Verdence Capital Advisors LLC Raises Position in The Procter & Gamble Company (NYSE:PG)

Verdence Capital Advisors LLC raised its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 1.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,741 shares of the company’s stock after buying an additional 808 shares during the period. Procter & Gamble comprises approximately 0.7% of Verdence Capital Advisors LLC’s portfolio, making the stock its 27th largest position. Verdence Capital Advisors LLC’s holdings in Procter & Gamble were worth $8,368,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Advantage Trust Co purchased a new position in shares of Procter & Gamble in the fourth quarter valued at about $28,000. Transcendent Capital Group LLC purchased a new position in Procter & Gamble during the 4th quarter valued at about $31,000. Ruedi Wealth Management Inc. raised its position in Procter & Gamble by 64.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock valued at $32,000 after purchasing an additional 77 shares during the last quarter. MeadowBrook Investment Advisors LLC purchased a new stake in Procter & Gamble in the 4th quarter worth approximately $33,000. Finally, POM Investment Strategies LLC bought a new stake in shares of Procter & Gamble in the 2nd quarter worth approximately $34,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PG. Dbs Bank lowered Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Barclays dropped their target price on shares of Procter & Gamble from $174.00 to $163.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft boosted their price target 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. Royal Bank of Canada raised their price objective on shares of Procter & Gamble from $157.00 to $164.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. decreased their target price on Procter & Gamble from $181.00 to $179.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $173.95.

Procter & Gamble Stock Up 0.7 %

PG traded up $1.18 during trading on Monday, hitting $170.35. 5,424,970 shares of the company’s stock traded hands, compared to its average volume of 6,597,088. The stock has a market capitalization of $402.05 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 3.64 and a beta of 0.41. The company’s 50 day simple moving average is $167.29 and its two-hundred day simple moving average is $163.68. The Procter & Gamble Company has a 12-month low of $141.45 and a 12-month high of $171.89. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.51.

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

Procter & Gamble Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Friday, July 19th were given a $1.0065 dividend. The ex-dividend date was Friday, July 19th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.36%. Procter & Gamble’s dividend payout ratio is currently 65.69%.

Insider Activity at Procter & Gamble

In related news, insider Balaji Purushothaman sold 8,842 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $164.90, for a total value of $1,458,045.80. Following the sale, the insider now owns 11,537 shares in the company, valued at $1,902,451.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Jon R. Moeller sold 72,174 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $171.01, for a total value of $12,342,475.74. Following the completion of the sale, the chief executive officer now directly owns 263,158 shares of the company’s stock, valued at approximately $45,002,649.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Balaji Purushothaman sold 8,842 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 11,537 shares of the company’s stock, valued at $1,902,451.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 237,293 shares of company stock valued at $40,331,085. Insiders own 0.17% of the company’s stock.

Procter & Gamble Profile

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.