BKM Wealth Management LLC Sells 7,620 Shares of The Procter & Gamble Company (NYSE:PG)

BKM Wealth Management LLC lowered its position in The Procter & Gamble Company (NYSE:PG) by 43.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,014 shares of the company’s stock after selling 7,620 shares during the period. BKM Wealth Management LLC’s holdings in Procter & Gamble were worth $1,734,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PG. Parcion Private Wealth LLC boosted its stake in Procter & Gamble by 9.1% in the 3rd quarter. Parcion Private Wealth LLC now owns 48,914 shares of the company’s stock worth $8,472,000 after purchasing an additional 4,073 shares in the last quarter. Outlook Wealth Advisors LLC grew its stake in shares of Procter & Gamble by 2.5% in the third quarter. Outlook Wealth Advisors LLC now owns 7,423 shares of the company’s stock worth $1,286,000 after acquiring an additional 179 shares during the period. Signet Investment Advisory Group Inc. raised its holdings in shares of Procter & Gamble by 0.9% during the third quarter. Signet Investment Advisory Group Inc. now owns 22,246 shares of the company’s stock valued at $3,853,000 after purchasing an additional 196 shares during the last quarter. Convergence Financial LLC lifted its position in Procter & Gamble by 15.0% during the third quarter. Convergence Financial LLC now owns 11,772 shares of the company’s stock valued at $2,039,000 after purchasing an additional 1,534 shares during the period. Finally, Elwood & Goetz Wealth Advisory Group LLC boosted its holdings in Procter & Gamble by 51.1% in the third quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 3,164 shares of the company’s stock worth $548,000 after purchasing an additional 1,070 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Wall Street Analyst Weigh In

PG has been the topic of a number of research reports. Citigroup raised their price target on Procter & Gamble from $177.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Piper Sandler began coverage on shares of Procter & Gamble in a research report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price target for the company. Dbs Bank cut shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. Stifel Nicolaus lifted their target price on Procter & Gamble from $157.00 to $161.00 and gave the company a “hold” rating in a research report on Monday, July 22nd. Finally, Jefferies Financial Group downgraded Procter & Gamble from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $182.00 to $175.00 in a research note on Wednesday, July 24th. Nine investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $177.00.

Procter & Gamble Stock Performance

Shares of PG stock opened at $168.22 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The company has a market cap of $396.16 billion, a PE ratio of 29.00, a PEG ratio of 3.67 and a beta of 0.41. The Procter & Gamble Company has a 12-month low of $142.50 and a 12-month high of $177.94. The business’s fifty day simple moving average is $171.93 and its 200-day simple moving average is $167.55.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Friday, October 18th. The company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.90 by $0.03. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The firm had revenue of $21.74 billion during the quarter, compared to analyst estimates of $21.99 billion. During the same period last year, the firm posted $1.83 EPS. Procter & Gamble’s revenue was down .6% on a year-over-year basis. Analysts expect that The Procter & Gamble Company will post 6.94 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.39%. Procter & Gamble’s payout ratio is currently 69.48%.

Insider Activity

In related news, CEO R. Alexandra Keith sold 3,373 shares of Procter & Gamble 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 completion of the transaction, the chief executive officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO R. Alexandra Keith sold 3,373 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andre Schulten sold 13,041 shares of the 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 sale, the chief financial officer now directly owns 37,208 shares in the company, valued at approximately $6,325,360. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 397,986 shares of company stock valued at $67,642,430 in the last quarter. 0.18% of the stock is currently owned by company insiders.

Procter & Gamble Company Profile

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.