State of Alaska Department of Revenue Purchases 7,425 Shares of The Procter & Gamble Company (NYSE:PG)

by · The Markets Daily

State of Alaska Department of Revenue raised its position in The Procter & Gamble Company (NYSE:PG – Free Report) by 2.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 285,968 shares of the company’s stock after acquiring an additional 7,425 shares during the quarter. Procter & Gamble makes up 0.5% of State of Alaska Department of Revenue’s portfolio, making the stock its 23rd biggest holding. State of Alaska Department of Revenue’s holdings in Procter & Gamble were worth $49,528,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Acorn Creek Capital LLC boosted its stake in shares of Procter & Gamble by 2.8% in the 3rd quarter. Acorn Creek Capital LLC now owns 2,170 shares of the company’s stock valued at $376,000 after buying an additional 59 shares during the period. Patrick M Sweeney & Associates Inc. raised its stake in shares of Procter & Gamble by 1.1% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 5,561 shares of the company’s stock worth $963,000 after purchasing an additional 59 shares during the last quarter. Alera Investment Advisors LLC boosted its holdings in shares of Procter & Gamble by 1.2% in the first quarter. Alera Investment Advisors LLC now owns 5,007 shares of the company’s stock valued at $812,000 after acquiring an additional 60 shares in the last quarter. Hudson Value Partners LLC increased its position in Procter & Gamble by 4.1% during the 2nd quarter. Hudson Value Partners LLC now owns 1,516 shares of the company’s stock worth $250,000 after purchasing an additional 60 shares during the period. Finally, Traveka Wealth LLC raised its position in Procter & Gamble by 1.7% in the third quarter. Traveka Wealth LLC now owns 3,554 shares of the company’s stock worth $616,000 after acquiring an additional 60 shares in the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PG. Evercore ISI raised their price target on Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. lifted their price objective on Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Procter & Gamble from $171.00 to $176.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Stifel Nicolaus lifted their price target on shares of Procter & Gamble from $157.00 to $161.00 and gave the company a “hold” rating in a research report on Monday, July 22nd. Finally, Wolfe Research upgraded Procter & Gamble to a “strong-buy” rating in a report on Friday, August 23rd. Nine analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Procter & Gamble has an average rating of “Moderate Buy” and a consensus target price of $177.00.

Read Our Latest Stock Report on Procter & Gamble

Insider Buying and Selling

In other news, insider Balaji Purushothaman sold 8,842 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was 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 of the company’s stock, valued at approximately $1,902,451.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Procter & Gamble news, CEO Jon R. Moeller sold 37,240 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $168.89, for a total value of $6,289,463.60. Following the sale, the chief executive officer now directly owns 263,537 shares in the company, valued at $44,508,763.93. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Balaji Purushothaman sold 8,842 shares of the company’s 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 transaction, the insider now directly owns 11,537 shares of the company’s stock, valued at $1,902,451.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 397,986 shares of company stock worth $67,642,430 in the last quarter. 0.18% of the stock is currently owned by company insiders.

Procter & Gamble Price Performance

NYSE PG opened at $168.22 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a 12-month low of $142.50 and a 12-month high of $177.94. The company has a 50 day moving average price of $171.93 and a two-hundred day moving average price of $167.62. The stock has a market capitalization of $396.16 billion, a PE ratio of 29.00, a price-to-earnings-growth ratio of 3.67 and a beta of 0.41.

Procter & Gamble (NYSE:PG – Get Free Report) last posted its earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The firm had revenue of $21.74 billion during the quarter, compared to analyst estimates of $21.99 billion. During the same period in the previous year, the company earned $1.83 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities analysts predict that The Procter & Gamble Company will post 6.94 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be paid a $1.0065 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a yield of 2.39%. Procter & Gamble’s payout ratio is presently 69.48%.

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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