WestHill Financial Advisors Inc. Purchases New Position in The Procter & Gamble Company (NYSE:PG)

WestHill Financial Advisors Inc. purchased a new stake in The Procter & Gamble Company (NYSE:PG) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,826 shares of the company’s stock, valued at approximately $395,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PG. Magellan Asset Management Ltd boosted its position in shares of Procter & Gamble by 566,378.0% during the 2nd quarter. Magellan Asset Management Ltd now owns 13,340,557 shares of the company’s stock worth $1,800,041,000 after acquiring an additional 13,338,202 shares in the last quarter. Sanders Capital LLC acquired a new stake in shares of Procter & Gamble during the 2nd quarter worth approximately $989,563,000. Amundi acquired a new stake in shares of Procter & Gamble during the 2nd quarter worth approximately $588,283,000. Beacon Capital Management Inc. lifted its stake in Procter & Gamble by 27,777.8% in the 2nd quarter. Beacon Capital Management Inc. now owns 2,575,071 shares of the company’s stock valued at $211,568,000 after purchasing an additional 2,565,834 shares during the last quarter. Finally, FMR LLC lifted its stake in Procter & Gamble by 7.5% in the 2nd quarter. FMR LLC now owns 25,132,944 shares of the company’s stock valued at $3,391,188,000 after purchasing an additional 1,746,707 shares during the last quarter. Institutional investors and hedge funds own 62.94% of the company’s stock.

Several brokerages recently commented on PG. Citigroup increased their price objective on shares of Procter & Gamble from $150.00 to $154.00 and gave the company a “neutral” rating in a research note on Monday, August 2nd. Morgan Stanley increased their price objective on shares of Procter & Gamble from $160.00 to $161.00 and gave the company an “overweight” rating in a research note on Tuesday, September 7th. Truist Securities increased their price objective on shares of Procter & Gamble from $140.00 to $145.00 and gave the company a “hold” rating in a research note on Monday, August 2nd. Berenberg Bank reissued a “hold” rating and issued a $146.00 price objective on shares of Procter & Gamble in a research note on Wednesday, October 20th. Finally, Credit Suisse Group raised their price target on shares of Procter & Gamble from $135.00 to $145.00 and gave the company a “neutral” rating in a research note on Monday, August 2nd. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $149.41.

Shares of PG traded down $1.35 during trading hours on Wednesday, hitting $148.09. 105,402 shares of the stock were exchanged, compared to its average volume of 7,668,993. The Procter & Gamble Company has a fifty-two week low of $121.54 and a fifty-two week high of $149.50. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.67 and a quick ratio of 0.49. The business has a 50-day moving average of $143.46 and a 200-day moving average of $140.54. The firm has a market capitalization of $358.37 billion, a P/E ratio of 27.32, a price-to-earnings-growth ratio of 3.70 and a beta of 0.43.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Monday, October 18th. The company reported $1.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.02. Procter & Gamble had a net margin of 18.33% and a return on equity of 31.49%. The company had revenue of $20.34 billion during the quarter, compared to analysts’ expectations of $19.87 billion. During the same period in the prior year, the company posted $1.63 earnings per share. Procter & Gamble’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, analysts forecast that The Procter & Gamble Company will post 5.92 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 15th. Shareholders of record on Friday, October 22nd were issued a $0.8698 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Thursday, October 21st. Procter & Gamble’s payout ratio is 63.62%.

In related news, CEO Gary A. Coombe sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, November 16th. The shares were sold at an average price of $148.07, for a total transaction of $2,221,050.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Nelson Peltz sold 207,000 shares of Procter & Gamble stock in a transaction dated Tuesday, August 31st. The stock was sold at an average price of $142.43, for a total transaction of $29,483,010.00. The disclosure for this sale can be found here. Insiders sold 340,000 shares of company stock valued at $49,033,160 over the last 90 days. Corporate insiders own 0.51% 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 & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment comprises of shave care like female and male blades and razors, pre and post shave products, and appliances.

See Also: Gross Domestic Product (GDP)

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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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