Icon Wealth Advisors LLC Has $222.72 Million Stock Holdings in The Procter & Gamble Company (NYSE:PG)

Icon Wealth Advisors LLC lifted its position in shares of The Procter & Gamble Company (NYSE:PG) by 4,621.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,285,923 shares of the company’s stock after acquiring an additional 1,258,690 shares during the quarter. Procter & Gamble makes up approximately 8.4% of Icon Wealth Advisors LLC’s portfolio, making the stock its 2nd biggest position. Icon Wealth Advisors LLC’s holdings in Procter & Gamble were worth $222,722,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new position in Procter & Gamble during the 2nd quarter valued at about $28,000. Fairway Wealth LLC purchased a new position in Procter & Gamble during the second quarter valued at approximately $29,000. POM Investment Strategies LLC bought a new position in Procter & Gamble in the second quarter worth approximately $34,000. Quest Partners LLC purchased a new stake in Procter & Gamble during the second quarter worth $36,000. Finally, Fairfield Financial Advisors LTD purchased a new position in shares of Procter & Gamble in the 2nd quarter valued at $44,000. 65.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Jon R. Moeller sold 87,979 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $170.40, for a total transaction of $14,991,621.60. Following the completion of the transaction, the chief executive officer now directly owns 300,777 shares of the company’s stock, valued at $51,252,400.80. This represents a 22.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Andre Schulten sold 13,041 shares of Procter & Gamble stock in a transaction on Monday, August 26th. The shares were sold at an average price of $170.00, for a total transaction of $2,216,970.00. Following the completion of the sale, the chief financial officer now directly owns 37,208 shares in the company, valued at $6,325,360. This represents a 25.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 160,693 shares of company stock worth $27,311,345. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on PG. StockNews.com downgraded Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. lifted their price objective on shares of Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. Wolfe Research upgraded shares of Procter & Gamble to a “strong-buy” rating in a research note on Friday, August 23rd. DA Davidson reaffirmed a “neutral” rating and set a $160.00 price target on shares of Procter & Gamble in a research report on Wednesday. Finally, Evercore ISI raised their price objective on Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Nine investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $177.00.

Procter & Gamble Stock Performance

NYSE PG opened at $172.68 on Friday. The firm has a market capitalization of $406.67 billion, a P/E ratio of 29.77, a PEG ratio of 3.69 and a beta of 0.42. The stock has a 50-day simple moving average of $170.00 and a two-hundred day simple moving average of $168.54. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75. The Procter & Gamble Company has a fifty-two week low of $142.50 and a fifty-two week high of $177.94.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The company had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $21.99 billion. During the same period last year, the business earned $1.83 earnings per share. Procter & Gamble’s quarterly revenue was down .6% on a year-over-year basis. On average, equities analysts forecast that The Procter & Gamble Company will post 6.94 earnings per share for the current year.

Procter & Gamble Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were issued a $1.0065 dividend. The ex-dividend date was Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a yield of 2.33%. Procter & Gamble’s payout ratio is 69.48%.

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.