Axxcess Wealth Management LLC Decreases Holdings in The Procter & Gamble Company (NYSE:PG)

Axxcess Wealth Management LLC lowered its holdings in The Procter & Gamble Company (NYSE:PG) by 13.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 95,615 shares of the company’s stock after selling 14,760 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Procter & Gamble were worth $16,560,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new position in Procter & Gamble in the second quarter valued at approximately $28,000. Fairway Wealth LLC acquired a new position in shares of Procter & Gamble in the 2nd quarter valued at $29,000. POM Investment Strategies LLC purchased a new position in shares of Procter & Gamble in the 2nd quarter valued at $34,000. Quest Partners LLC acquired a new stake in Procter & Gamble during the 2nd quarter worth $36,000. Finally, Fairfield Financial Advisors LTD purchased a new stake in Procter & Gamble in the second quarter valued at $44,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Trading Up 2.6 %

Shares of Procter & Gamble stock opened at $167.71 on Friday. The Procter & Gamble Company has a 52-week low of $142.50 and a 52-week high of $177.94. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50. The company’s 50-day simple moving average is $171.08 and its 200-day simple moving average is $168.15. The firm has a market cap of $394.96 billion, a price-to-earnings ratio of 28.92, a price-to-earnings-growth ratio of 3.48 and a beta of 0.42.

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

Procter & Gamble Announces Dividend

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

Insiders Place Their Bets

In other Procter & Gamble news, CEO Jon R. Moeller sold 37,240 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $168.89, for a total transaction of $6,289,463.60. Following the transaction, the chief executive officer now directly owns 263,537 shares in the company, valued at approximately $44,508,763.93. 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 this link. In other news, CEO Jon R. Moeller sold 37,240 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $168.89, for a total transaction of $6,289,463.60. Following the completion of the transaction, the chief executive officer now directly owns 263,537 shares of the company’s stock, valued at $44,508,763.93. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jon R. Moeller sold 31,797 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $169.22, for a total transaction of $5,380,688.34. Following the transaction, the chief executive officer now directly owns 300,777 shares of the company’s stock, valued at approximately $50,897,483.94. 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 three months, insiders have sold 313,597 shares of company stock worth $53,268,499. 0.18% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. DZ Bank upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a research report on Thursday, August 29th. Evercore ISI lifted their price target on Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $164.00 price objective on shares of Procter & Gamble in a research note on Monday, October 21st. JPMorgan Chase & Co. raised their target price on shares of Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. Finally, Barclays downgraded shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price target for the company. in a research report on Monday, September 30th. 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. According to data from MarketBeat.com, Procter & Gamble has a consensus rating of “Moderate Buy” and an average target price 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.