The Procter & Gamble Company (NYSE:PG) Shares Bought by Carmel Capital Partners LLC

Carmel Capital Partners LLC grew its stake in shares of The Procter & Gamble Company (NYSE:PG) by 8.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,082 shares of the company’s stock after acquiring an additional 165 shares during the quarter. Carmel Capital Partners LLC’s holdings in Procter & Gamble were worth $361,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new stake in Procter & Gamble during the 2nd quarter worth approximately $28,000. Fairway Wealth LLC acquired a new stake in Procter & Gamble during the 2nd quarter worth approximately $29,000. POM Investment Strategies LLC acquired a new stake in Procter & Gamble during the 2nd quarter worth approximately $34,000. Quest Partners LLC acquired a new stake in Procter & Gamble during the 2nd quarter worth approximately $36,000. Finally, Fairfield Financial Advisors LTD acquired a new stake in Procter & Gamble during the 2nd quarter worth approximately $44,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Insider Activity at Procter & Gamble

In related news, insider Balaji Purushothaman sold 12,800 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $168.99, for a total value of $2,163,072.00. Following the sale, the insider now owns 11,566 shares of the company’s stock, valued at $1,954,538.34. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Susan Street Whaley sold 450 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 13,072 shares in the company, valued at approximately $2,212,043.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Balaji Purushothaman sold 12,800 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $168.99, for a total value of $2,163,072.00. Following the completion of the transaction, the insider now owns 11,566 shares in the company, valued at approximately $1,954,538.34. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 313,597 shares of company stock valued at $53,268,499 over the last quarter. 0.18% of the stock is owned by company insiders.

Procter & Gamble Stock Performance

PG opened at $167.73 on Friday. The stock has a 50-day moving average of $171.08 and a 200-day moving average of $168.15. The Procter & Gamble Company has a 52-week low of $142.50 and a 52-week high of $177.94. 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 cap of $395.01 billion, a PE ratio of 28.92, a price-to-earnings-growth ratio of 3.48 and a beta of 0.42.

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 for the quarter, compared to analyst estimates of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The company’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $1.83 EPS. As a group, equities research analysts forecast that The Procter & Gamble Company will post 6.94 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a dividend of $1.0065 per share. The ex-dividend date is Friday, October 18th. This represents a $4.03 annualized dividend and a dividend yield of 2.40%. Procter & Gamble’s payout ratio is 69.31%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PG. Jefferies Financial Group downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating and lowered their price objective for the company from $182.00 to $175.00 in a research report on Wednesday, July 24th. Wolfe Research upgraded Procter & Gamble to a “strong-buy” rating in a research note on Friday, August 23rd. Hsbc Global Res raised Procter & Gamble to a “strong-buy” rating in a research report on Friday, October 4th. Stifel Nicolaus increased their target price on Procter & Gamble from $157.00 to $161.00 and gave the stock a “hold” rating in a research report on Monday, July 22nd. Finally, Piper Sandler started coverage on Procter & Gamble in a report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price target on the stock. Nine analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Procter & Gamble currently has an average rating of “Moderate Buy” and a consensus price target of $177.00.

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.