Sound Income Strategies LLC increased its position in shares of Procter & Gamble Co (NYSE:PG) by 26.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 18,973 shares of the company’s stock after purchasing an additional 3,972 shares during the period. Procter & Gamble comprises approximately 0.7% of Sound Income Strategies LLC’s holdings, making the stock its 17th largest position. Sound Income Strategies LLC’s holdings in Procter & Gamble were worth $2,080,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SeaBridge Investment Advisors LLC purchased a new position in Procter & Gamble in the fourth quarter valued at about $36,000. Smart Portfolios LLC increased its holdings in Procter & Gamble by 48.0% in the fourth quarter. Smart Portfolios LLC now owns 450 shares of the company’s stock valued at $41,000 after buying an additional 146 shares in the last quarter. Intercontinental Wealth Advisors LLC purchased a new position in Procter & Gamble in the fourth quarter valued at about $62,000. Stevens First Principles Investment Advisors increased its holdings in Procter & Gamble by 239.8% in the fourth quarter. Stevens First Principles Investment Advisors now owns 683 shares of the company’s stock valued at $63,000 after buying an additional 482 shares in the last quarter. Finally, Advocacy Wealth Management Services LLC increased its holdings in Procter & Gamble by 301.3% in the second quarter. Advocacy Wealth Management Services LLC now owns 602 shares of the company’s stock valued at $66,000 after buying an additional 452 shares in the last quarter. 62.17% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Steven D. Bishop sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $105.38, for a total transaction of $3,161,400.00. Following the sale, the insider now owns 75,031 shares in the company, valued at $7,906,766.78. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mary Theresa Grabowski sold 5,200 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $119.10, for a total transaction of $619,320.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 247,335 shares of company stock worth $26,476,375. 1.84% of the stock is owned by company insiders.
Several research firms have recently commented on PG. Credit Suisse Group increased their price target on shares of Procter & Gamble from $108.00 to $117.00 and gave the company a “neutral” rating in a research report on Wednesday. Royal Bank of Canada reiterated a “neutral” rating and issued a $89.00 price target on shares of Procter & Gamble in a research report on Tuesday, July 30th. DZ Bank reiterated a “sell” rating on shares of Procter & Gamble in a research report on Wednesday, April 24th. Goldman Sachs Group upgraded shares of Procter & Gamble from a “neutral” rating to a “buy” rating and increased their price target for the company from $114.00 to $125.00 in a research report on Thursday, June 27th. Finally, TheStreet lowered shares of Procter & Gamble from an “a-” rating to a “c+” rating in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $108.15.
NYSE PG traded down $0.29 during mid-day trading on Friday, reaching $116.44. 12,265,590 shares of the stock were exchanged, compared to its average volume of 7,934,244. Procter & Gamble Co has a 1-year low of $78.49 and a 1-year high of $121.76. The firm’s fifty day simple moving average is $113.31. The firm has a market capitalization of $292.80 billion, a PE ratio of 25.76, a PEG ratio of 3.38 and a beta of 0.45. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.75 and a quick ratio of 0.60.
Procter & Gamble (NYSE:PG) last announced its earnings results on Tuesday, July 30th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.04. Procter & Gamble had a net margin of 5.76% and a return on equity of 22.92%. The firm had revenue of $17.09 billion for the quarter, compared to analyst estimates of $16.86 billion. During the same quarter last year, the business earned $0.94 earnings per share. Procter & Gamble’s revenue was up 3.6% compared to the same quarter last year. On average, analysts forecast that Procter & Gamble Co will post 4.84 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Friday, July 19th will be given a dividend of $0.7459 per share. The ex-dividend date is Thursday, July 18th. This represents a $2.98 dividend on an annualized basis and a yield of 2.56%. Procter & Gamble’s dividend payout ratio (DPR) is currently 65.93%.
Procter & Gamble Company Profile
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.
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