Resonant Capital Advisors LLC Lowers Holdings in The Procter & Gamble Company (NYSE:PG)

Resonant Capital Advisors LLC cut its holdings in The Procter & Gamble Company (NYSE:PGGet Rating) by 2.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,037 shares of the company’s stock after selling 428 shares during the period. Resonant Capital Advisors LLC’s holdings in Procter & Gamble were worth $2,306,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Lansing Street Advisors bought a new stake in Procter & Gamble in the 1st quarter worth approximately $37,000. Western Pacific Wealth Management LP bought a new position in shares of Procter & Gamble during the 4th quarter valued at approximately $40,000. Dravo Bay LLC bought a new position in shares of Procter & Gamble during the 1st quarter valued at approximately $40,000. Retirement Group LLC increased its position in shares of Procter & Gamble by 48.2% during the 1st quarter. Retirement Group LLC now owns 283 shares of the company’s stock valued at $43,000 after purchasing an additional 92 shares during the last quarter. Finally, Delos Wealth Advisors LLC bought a new position in shares of Procter & Gamble during the 4th quarter valued at approximately $50,000. Institutional investors own 63.45% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Sundar G. Raman sold 1,599 shares of the company’s stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $145.12, for a total transaction of $232,046.88. Following the completion of the sale, the chief executive officer now directly owns 4,002 shares in the company, valued at approximately $580,770.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Sundar G. Raman sold 1,599 shares of the company’s stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $145.12, for a total transaction of $232,046.88. Following the completion of the sale, the chief executive officer now directly owns 4,002 shares in the company, valued at approximately $580,770.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Susan Street Whaley sold 907 shares of the company’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $149.33, for a total value of $135,442.31. Following the sale, the insider now owns 6,253 shares of the company’s stock, valued at $933,760.49. The disclosure for this sale can be found here. In the last ninety days, insiders sold 289,321 shares of company stock worth $42,559,426. 0.26% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PG has been the topic of several analyst reports. UBS Group cut their target price on Procter & Gamble to $153.00 in a research report on Friday, July 22nd. StockNews.com downgraded Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Wednesday, September 14th. Barclays cut their target price on Procter & Gamble from $157.00 to $154.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 2nd. JPMorgan Chase & Co. dropped their price objective on Procter & Gamble from $165.00 to $156.00 in a report on Thursday, July 21st. Finally, Evercore ISI set a $170.00 price objective on Procter & Gamble in a report on Monday, June 20th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.93.

Procter & Gamble Price Performance

Shares of PG stock opened at $135.73 on Thursday. The Procter & Gamble Company has a twelve month low of $129.50 and a twelve month high of $165.35. The stock has a market capitalization of $323.78 billion, a price-to-earnings ratio of 23.36, a P/E/G ratio of 3.55 and a beta of 0.35. The stock has a fifty day simple moving average of $142.76 and a two-hundred day simple moving average of $147.31. The company has a current ratio of 0.65, a quick ratio of 0.45 and a debt-to-equity ratio of 0.50.

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

Procter & Gamble Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Friday, July 22nd were issued a $0.913 dividend. This represents a $3.65 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend was Thursday, July 21st. Procter & Gamble’s dividend payout ratio is 62.82%.

Procter & Gamble Profile

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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

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

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