Asset Dedication LLC Lowers Stock Position in The Procter & Gamble Company (NYSE:PG)

Asset Dedication LLC lessened its holdings in The Procter & Gamble Company (NYSE:PG) by 12.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,443 shares of the company’s stock after selling 5,082 shares during the quarter. Asset Dedication LLC’s holdings in Procter & Gamble were worth $5,966,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. CFM Wealth Partners LLC grew its position in Procter & Gamble by 1.7% during the 3rd quarter. CFM Wealth Partners LLC now owns 7,178 shares of the company’s stock valued at $1,165,000 after purchasing an additional 122 shares during the last quarter. Acorn Creek Capital LLC increased its holdings in shares of Procter & Gamble by 2.8% in the 3rd quarter. Acorn Creek Capital LLC now owns 2,170 shares of the company’s stock worth $376,000 after purchasing an additional 59 shares in the last quarter. ERn Financial LLC raised its stake in shares of Procter & Gamble by 8.6% in the third quarter. ERn Financial LLC now owns 4,556 shares of the company’s stock worth $789,000 after purchasing an additional 360 shares during the last quarter. Foster Victor Wealth Advisors LLC lifted its holdings in shares of Procter & Gamble by 3.9% during the third quarter. Foster Victor Wealth Advisors LLC now owns 42,138 shares of the company’s stock valued at $7,133,000 after purchasing an additional 1,593 shares in the last quarter. Finally, PFG Advisors increased its holdings in Procter & Gamble by 38.9% in the 3rd quarter. PFG Advisors now owns 50,613 shares of the company’s stock worth $8,766,000 after buying an additional 14,166 shares in the last quarter. Institutional investors own 65.77% of the company’s stock.

Procter & Gamble Price Performance

Procter & Gamble stock opened at $173.61 on Wednesday. The Procter & Gamble Company has a 52-week low of $142.50 and a 52-week high of $177.94. The company has a market cap of $409.74 billion, a price-to-earnings ratio of 28.37, a PEG ratio of 3.67 and a beta of 0.41. The firm’s fifty day moving average is $171.68 and its 200 day moving average is $166.96. The company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 0.51.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.03. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The firm had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $20.69 billion. During the same quarter last year, the firm earned $1.37 EPS. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. Sell-side analysts forecast that The Procter & Gamble Company will post 6.97 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a yield of 2.32%. Procter & Gamble’s dividend payout ratio is presently 65.69%.

Wall Street Analysts Forecast Growth

PG has been the subject of a number of research reports. Stifel Nicolaus boosted their target price on shares of Procter & Gamble from $157.00 to $161.00 and gave the company a “hold” rating in a research note on Monday, July 22nd. BNP Paribas assumed coverage on Procter & Gamble in a research note on Monday, June 24th. They set an “outperform” rating and a $187.00 price target for the company. Jefferies Financial Group cut shares of Procter & Gamble from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $182.00 to $175.00 in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Procter & Gamble from $171.00 to $176.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, Wolfe Research upgraded shares of Procter & Gamble to a “strong-buy” rating in a research note on Friday, August 23rd. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $176.21.

Insiders Place Their Bets

In related news, insider Balaji Purushothaman sold 8,842 shares of Procter & Gamble stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the completion of the transaction, the insider now directly owns 11,537 shares of the company’s stock, valued at approximately $1,902,451.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Balaji Purushothaman sold 8,842 shares of the stock in a transaction that occurred on 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 approximately $1,902,451.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jon R. Moeller sold 37,240 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $168.89, for a total value of $6,289,463.60. Following the completion of the transaction, the chief executive officer now directly owns 263,537 shares in the company, valued at $44,508,763.93. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 383,194 shares of company stock valued at $65,140,718 over the last three months. 0.17% of the stock is owned by company insiders.

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.