Wahed Invest LLC Has $9.88 Million Stake in The Procter & Gamble Company (NYSE:PG)

Wahed Invest LLC increased its stake in The Procter & Gamble Company (NYSE:PG) by 9.8% in the third quarter, HoldingsChannel reports. The fund owned 57,021 shares of the company’s stock after purchasing an additional 5,100 shares during the period. Procter & Gamble makes up about 1.7% of Wahed Invest LLC’s portfolio, making the stock its 9th biggest position. Wahed Invest LLC’s holdings in Procter & Gamble were worth $9,876,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wallace Capital Management Inc. boosted its stake in shares of Procter & Gamble by 0.4% during the 3rd quarter. Wallace Capital Management Inc. now owns 25,493 shares of the company’s stock valued at $4,415,000 after purchasing an additional 102 shares in the last quarter. Weaver Consulting Group increased its stake in shares of Procter & Gamble by 3.4% in the 3rd quarter. Weaver Consulting Group now owns 2,741 shares of the company’s stock worth $475,000 after acquiring an additional 90 shares in the last quarter. Weiss Asset Management LP purchased a new stake in shares of Procter & Gamble in the 3rd quarter worth approximately $37,151,000. Texas Capital Bank Wealth Management Services Inc boosted its holdings in Procter & Gamble by 32.0% in the third quarter. Texas Capital Bank Wealth Management Services Inc now owns 7,953 shares of the company’s stock worth $1,377,000 after acquiring an additional 1,930 shares in the last quarter. Finally, SYM FINANCIAL Corp grew its stake in shares of Procter & Gamble by 18.7% in the third quarter. SYM FINANCIAL Corp now owns 2,605 shares of the company’s stock worth $451,000 after acquiring an additional 411 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PG. Royal Bank of Canada reissued a “sector perform” rating and set a $164.00 price target on shares of Procter & Gamble in a research report on Monday, October 21st. Hsbc Global Res raised Procter & Gamble to a “strong-buy” rating in a research report on Friday, October 4th. Evercore ISI lifted their price target on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. DZ Bank raised Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price target on the stock in a report on Thursday, August 29th. Finally, Wolfe Research upgraded shares of Procter & Gamble to a “strong-buy” rating in a research note on Friday, August 23rd. Eight equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $180.45.

Insider Activity at Procter & Gamble

In related news, insider Balaji Purushothaman sold 12,800 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the completion of the sale, the insider now directly owns 11,566 shares in the company, valued at approximately $1,954,538.34. The trade was a 52.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gary A. Coombe sold 47,847 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $179.84, for a total transaction of $8,604,804.48. Following the completion of the sale, the chief executive officer now owns 39,977 shares of the company’s stock, valued at $7,189,463.68. This trade represents a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 83,080 shares of company stock valued at $14,629,038 in the last ninety days. Company insiders own 0.18% of the company’s stock.

Procter & Gamble Trading Up 0.5 %

NYSE PG opened at $176.07 on Friday. The Procter & Gamble Company has a one year low of $142.50 and a one year high of $180.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75. The company has a market capitalization of $414.65 billion, a price-to-earnings ratio of 30.36, a price-to-earnings-growth ratio of 3.78 and a beta of 0.44. The company’s 50-day simple moving average is $170.75 and its two-hundred day simple moving average is $169.34.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Friday, October 18th. The company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.03. The company had revenue of $21.74 billion during the quarter, compared to the consensus estimate of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. Procter & Gamble’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.83 earnings per share. Equities analysts forecast that The Procter & Gamble Company will post 6.97 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were paid a dividend of $1.0065 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.29%. Procter & Gamble’s payout ratio is 69.48%.

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.