Biltmore Wealth Management LLC Has $975,000 Stock Position in The Procter & Gamble Company (NYSE:PG)

Biltmore Wealth Management LLC raised its position in shares of The Procter & Gamble Company (NYSE:PG) by 5.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,818 shares of the company’s stock after purchasing an additional 293 shares during the quarter. Procter & Gamble accounts for 0.4% of Biltmore Wealth Management LLC’s investment portfolio, making the stock its 24th biggest holding. Biltmore Wealth Management LLC’s holdings in Procter & Gamble were worth $975,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PG. Geode Capital Management LLC grew its position in Procter & Gamble by 7.0% during the third quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock valued at $9,538,327,000 after purchasing an additional 3,619,466 shares in the last quarter. FMR LLC boosted its stake in shares of Procter & Gamble by 2.7% during the 3rd quarter. FMR LLC now owns 26,556,319 shares of the company’s stock valued at $4,599,554,000 after buying an additional 689,282 shares during the period. Legal & General Group Plc grew its holdings in shares of Procter & Gamble by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 21,632,054 shares of the company’s stock valued at $3,567,556,000 after acquiring an additional 122,190 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Procter & Gamble by 10.2% during the 3rd quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock valued at $3,290,573,000 after acquiring an additional 1,760,214 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Procter & Gamble by 4.7% during the 3rd quarter. Fisher Asset Management LLC now owns 18,380,610 shares of the company’s stock valued at $3,183,522,000 after acquiring an additional 830,476 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on PG. JPMorgan Chase & Co. boosted their price target on shares of Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Evercore ISI boosted 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. Royal Bank of Canada restated a “sector perform” rating and set a $164.00 price target on shares of Procter & Gamble in a report on Monday, October 21st. Wells Fargo & Company lowered their price target on shares of Procter & Gamble from $190.00 to $176.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, Hsbc Global Res upgraded shares of Procter & Gamble to a “strong-buy” rating in a report on Friday, October 4th. Eight investment 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, Procter & Gamble presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.75.

Insiders Place Their Bets

In related news, CEO R. Alexandra Keith sold 1,992 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $170.00, for a total value of $338,640.00. Following the sale, the chief executive officer now owns 13,783 shares of the company’s stock, valued at $2,343,110. The trade was a 12.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Balaji Purushothaman sold 12,800 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 11,566 shares of the company’s stock, valued at approximately $1,954,538.34. This represents a 52.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,439 shares of company stock worth $13,317,460 in the last ninety days. Insiders own 0.18% of the company’s stock.

Procter & Gamble Stock Up 0.6 %

PG opened at $159.82 on Wednesday. The Procter & Gamble Company has a 1-year low of $146.28 and a 1-year high of $180.43. The business has a 50 day moving average of $169.40 and a 200-day moving average of $169.52. The stock has a market capitalization of $376.38 billion, a price-to-earnings ratio of 27.56, a P/E/G ratio of 3.70 and a beta of 0.45. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50.

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

Procter & Gamble Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th will be given a $1.0065 dividend. This represents a $4.03 annualized dividend and a yield of 2.52%. Procter & Gamble’s dividend payout ratio is 69.31%.

About Procter & Gamble

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.