Balentine LLC Has $2.40 Million Holdings in The Procter & Gamble Company (NYSE:PG)

Balentine LLC grew its holdings in The Procter & Gamble Company (NYSE:PG) by 11.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,859 shares of the company’s stock after purchasing an additional 1,393 shares during the period. Balentine LLC’s holdings in Procter & Gamble were worth $2,400,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. HMS Capital Management LLC increased its stake in shares of Procter & Gamble by 1.6% in the third quarter. HMS Capital Management LLC now owns 10,395 shares of the company’s stock worth $1,800,000 after acquiring an additional 165 shares during the last quarter. Fiduciary Family Office LLC raised its stake in shares of Procter & Gamble by 71.6% during the 3rd quarter. Fiduciary Family Office LLC now owns 7,283 shares of the company’s stock worth $1,262,000 after purchasing an additional 3,040 shares in the last quarter. Cornerstone Capital Inc. lifted its stake in Procter & Gamble by 126.1% in the third quarter. Cornerstone Capital Inc. now owns 49,525 shares of the company’s stock valued at $8,578,000 after acquiring an additional 27,620 shares during the last quarter. Falcon Wealth Planning lifted its stake in shares of Procter & Gamble by 6.4% in the 3rd quarter. Falcon Wealth Planning now owns 2,579 shares of the company’s stock valued at $447,000 after purchasing an additional 156 shares during the last quarter. Finally, Austin Private Wealth LLC boosted its stake in shares of Procter & Gamble by 3.0% during the 3rd quarter. Austin Private Wealth LLC now owns 6,567 shares of the company’s stock worth $1,137,000 after acquiring an additional 193 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Procter & Gamble Stock Performance

Procter & Gamble stock opened at $165.79 on Wednesday. The Procter & Gamble Company has a 52-week low of $142.50 and a 52-week high of $177.94. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55. The stock has a fifty day moving average price of $171.45 and a two-hundred day moving average price of $168.18. The firm has a market capitalization of $390.44 billion, a P/E ratio of 28.58, a P/E/G ratio of 3.57 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Friday, October 18th. The company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $21.99 billion. During the same period in the previous year, the business earned $1.83 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, analysts anticipate that The Procter & Gamble Company will post 6.94 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The firm 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 $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date is Friday, October 18th. Procter & Gamble’s dividend payout ratio is currently 69.48%.

Insider Transactions at Procter & Gamble

In related news, CEO Jon R. Moeller sold 72,174 shares of Procter & Gamble stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $171.01, for a total value of $12,342,475.74. Following the completion of the transaction, the chief executive officer now directly owns 263,158 shares of the company’s stock, valued at $45,002,649.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Jon R. Moeller sold 72,174 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $171.01, for a total value of $12,342,475.74. Following the completion of the sale, the chief executive officer now owns 263,158 shares of the company’s stock, valued at $45,002,649.58. 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 is available at the SEC website. Also, insider Susan Street Whaley sold 450 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $169.22, for a total value of $76,149.00. Following the transaction, the insider now directly owns 13,072 shares in the company, valued at approximately $2,212,043.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 385,771 shares of company stock worth $65,610,975. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PG shares. Royal Bank of Canada restated a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a report on Monday, October 21st. Dbs Bank lowered shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Evercore ISI upped their price target on shares of Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Morgan Stanley lifted their price objective on Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Finally, TD Cowen initiated coverage on Procter & Gamble in a report on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 target price on the stock. Nine analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $177.00.

Procter & Gamble 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.