Balboa Wealth Partners Has $993,000 Stake in The Procter & Gamble Company (NYSE:PG)

Balboa Wealth Partners reduced its stake in The Procter & Gamble Company (NYSE:PG) by 7.3% during the 3rd quarter, Holdings Channel reports. The firm owned 5,734 shares of the company’s stock after selling 454 shares during the period. Balboa Wealth Partners’ holdings in Procter & Gamble were worth $993,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of PG. Concurrent Investment Advisors LLC grew its stake in shares of Procter & Gamble by 4.5% in the third quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock worth $16,300,000 after purchasing an additional 4,035 shares during the last quarter. Radnor Capital Management LLC purchased a new stake in shares of Procter & Gamble during the 3rd quarter valued at $5,705,000. Welch Group LLC raised its position in Procter & Gamble by 0.9% in the 3rd quarter. Welch Group LLC now owns 323,870 shares of the company’s stock worth $56,094,000 after purchasing an additional 2,990 shares during the period. GAMMA Investing LLC increased its position in shares of Procter & Gamble by 67.2% in the second quarter. GAMMA Investing LLC now owns 26,803 shares of the company’s stock valued at $4,420,000 after acquiring an additional 10,777 shares during the period. Finally, Quintet Private Bank Europe S.A. boosted its stake in shares of Procter & Gamble by 15.0% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 426,820 shares of the company’s stock valued at $73,925,000 after purchasing an additional 55,620 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Stock Performance

Shares of NYSE:PG opened at $167.08 on Friday. 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 twelve month low of $142.50 and a twelve month high of $177.94. The firm has a market cap of $393.48 billion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 3.60 and a beta of 0.42. The business has a fifty day moving average of $170.61 and a 200-day moving average of $168.28.

Procter & Gamble (NYSE:PG) last announced its earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) 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 business had revenue of $21.74 billion during the quarter, compared to analyst estimates of $21.99 billion. During the same quarter in the previous year, the business earned $1.83 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. On average, equities research analysts predict that The Procter & Gamble Company will post 6.94 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be given a dividend of $1.0065 per share. The ex-dividend date is Friday, October 18th. This represents a $4.03 annualized dividend and a yield of 2.41%. Procter & Gamble’s dividend payout ratio (DPR) is 69.48%.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, CEO Ma. Fatima Francisco sold 96,000 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $170.00, for a total transaction of $16,320,000.00. Following the transaction, the chief executive officer now directly owns 13,721 shares of the company’s stock, valued at approximately $2,332,570. This trade represents a 87.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Andre Schulten sold 13,041 shares of Procter & Gamble stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $170.00, for a total transaction of $2,216,970.00. Following the sale, the chief financial officer now owns 37,208 shares of the company’s stock, valued at approximately $6,325,360. This trade represents a 25.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 313,597 shares of company stock worth $53,268,499 in the last ninety days. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

PG has been the topic of several recent research reports. Wolfe Research upgraded shares of Procter & Gamble to a “strong-buy” rating in a research report on Friday, August 23rd. Hsbc Global Res raised shares of Procter & Gamble to a “strong-buy” rating in a report on Friday, October 4th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a research report on Monday, October 21st. Morgan Stanley raised their target price on shares of Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, Stifel Nicolaus lifted their price target on Procter & Gamble from $157.00 to $161.00 and gave the stock a “hold” rating in a research note on Monday, July 22nd. Nine investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $177.00.

Procter & Gamble Company Profile

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.