SVB Wealth LLC Sells 12,334 Shares of The Procter & Gamble Company (NYSE:PG)

SVB Wealth LLC lowered its stake in The Procter & Gamble Company (NYSE:PG) by 6.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 175,690 shares of the company’s stock after selling 12,334 shares during the quarter. Procter & Gamble comprises approximately 0.7% of SVB Wealth LLC’s investment portfolio, making the stock its 22nd biggest holding. SVB Wealth LLC’s holdings in Procter & Gamble were worth $28,975,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PG. Transcendent Capital Group LLC bought a new stake in shares of Procter & Gamble in the fourth quarter worth $31,000. Ruedi Wealth Management Inc. increased its position in shares of Procter & Gamble by 64.7% in the first quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock valued at $32,000 after acquiring an additional 77 shares during the last quarter. POM Investment Strategies LLC bought a new stake in Procter & Gamble during the second quarter worth about $34,000. Vima LLC bought a new position in Procter & Gamble in the fourth quarter valued at approximately $35,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Procter & Gamble during the 1st quarter worth approximately $42,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PG. JPMorgan Chase & Co. cut their price target on shares of Procter & Gamble from $181.00 to $179.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Citigroup lifted their price target on Procter & Gamble from $177.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. BNP Paribas assumed coverage on Procter & Gamble in a research note on Monday, June 24th. They issued an “outperform” rating and a $187.00 price objective on the stock. TD Cowen assumed coverage on Procter & Gamble in a research note on Tuesday, July 23rd. They set a “buy” rating and a $189.00 target price for the company. Finally, Barclays dropped their price target on Procter & Gamble from $174.00 to $163.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $175.79.

Procter & Gamble Price Performance

NYSE PG traded up $0.12 on Friday, hitting $175.59. 5,785,684 shares of the company’s stock were exchanged, compared to its average volume of 6,591,211. The Procter & Gamble Company has a 52 week low of $141.45 and a 52 week high of $177.04. The stock has a 50-day moving average of $168.26 and a 200-day moving average of $164.65. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.51. The stock has a market cap of $414.42 billion, a price-to-earnings ratio of 28.69, a P/E/G ratio of 3.72 and a beta of 0.41.

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

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were issued a $1.0065 dividend. The ex-dividend date was Friday, July 19th. This represents a $4.03 dividend on an annualized basis and a yield of 2.29%. Procter & Gamble’s payout ratio is presently 65.85%.

Insider Buying and Selling at Procter & Gamble

In other news, CEO Jon R. Moeller sold 72,174 shares of Procter & Gamble stock in a transaction on Friday, August 9th. The shares were sold at an average price of $171.01, for a total transaction of $12,342,475.74. Following the transaction, the chief executive officer now owns 263,158 shares in the company, valued at $45,002,649.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Balaji Purushothaman sold 8,842 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the completion of the sale, the insider now directly owns 11,537 shares in the company, valued at $1,902,451.30. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jon R. Moeller sold 72,174 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $171.01, for a total transaction of $12,342,475.74. Following the completion of the transaction, the chief executive officer now owns 263,158 shares in the company, valued at approximately $45,002,649.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 375,553 shares of company stock worth $63,829,141. 0.17% of the stock is currently owned by insiders.

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.