Wedmont Private Capital Acquires 3,080 Shares of The Procter & Gamble Company (NYSE:PG)

Wedmont Private Capital raised its holdings in shares of The Procter & Gamble Company (NYSE:PGGet Rating) by 31.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,884 shares of the company’s stock after acquiring an additional 3,080 shares during the quarter. Wedmont Private Capital’s holdings in Procter & Gamble were worth $1,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Lansing Street Advisors bought a new stake in Procter & Gamble during the 1st quarter valued at $37,000. Western Pacific Wealth Management LP bought a new position in shares of Procter & Gamble in the fourth quarter worth $40,000. Dravo Bay LLC bought a new position in shares of Procter & Gamble in the first quarter worth $40,000. Retirement Group LLC increased its holdings in shares of Procter & Gamble by 48.2% in the first quarter. Retirement Group LLC now owns 283 shares of the company’s stock worth $43,000 after purchasing an additional 92 shares during the period. Finally, Delos Wealth Advisors LLC bought a new position in shares of Procter & Gamble in the fourth quarter worth $50,000. Institutional investors own 63.45% of the company’s stock.

Insider Transactions at Procter & Gamble

In related news, insider Mary Theresa Grabowski sold 10,397 shares of the stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $146.00, for a total value of $1,517,962.00. Following the completion of the transaction, the insider now directly owns 4,353 shares of the company’s stock, valued at $635,538. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Jon R. Moeller sold 169,365 shares of the stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $146.56, for a total value of $24,822,134.40. Following the completion of the transaction, the chief executive officer now directly owns 164,761 shares of the company’s stock, valued at $24,147,372.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mary Theresa Grabowski sold 10,397 shares of the stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $146.00, for a total transaction of $1,517,962.00. Following the completion of the transaction, the insider now directly owns 4,353 shares of the company’s stock, valued at $635,538. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 289,321 shares of company stock worth $42,559,426. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PG shares. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Procter & Gamble from $171.00 to $157.00 and set a “buy” rating on the stock in a report on Tuesday, June 21st. Truist Financial reduced their target price on Procter & Gamble from $175.00 to $160.00 and set a “buy” rating on the stock in a research note on Monday, August 1st. JPMorgan Chase & Co. reduced their target price on Procter & Gamble from $165.00 to $156.00 in a research note on Thursday, July 21st. Barclays reduced their target price on Procter & Gamble from $157.00 to $154.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 2nd. Finally, Evercore ISI set a $170.00 target price on Procter & Gamble in a research note on Monday, June 20th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.93.

Procter & Gamble Stock Performance

Procter & Gamble stock opened at $137.99 on Tuesday. The company has a current ratio of 0.65, a quick ratio of 0.45 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average of $143.26 and a 200-day moving average of $147.58. The firm has a market cap of $329.18 billion, a P/E ratio of 23.75, a P/E/G ratio of 3.55 and a beta of 0.35. The Procter & Gamble Company has a 1-year low of $129.50 and a 1-year high of $165.35.

Procter & Gamble (NYSE:PGGet Rating) last posted its earnings results on Friday, July 29th. The company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The firm had revenue of $19.52 billion for the quarter, compared to analysts’ expectations of $19.41 billion. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.39%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.13 earnings per share. Sell-side analysts expect that The Procter & Gamble Company will post 5.94 EPS for the current year.

Procter & Gamble Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Friday, July 22nd were issued a dividend of $0.913 per share. The ex-dividend date was Thursday, July 21st. This represents a $3.65 dividend on an annualized basis and a dividend yield of 2.65%. Procter & Gamble’s dividend payout ratio is currently 62.82%.

Procter & Gamble Profile

(Get Rating)

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.

See Also

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

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