Independence Bank of Kentucky Purchases 5,759 Shares of The Procter & Gamble Company (NYSE:PG)

Independence Bank of Kentucky grew its stake in The Procter & Gamble Company (NYSE:PG) by 14.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,389 shares of the company’s stock after purchasing an additional 5,759 shares during the period. Procter & Gamble makes up approximately 1.7% of Independence Bank of Kentucky’s portfolio, making the stock its 10th biggest holding. Independence Bank of Kentucky’s holdings in Procter & Gamble were worth $7,861,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Itau Unibanco Holding S.A. acquired a new position in Procter & Gamble during the second quarter worth $28,000. Fairway Wealth LLC acquired a new position in Procter & Gamble during the second quarter worth $29,000. Transcendent Capital Group LLC acquired a new position in Procter & Gamble during the fourth quarter worth $31,000. Ruedi Wealth Management Inc. grew its holdings in Procter & Gamble by 64.7% during the first quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock worth $32,000 after acquiring an additional 77 shares during the period. Finally, POM Investment Strategies LLC acquired a new position in Procter & Gamble during the second quarter worth $34,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Trading Up 0.1 %

Procter & Gamble stock traded up $0.20 during trading on Friday, hitting $169.15. The company’s stock had a trading volume of 462,468 shares, compared to its average volume of 6,652,805. The stock has a market capitalization of $399.22 billion, a price-to-earnings ratio of 28.06, a P/E/G ratio of 3.67 and a beta of 0.41. The stock’s fifty day moving average is $171.45 and its 200 day moving average is $166.66. The Procter & Gamble Company has a 1-year low of $141.66 and a 1-year high of $177.94. 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) last released its earnings results on Tuesday, July 30th. The company reported $1.40 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 analyst estimates of $20.69 billion. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.37 earnings per share. As a group, equities research analysts predict that The Procter & Gamble Company will post 6.97 EPS for the current year.

Procter & Gamble Announces Dividend

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

Insiders Place Their Bets

In other Procter & Gamble news, CFO Andre Schulten sold 13,041 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $170.00, for a total transaction of $2,216,970.00. Following the completion of the sale, the chief financial officer now directly owns 37,208 shares in the company, valued at $6,325,360. 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 available through this hyperlink. In other news, insider Balaji Purushothaman sold 8,842 shares of the 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 completion of the sale, the insider now owns 11,537 shares in the company, valued at approximately $1,902,451.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andre Schulten sold 13,041 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $170.00, for a total value of $2,216,970.00. Following the completion of the sale, the chief financial officer now owns 37,208 shares of the company’s stock, valued at approximately $6,325,360. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 383,194 shares of company stock worth $65,140,718 over the last three months. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on the company. DA Davidson assumed coverage on Procter & Gamble in a research report on Wednesday. They set a “neutral” rating and a $159.00 target price on the stock. Wolfe Research upgraded Procter & Gamble to a “strong-buy” rating in a research report on Friday, August 23rd. DZ Bank upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a research report on Thursday, August 29th. JPMorgan Chase & Co. boosted their target price on Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. Finally, BNP Paribas assumed coverage on Procter & Gamble in a research report on Monday, June 24th. They set an “outperform” rating and a $187.00 target price on the stock. Ten investment 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $175.05.

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.