Diversify Wealth Management LLC Invests $2.20 Million in The Procter & Gamble Company (NYSE:PG)

Diversify Wealth Management LLC bought a new position in The Procter & Gamble Company (NYSE:PG) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 13,105 shares of the company’s stock, valued at approximately $2,202,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PG. Transcendent Capital Group LLC bought a new stake in shares of Procter & Gamble during the 4th quarter worth approximately $31,000. Ruedi Wealth Management Inc. lifted its stake in shares of Procter & Gamble by 64.7% during the 1st 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 last quarter. POM Investment Strategies LLC bought a new stake in shares of Procter & Gamble during the 2nd quarter worth approximately $34,000. Vima LLC bought a new stake in shares of Procter & Gamble during the 4th quarter worth approximately $35,000. Finally, Quest Partners LLC bought a new stake in shares of Procter & Gamble during the 2nd quarter worth approximately $36,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PG. TD Cowen began coverage on Procter & Gamble in a research note on Tuesday, July 23rd. They set a “buy” rating and a $189.00 price target for the company. DZ Bank upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 target price for the company in a report on Thursday, August 29th. Royal Bank of Canada upped their target price on Procter & Gamble from $157.00 to $164.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 31st. BNP Paribas began coverage on Procter & Gamble in a report on Monday, June 24th. They issued an “outperform” rating and a $187.00 target price for the company. Finally, Dbs Bank cut Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $175.79.

Procter & Gamble Stock Up 0.4 %

Shares of PG stock opened at $174.08 on Friday. The stock’s 50-day simple moving average is $169.38 and its 200-day simple moving average is $165.21. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.53 and a current ratio of 0.73. The firm has a market capitalization of $410.85 billion, a PE ratio of 28.44, a P/E/G ratio of 3.77 and a beta of 0.41. The Procter & Gamble Company has a fifty-two week low of $141.45 and a fifty-two week high of $177.94.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data 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 for 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 company’s revenue was down .1% on a year-over-year basis. During the same period in the prior year, the company earned $1.37 earnings per share. Equities analysts expect that The Procter & Gamble Company will post 6.97 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Friday, July 19th were issued a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a yield of 2.31%. The ex-dividend date was Friday, July 19th. Procter & Gamble’s dividend payout ratio (DPR) is 65.85%.

Insider Buying and Selling

In related news, CEO Jon R. Moeller sold 37,240 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $168.89, for a total transaction of $6,289,463.60. Following the sale, the chief executive officer now directly owns 263,537 shares of the company’s stock, valued at $44,508,763.93. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Jon R. Moeller sold 37,240 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $168.89, for a total transaction of $6,289,463.60. Following the sale, the chief executive officer now directly owns 263,537 shares of the company’s stock, valued at $44,508,763.93. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Balaji Purushothaman sold 8,842 shares of the firm’s 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 sale, the insider now directly owns 11,537 shares in the company, valued at $1,902,451.30. The disclosure for this sale can be found here. Insiders have sold a total of 375,553 shares of company stock valued at $63,829,141 over the last ninety days. Company insiders own 0.17% of the company’s stock.

Procter & Gamble Company 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.