The Procter & Gamble Company (NYSE:PG) Shares Bought by Cerro Pacific Wealth Advisors LLC

by · The Markets Daily

Cerro Pacific Wealth Advisors LLC increased its stake in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 9.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,986 shares of the company’s stock after buying an additional 1,000 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in Procter & Gamble were worth $1,977,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PG. Itau Unibanco Holding S.A. acquired a new position in shares of Procter & Gamble during the second quarter worth about $28,000. Fairway Wealth LLC acquired a new stake in shares of Procter & Gamble in the second quarter valued at about $29,000. Transcendent Capital Group LLC acquired a new position in Procter & Gamble during the fourth quarter worth about $31,000. Ruedi Wealth Management Inc. increased its holdings in 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 buying an additional 77 shares in the last quarter. Finally, POM Investment Strategies LLC acquired a new stake in shares of Procter & Gamble during the 2nd quarter valued at approximately $34,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on PG. Jefferies Financial Group cut Procter & Gamble from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $182.00 to $175.00 in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Procter & Gamble from $171.00 to $176.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Piper Sandler began coverage on shares of Procter & Gamble in a report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price for the company. Royal Bank of Canada increased their price target on shares of Procter & Gamble from $157.00 to $164.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 31st. Finally, TD Cowen began coverage on shares of Procter & Gamble in a research note on Tuesday, July 23rd. They set a “buy” rating and a $189.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $175.05.

Get Our Latest Stock Analysis on Procter & Gamble

Insider Transactions at Procter & Gamble

In other Procter & Gamble news, insider Susan Street Whaley sold 634 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $108,826.10. Following the completion of the transaction, the insider now directly owns 19,341 shares of the company’s stock, valued at $3,319,882.65. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Jon R. Moeller sold 7,007 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $1,202,751.55. Following the sale, the chief executive officer now directly owns 269,172 shares of the company’s stock, valued at $46,203,373.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Susan Street Whaley sold 634 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total transaction of $108,826.10. Following the transaction, the insider now directly owns 19,341 shares of the company’s stock, valued at approximately $3,319,882.65. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 383,194 shares of company stock valued at $65,140,718. Corporate insiders own 0.18% of the company’s stock.

Procter & Gamble Trading Down 0.2 %

NYSE PG opened at $168.95 on Friday. The Procter & Gamble Company has a one year low of $141.66 and a one year high of $177.94. The company’s 50 day moving average price is $171.45 and its 200 day moving average price is $166.66. The firm has a market capitalization of $398.75 billion, a price-to-earnings ratio of 28.06, a PEG ratio of 3.67 and a beta of 0.41. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.53 and a current ratio of 0.73.

Procter & Gamble (NYSE:PG – Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.03. The firm had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $20.69 billion. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.37 EPS. On average, sell-side analysts predict that The Procter & Gamble Company will post 6.97 EPS for the current year.

Procter & Gamble Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a $1.0065 dividend. This represents a $4.03 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Friday, October 18th. Procter & Gamble’s dividend payout ratio (DPR) is 66.94%.

Procter & Gamble Profile

(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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