Wealthspire Advisors LLC Cuts Position in The Procter & Gamble Company (NYSE:PG)

Wealthspire Advisors LLC cut its position in The Procter & Gamble Company (NYSE:PG) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,391 shares of the company’s stock after selling 417 shares during the period. Wealthspire Advisors LLC’s holdings in Procter & Gamble were worth $8,475,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of PG. Norges Bank purchased a new position in shares of Procter & Gamble in the 4th quarter valued at $3,956,117,000. Fisher Asset Management LLC grew its holdings in shares of Procter & Gamble by 5.5% during the fourth quarter. Fisher Asset Management LLC now owns 10,552,081 shares of the company’s stock worth $1,546,302,000 after purchasing an additional 554,451 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Procter & Gamble by 2.6% during the fourth quarter. Franklin Resources Inc. now owns 9,571,693 shares of the company’s stock worth $1,402,636,000 after purchasing an additional 246,323 shares in the last quarter. Sanders Capital LLC boosted its position in shares of Procter & Gamble by 3.3% in the 4th quarter. Sanders Capital LLC now owns 6,987,508 shares of the company’s stock valued at $1,023,949,000 after purchasing an additional 223,798 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Procter & Gamble by 9.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,161,507 shares of the company’s stock worth $999,705,000 after buying an additional 545,601 shares during the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada increased their price objective on Procter & Gamble from $157.00 to $164.00 and gave the company a “sector perform” rating in a report on Wednesday, July 31st. Stifel Nicolaus lifted their price objective on shares of Procter & Gamble from $157.00 to $161.00 and gave the company a “hold” rating in a research note on Monday, July 22nd. TD Cowen began coverage on shares of Procter & Gamble in a research note on Tuesday, July 23rd. They set a “buy” rating and a $189.00 target price for the company. Wolfe Research upgraded Procter & Gamble to a “strong-buy” rating in a research report on Friday, August 23rd. Finally, Evercore ISI lifted their target price on Procter & Gamble from $177.00 to $183.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $175.79.

Insider Transactions at Procter & Gamble

In other news, CEO R. Alexandra Keith sold 3,373 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $170.00, for a total value of $573,410.00. Following the sale, the chief executive officer now directly owns 21,513 shares in the company, valued at $3,657,210. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Procter & Gamble news, CEO Ma. Fatima Francisco sold 96,000 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $170.00, for a total transaction of $16,320,000.00. Following the transaction, the chief executive officer now owns 13,721 shares of the company’s stock, valued at approximately $2,332,570. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO R. Alexandra Keith sold 3,373 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $170.00, for a total value of $573,410.00. Following the transaction, the chief executive officer now owns 21,513 shares in the company, valued at $3,657,210. The disclosure for this sale can be found here. Insiders sold a total of 375,553 shares of company stock valued at $63,829,141 in the last ninety days. Corporate insiders own 0.17% of the company’s stock.

Procter & Gamble Price Performance

Shares of NYSE:PG opened at $174.08 on Friday. The Procter & Gamble Company has a 12 month low of $141.45 and a 12 month high of $177.94. The firm has a market capitalization of $410.85 billion, a price-to-earnings ratio of 28.44, a price-to-earnings-growth ratio of 3.77 and a beta of 0.41. The business’s 50 day simple moving average is $169.38 and its 200-day simple moving average is $165.17. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.53.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share 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 analysts’ expectations of $20.69 billion. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the business posted $1.37 earnings per share. As a group, equities analysts forecast that The Procter & Gamble Company will post 6.97 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were given a $1.0065 dividend. The ex-dividend date of this dividend was Friday, July 19th. This represents a $4.03 annualized dividend and a dividend yield of 2.31%. Procter & Gamble’s dividend payout ratio is presently 65.85%.

Procter & Gamble Profile

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.