamble from $161.00 to $165.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. DA Davidson restated a “buy” rating and issued a $209.00 price target on shares of Procter & Gamble in a research note on Thursday, January 23rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $164.00 price objective on shares of Procter & Gamble in a research note on Thursday, January 23rd. Barclays boosted their target price on Procter & Gamble from $155.00 to $159.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Finally, Wells Fargo & Company raised their price target on Procter & Gamble from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $180.53.

Procter & Gamble Stock Performance

Shares of PG opened at $169.53 on Wednesday. The firm has a market capitalization of $397.52 billion, a P/E ratio of 26.99, a PEG ratio of 3.79 and a beta of 0.45. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55. The Procter & Gamble Company has a one year low of $153.52 and a one year high of $180.43. The business has a fifty day moving average of $167.06 and a 200 day moving average of $169.44.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.02. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The business had revenue of $21.88 billion during the quarter, compared to the consensus estimate of $21.66 billion. During the same period in the previous year, the company posted $1.84 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th will be paid a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Friday, January 24th. Procter & Gamble’s dividend payout ratio is presently 64.17%.

Insider Activity

In other news, insider Marc S. Pritchard sold 90,450 shares of the firm’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the sale, the insider now directly owns 172,814 shares in the company, valued at $28,313,845.76. This trade represents a 34.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Balaji Purushothaman sold 12,800 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was 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 of the company’s stock, valued at $2,002,804.35. This represents a 52.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 151,097 shares of company stock valued at $25,635,076 in the last 90 days. Company insiders own 0.18% of the company’s stock.

About Procter & Gamble

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.