Inlet Private Wealth LLC Lowers Holdings in The Procter & Gamble Company (NYSE:PG)

by · The Markets Daily

Inlet Private Wealth LLC lessened its stake in The Procter & Gamble Company (NYSE:PG – Free Report) by 1.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,893 shares of the company’s stock after selling 150 shares during the period. Inlet Private Wealth LLC’s holdings in Procter & Gamble were worth $2,060,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new position in shares of Procter & Gamble during the 2nd quarter worth approximately $28,000. Fairway Wealth LLC acquired a new position in Procter & Gamble during the second quarter worth $29,000. Ruedi Wealth Management Inc. grew its position in shares of Procter & Gamble by 64.7% in the first quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock valued at $32,000 after purchasing an additional 77 shares during the period. POM Investment Strategies LLC purchased a new stake in shares of Procter & Gamble during the second quarter worth about $34,000. Finally, Quest Partners LLC purchased a new position in Procter & Gamble in the 2nd quarter valued at about $36,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Insiders Place Their Bets

In related news, insider Balaji Purushothaman sold 8,842 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $164.90, for a total value of $1,458,045.80. Following the sale, the insider now directly owns 11,537 shares in the company, valued at $1,902,451.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Balaji Purushothaman sold 8,842 shares of Procter & Gamble stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the completion of the sale, the insider now directly owns 11,537 shares in the company, valued at $1,902,451.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO R. Alexandra Keith sold 3,373 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $170.00, for a total transaction of $573,410.00. Following the sale, the chief executive officer now owns 21,513 shares in the company, valued at approximately $3,657,210. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 383,194 shares of company stock worth $65,140,718. Corporate insiders own 0.17% of the company’s stock.

Procter & Gamble Stock Performance

Procter & Gamble stock remained flat at $172.38 during midday trading on Thursday. 2,267,661 shares of the company’s stock traded hands, compared to its average volume of 6,660,716. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.53 and a current ratio of 0.73. The stock has a market cap of $406.84 billion, a PE ratio of 28.19, a price-to-earnings-growth ratio of 3.67 and a beta of 0.41. The Procter & Gamble Company has a 52 week low of $142.50 and a 52 week high of $177.94. The business has a 50-day moving average price of $171.72 and a 200 day moving average price of $167.00.

Procter & Gamble (NYSE:PG – Get Free Report) last released its earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.03. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The business had revenue of $20.53 billion for the quarter, compared to analyst estimates of $20.69 billion. During the same quarter in the previous year, the company posted $1.37 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. On average, equities research analysts forecast that The Procter & Gamble Company will post 6.97 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be issued a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Friday, October 18th. Procter & Gamble’s dividend payout ratio (DPR) is currently 65.69%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Evercore ISI upped their target price on shares of Procter & Gamble from $177.00 to $183.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft boosted their target price on Procter & Gamble from $171.00 to $176.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. DA Davidson reaffirmed a “neutral” rating and issued a $159.00 price target on shares of Procter & Gamble in a report on Tuesday. Dbs Bank lowered Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Citigroup boosted their price target on shares of Procter & Gamble from $177.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Procter & Gamble presently has an average rating of “Moderate Buy” and an average target price of $176.21.

Get Our Latest Research Report on Procter & Gamble

About Procter & Gamble

(Free Report)

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.

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