Miracle Mile Advisors LLC Has $20.11 Million Position in The Procter & Gamble Company (NYSE:PG)

Miracle Mile Advisors LLC grew its position in The Procter & Gamble Company (NYSE:PG) by 80.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 119,940 shares of the company’s stock after purchasing an additional 53,607 shares during the period. Miracle Mile Advisors LLC’s holdings in Procter & Gamble were worth $20,108,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new position in Procter & Gamble in the second quarter valued at approximately $28,000. Fairway Wealth LLC acquired a new stake in shares of Procter & Gamble during the second quarter worth $29,000. RPg Family Wealth Advisory LLC bought a new stake in Procter & Gamble in the 3rd quarter valued at $33,000. Quest Partners LLC acquired a new position in Procter & Gamble in the 2nd quarter worth $36,000. Finally, Fairfield Financial Advisors LTD bought a new position in Procter & Gamble during the 2nd quarter worth about $44,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Trading Up 0.2 %

PG stock opened at $158.86 on Tuesday. The stock has a market cap of $374.12 billion, a price-to-earnings ratio of 27.39, a price-to-earnings-growth ratio of 3.70 and a beta of 0.45. The company has a fifty day moving average price of $169.52 and a two-hundred day moving average price of $169.55. The Procter & Gamble Company has a one year low of $146.28 and a one year high of $180.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55.

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

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 value 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 filing with the SEC, which is accessible through this link. Also, CEO R. Alexandra Keith sold 1,992 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $170.00, for a total value of $338,640.00. Following the transaction, the chief executive officer now owns 13,783 shares in the company, valued at approximately $2,343,110. This trade represents a 12.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,439 shares of company stock worth $13,317,460 in the last ninety days. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PG shares. JPMorgan Chase & Co. upped their price objective on Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $164.00 price target on shares of Procter & Gamble in a research report on Monday, October 21st. Barclays downgraded shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price objective on the stock. in a report on Monday, September 30th. Evercore ISI increased their target price on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Finally, Piper Sandler initiated coverage on shares of Procter & Gamble in a research note on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $179.75.

Procter & Gamble Company Profile

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.