Inlet Private Wealth LLC Cuts Stock Position in The Procter & Gamble Company (NYSE:PG)

Inlet Private Wealth LLC trimmed its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 1.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,893 shares of the company’s stock after selling 150 shares during the period. Inlet Private Wealth LLC’s holdings in Procter & Gamble were worth $2,060,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Mitchell & Pahl Private Wealth LLC boosted its stake in shares of Procter & Gamble by 7.0% in the third quarter. Mitchell & Pahl Private Wealth LLC now owns 20,275 shares of the company’s stock valued at $3,512,000 after purchasing an additional 1,334 shares during the period. Good Life Advisors LLC boosted its position in Procter & Gamble by 16.4% in the 3rd quarter. Good Life Advisors LLC now owns 20,632 shares of the company’s stock valued at $3,574,000 after buying an additional 2,910 shares during the last quarter. Naviter Wealth LLC grew its stake in shares of Procter & Gamble by 2.5% during the third quarter. Naviter Wealth LLC now owns 19,235 shares of the company’s stock valued at $3,332,000 after acquiring an additional 470 shares in the last quarter. Hengehold Capital Management LLC increased its position in shares of Procter & Gamble by 2.6% during the third quarter. Hengehold Capital Management LLC now owns 376,097 shares of the company’s stock worth $65,140,000 after acquiring an additional 9,626 shares during the last quarter. Finally, Mayport LLC acquired a new position in shares of Procter & Gamble in the third quarter worth about $210,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. TD Cowen initiated coverage on Procter & Gamble in a report on Tuesday, July 23rd. They set a “buy” rating and a $189.00 price objective on the stock. Citigroup upped their price target on shares of Procter & Gamble from $177.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. DZ Bank raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 target price for the company in a research report on Thursday, August 29th. 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 report on Monday, September 30th. Finally, 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 target for the company. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.21.

Procter & Gamble Price Performance

PG stock remained flat at $172.38 on Thursday. The company had a trading volume of 2,267,661 shares, compared to its average volume of 6,660,716. The business has a 50 day simple moving average of $171.72 and a two-hundred day simple moving average of $167.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.53. The company has a market capitalization of $406.84 billion, a P/E ratio of 28.19, a P/E/G ratio of 3.67 and a beta of 0.41. The Procter & Gamble Company has a 1-year low of $142.50 and a 1-year high of $177.94.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.03. The business had revenue of $20.53 billion for 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 company’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the business earned $1.37 earnings per share. As a group, equities analysts expect that The Procter & Gamble Company will post 6.97 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be paid a dividend of $1.0065 per share. The ex-dividend date is Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.34%. Procter & Gamble’s dividend payout ratio is presently 65.69%.

Insider Buying and Selling

In other news, insider Balaji Purushothaman sold 8,842 shares of Procter & Gamble stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the transaction, the insider now directly owns 11,537 shares in the company, valued at approximately $1,902,451.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Procter & Gamble news, CEO Jon R. Moeller sold 37,240 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $168.89, for a total value of $6,289,463.60. Following the transaction, the chief executive officer now owns 263,537 shares of the company’s stock, valued at approximately $44,508,763.93. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the insider now directly owns 11,537 shares of the company’s stock, valued at approximately $1,902,451.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 383,194 shares of company stock valued at $65,140,718 over the last quarter. Corporate insiders own 0.17% of the company’s stock.

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.