Precedent Wealth Partners LLC Purchases New Shares in The Procter & Gamble Company (NYSE:PG)

Precedent Wealth Partners LLC acquired a new stake in shares of The Procter & Gamble Company (NYSE:PG) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,284 shares of the company’s stock, valued at approximately $215,000.

Other large investors have also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC bought a new position in shares of Procter & Gamble in the 3rd quarter worth about $33,000. Costello Asset Management INC lifted its position in Procter & Gamble by 2,142.9% in the 3rd quarter. Costello Asset Management INC now owns 314 shares of the company’s stock valued at $54,000 after purchasing an additional 300 shares during the last quarter. William B. Walkup & Associates Inc. acquired a new position in Procter & Gamble during the 2nd quarter valued at about $58,000. Mendota Financial Group LLC increased its stake in Procter & Gamble by 58.0% during the 4th quarter. Mendota Financial Group LLC now owns 376 shares of the company’s stock valued at $63,000 after buying an additional 138 shares during the period. Finally, Itau Unibanco Holding S.A. increased its stake in Procter & Gamble by 138.7% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 401 shares of the company’s stock valued at $69,000 after buying an additional 233 shares during the period. 65.77% of the stock is currently owned by institutional investors.

Procter & Gamble Stock Performance

PG stock opened at $164.41 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.55 and a current ratio of 0.76. The stock has a market cap of $387.20 billion, a P/E ratio of 26.18, a P/E/G ratio of 3.69 and a beta of 0.45. The firm has a 50 day simple moving average of $168.85 and a 200 day simple moving average of $169.37. The Procter & Gamble Company has a 52 week low of $152.06 and a 52 week high of $180.43.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.86 by $0.02. The business had revenue of $21.88 billion during the quarter, compared to analysts’ expectations of $21,657,595.49 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 32.88%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company posted $1.84 earnings per share. Research analysts anticipate that The Procter & Gamble Company will post 6.94 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th will be given a $1.0065 dividend. This represents a $4.03 annualized dividend and a yield of 2.45%. The ex-dividend date is Friday, January 24th. Procter & Gamble’s dividend payout ratio is 64.17%.

Insiders Place Their Bets

In other Procter & Gamble news, CEO Gary A. Coombe sold 47,847 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $179.84, for a total value of $8,604,804.48. Following the completion of the sale, the chief executive officer now directly owns 39,977 shares of the company’s stock, valued at $7,189,463.68. The trade was a 54.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Balaji Purushothaman sold 12,800 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $172.73, for a total transaction of $2,210,944.00. Following the completion of the sale, the insider now directly owns 11,595 shares of the company’s stock, valued at $2,002,804.35. This represents a 52.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PG shares. Evercore ISI raised their target price on shares of Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Hsbc Global Res raised shares of Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. lowered their target price on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Wells Fargo & Company raised their target price on shares of Procter & Gamble from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Morgan Stanley lifted their price objective on shares of Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Eight equities research 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 stock. According to MarketBeat.com, Procter & Gamble presently has an average rating of “Moderate Buy” and a consensus target price of $180.53.

About Procter & Gamble

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.