Innova Wealth Partners Invests $731,000 in The Procter & Gamble Company (NYSE:PG)

Innova Wealth Partners bought a new stake in shares of The Procter & Gamble Company (NYSE:PG) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,359 shares of the company’s stock, valued at approximately $731,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Acorn Creek Capital LLC raised its position in Procter & Gamble by 2.8% during the 3rd quarter. Acorn Creek Capital LLC now owns 2,170 shares of the company’s stock worth $376,000 after buying an additional 59 shares during the last quarter. Patrick M Sweeney & Associates Inc. lifted its position in Procter & Gamble by 1.1% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 5,561 shares of the company’s stock valued at $963,000 after purchasing an additional 59 shares during the period. Traveka Wealth LLC increased its position in Procter & Gamble by 1.7% during the 3rd quarter. Traveka Wealth LLC now owns 3,554 shares of the company’s stock worth $616,000 after purchasing an additional 60 shares during the period. Allen Mooney & Barnes Investment Advisors LLC lifted its holdings in shares of Procter & Gamble by 0.7% in the 3rd quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 8,699 shares of the company’s stock valued at $1,507,000 after buying an additional 61 shares during the period. Finally, Valued Wealth Advisors LLC grew its holdings in Procter & Gamble by 11.2% during the third quarter. Valued Wealth Advisors LLC now owns 605 shares of the company’s stock worth $105,000 after acquiring an additional 61 shares during the period. 65.77% of the stock is owned by hedge funds and other institutional investors.

Procter & Gamble Trading Up 0.5 %

NYSE PG opened at $161.36 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55. The Procter & Gamble Company has a 12 month low of $146.28 and a 12 month high of $180.43. The company has a 50-day moving average of $169.92 and a 200-day moving average of $169.75. The company has a market cap of $380.01 billion, a P/E ratio of 27.82, a P/E/G ratio of 3.70 and a beta of 0.45.

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

Insiders Place Their Bets

In other news, CEO Gary A. Coombe sold 47,847 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $179.84, for a total transaction of $8,604,804.48. Following the transaction, the chief executive officer now owns 39,977 shares of the company’s stock, valued at approximately $7,189,463.68. This trade represents a 54.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO R. Alexandra Keith sold 1,992 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $170.00, for a total value of $338,640.00. Following the sale, the chief executive officer now owns 13,783 shares in the company, valued at $2,343,110. The trade was a 12.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,439 shares of company stock worth $13,317,460 in the last three months. 0.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PG. Barclays cut shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price target on the stock. in a research note on Monday, September 30th. Wells Fargo & Company dropped their target price on shares of Procter & Gamble from $190.00 to $176.00 and set an “overweight” rating for the company in a report on Tuesday. DA Davidson reissued a “buy” rating and set a $209.00 price target on shares of Procter & Gamble in a research note on Friday, December 27th. Evercore ISI raised their price objective on Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $164.00 target price on shares of Procter & Gamble in a research report on Monday, October 21st. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $179.75.

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.