Lake Street Private Wealth LLC Cuts Position in The Procter & Gamble Company (NYSE:PG)

Lake Street Private Wealth LLC lowered its position in shares of The Procter & Gamble Company (NYSE:PG) by 63.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 3,698 shares of the company’s stock after selling 6,524 shares during the quarter. Lake Street Private Wealth LLC’s holdings in Procter & Gamble were worth $641,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new position in Procter & Gamble in the 2nd quarter worth $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. boosted its holdings in 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 acquiring an additional 77 shares during the period. POM Investment Strategies LLC bought a new position in Procter & Gamble during the 2nd quarter worth approximately $34,000. Finally, Quest Partners LLC purchased a new position in Procter & Gamble in the 2nd quarter worth approximately $36,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PG shares. JPMorgan Chase & Co. raised their target price on shares of Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. TD Cowen began coverage on shares of Procter & Gamble in a report on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 price target on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Procter & Gamble from $171.00 to $176.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Citigroup raised their target price on Procter & Gamble from $177.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, Jefferies Financial Group cut Procter & Gamble from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $182.00 to $175.00 in a report on Wednesday, July 24th. Nine analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $177.00.

Insider Transactions at Procter & Gamble

In other news, CEO R. Alexandra Keith sold 1,992 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 13,783 shares in the company, valued at approximately $2,343,110. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO R. Alexandra Keith sold 1,992 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $170.00, for a total transaction of $338,640.00. Following the completion of the transaction, the chief executive officer now directly owns 13,783 shares of the company’s stock, valued at $2,343,110. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andre Schulten sold 13,041 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $170.00, for a total transaction of $2,216,970.00. Following the sale, the chief financial officer now owns 37,208 shares of the company’s stock, valued at approximately $6,325,360. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 385,186 shares of company stock valued at $65,479,358 in the last quarter. 0.17% of the stock is owned by insiders.

Procter & Gamble Stock Down 0.1 %

Shares of Procter & Gamble stock opened at $169.58 on Thursday. The Procter & Gamble Company has a 1 year low of $142.50 and a 1 year high of $177.94. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.53. The company has a 50-day moving average of $171.88 and a 200 day moving average of $167.45. The firm has a market cap of $400.23 billion, a price-to-earnings ratio of 27.71, a PEG ratio of 3.72 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last released its earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.03. The firm had revenue of $21.74 billion during the quarter, compared to analyst estimates of $21.99 billion. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The business’s revenue was down .6% on a year-over-year basis. During the same period last year, the business earned $1.83 earnings per share. As a group, sell-side analysts anticipate that The Procter & Gamble Company will post 6.98 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a dividend of $1.0065 per share. The ex-dividend date is Friday, October 18th. This represents a $4.03 annualized dividend and a dividend yield of 2.37%. Procter & Gamble’s payout ratio is presently 65.69%.

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.