JGP Wealth Management LLC Has $8.80 Million Holdings in The Procter & Gamble Company (NYSE:PG)

JGP Wealth Management LLC boosted its position in shares of The Procter & Gamble Company (NYSE:PG) by 1.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 50,814 shares of the company’s stock after purchasing an additional 683 shares during the period. JGP Wealth Management LLC’s holdings in Procter & Gamble were worth $8,801,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Strong Tower Advisory Services lifted its position in Procter & Gamble by 20.6% during the third quarter. Strong Tower Advisory Services now owns 10,771 shares of the company’s stock valued at $1,866,000 after buying an additional 1,843 shares during the period. Jessup Wealth Management Inc raised its stake in Procter & Gamble by 97.9% in the third quarter. Jessup Wealth Management Inc now owns 58,285 shares of the company’s stock valued at $10,095,000 after buying an additional 28,840 shares during the last quarter. Virginia Wealth Management Group Inc. grew its holdings in Procter & Gamble by 26.7% during the third quarter. Virginia Wealth Management Group Inc. now owns 24,198 shares of the company’s stock worth $4,191,000 after acquiring an additional 5,101 shares during the period. Independence Bank of Kentucky grew its holdings in Procter & Gamble by 14.5% in the third quarter. Independence Bank of Kentucky now owns 45,389 shares of the company’s stock valued at $7,861,000 after purchasing an additional 5,759 shares during the period. Finally, Worth Asset Management LLC purchased a new stake in Procter & Gamble in the third quarter valued at $207,000. 65.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PG has been the subject of a number of analyst reports. Wolfe Research upgraded shares of Procter & Gamble to a “strong-buy” rating in a research report on Friday, August 23rd. Hsbc Global Res raised Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. TD Cowen initiated coverage on Procter & Gamble in a report on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 price target on the stock. JPMorgan Chase & Co. lifted their target price on Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Finally, Evercore ISI boosted their price objective on Procter & Gamble from $177.00 to $183.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Ten analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.05.

Procter & Gamble Stock Up 0.8 %

Shares of PG traded up $1.27 during mid-day trading on Friday, hitting $170.22. The company’s stock had a trading volume of 2,062,517 shares, compared to its average volume of 6,661,746. The firm has a market capitalization of $401.74 billion, a price-to-earnings ratio of 28.27, a PEG ratio of 3.67 and a beta of 0.41. The Procter & Gamble Company has a 52-week low of $141.66 and a 52-week high of $177.94. The company’s 50-day moving average is $171.45 and its 200-day moving average is $166.66. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.51.

Procter & Gamble (NYSE:PG) last announced its quarterly 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. The business had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $20.69 billion. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The business’s revenue was down .1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.37 EPS. 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. Stockholders of record on Friday, October 18th will be issued a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Friday, October 18th. Procter & Gamble’s payout ratio is presently 66.94%.

Insider Buying and Selling at Procter & Gamble

In related news, insider Susan Street Whaley sold 634 shares of the business’s stock in a transaction dated 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 owns 19,341 shares in the company, valued at $3,319,882.65. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 owns 19,341 shares in the company, valued at approximately $3,319,882.65. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO R. Alexandra Keith sold 3,373 shares of the 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 383,194 shares of company stock valued at $65,140,718. 0.18% of the stock is currently owned by company insiders.

About Procter & Gamble

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.