Commonwealth Financial Services LLC Boosts Holdings in The Procter & Gamble Company (NYSE:PG)

Commonwealth Financial Services LLC grew its position in shares of The Procter & Gamble Company (NYSE:PG) by 0.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,792 shares of the company’s stock after buying an additional 71 shares during the quarter. Commonwealth Financial Services LLC’s holdings in Procter & Gamble were worth $2,387,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in PG. Itau Unibanco Holding S.A. purchased a new stake in shares of Procter & Gamble during the 2nd quarter worth $28,000. Fairway Wealth LLC acquired a new stake in shares of Procter & Gamble in the second quarter valued at about $29,000. Ruedi Wealth Management Inc. boosted its holdings in Procter & Gamble by 64.7% during the first quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock worth $32,000 after buying an additional 77 shares in the last quarter. POM Investment Strategies LLC acquired a new position in Procter & Gamble during the second quarter worth about $34,000. Finally, Quest Partners LLC purchased a new position in Procter & Gamble in the second quarter valued at about $36,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Procter & Gamble Trading Down 0.3 %

PG traded down $0.46 during midday trading on Thursday, hitting $169.12. The company’s stock had a trading volume of 480,334 shares, compared to its average volume of 6,651,973. The firm has a market cap of $399.15 billion, a P/E ratio of 27.71, a PEG ratio of 3.72 and a beta of 0.41. The Procter & Gamble Company has a 52-week low of $142.50 and a 52-week high of $177.94. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $171.88 and a two-hundred day moving average price of $167.45.

Procter & Gamble (NYSE:PG) last released its earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. The firm 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 17.71% and a return on equity of 33.46%. Procter & Gamble’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.83 earnings per share. On average, research analysts anticipate that The Procter & Gamble Company will post 6.98 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be given a $1.0065 dividend. This represents a $4.03 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Friday, October 18th. Procter & Gamble’s dividend payout ratio (DPR) is currently 65.69%.

Insider Activity at Procter & Gamble

In other news, 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 transaction, the insider now directly owns 11,537 shares in the company, valued at $1,902,451.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Susan Street Whaley sold 450 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total transaction of $76,149.00. Following the completion of the sale, the insider now directly owns 13,072 shares of the company’s stock, valued at approximately $2,212,043.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Balaji Purushothaman sold 8,842 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $164.90, for a total value of $1,458,045.80. Following the completion of the transaction, the insider now directly owns 11,537 shares in the company, valued at $1,902,451.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 385,186 shares of company stock worth $65,479,358. 0.17% of the stock is owned by insiders.

Analysts Set New Price Targets

PG has been the subject of several research analyst reports. Dbs Bank downgraded Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Jefferies Financial Group cut Procter & Gamble from a “buy” rating to a “hold” rating and dropped their price target for the company from $182.00 to $175.00 in a research report on Wednesday, July 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $164.00 price objective on shares of Procter & Gamble in a research report on Monday. Piper Sandler initiated coverage on shares of Procter & Gamble in a report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price for the company. Finally, DA Davidson upped their price target on shares of Procter & Gamble from $159.00 to $160.00 and gave the company a “neutral” rating in a report on Monday. Nine analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $177.00.

About Procter & Gamble

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.