Fortis Group Advisors LLC Sells 387 Shares of The Procter & Gamble Company (NYSE:PG)

Fortis Group Advisors LLC trimmed its position in The Procter & Gamble Company (NYSE:PG) by 7.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,860 shares of the company’s stock after selling 387 shares during the period. Fortis Group Advisors LLC’s holdings in Procter & Gamble were worth $842,000 at the end of the most recent reporting period.

A number of other 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 second quarter worth about $28,000. Fairway Wealth LLC purchased a new position in shares of Procter & Gamble during the second quarter worth about $29,000. 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 worth $32,000 after purchasing an additional 77 shares during the last quarter. POM Investment Strategies LLC purchased a new stake in Procter & Gamble in the second quarter valued at approximately $34,000. Finally, Quest Partners LLC bought a new stake in Procter & Gamble during the second quarter valued at approximately $36,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Procter & Gamble Trading Up 0.5 %

PG stock traded up $0.78 on Tuesday, reaching $170.32. The company’s stock had a trading volume of 2,182,723 shares, compared to its average volume of 6,664,997. The business has a fifty day simple moving average of $171.82 and a two-hundred day simple moving average of $167.33. The firm has a market cap of $401.98 billion, a PE ratio of 27.71, a PEG ratio of 3.74 and a beta of 0.41. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.53 and a current ratio of 0.73. The Procter & Gamble Company has a 12-month low of $142.50 and a 12-month high of $177.94.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The business had revenue of $21.74 billion during the quarter, compared to the consensus estimate of $21.99 billion. During the same quarter in the prior year, the company earned $1.83 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. As a group, research analysts forecast that The Procter & Gamble Company will post 6.97 EPS for the current year.

Procter & Gamble Dividend Announcement

The firm 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. This represents a $4.03 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Friday, October 18th. Procter & Gamble’s payout ratio is currently 65.69%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PG. Dbs Bank cut shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Citigroup lifted their price target on Procter & Gamble from $177.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Piper Sandler initiated coverage on Procter & Gamble in a report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price objective on the stock. BNP Paribas started coverage on Procter & Gamble in a research report on Monday, June 24th. They issued an “outperform” rating and a $187.00 target price for the company. Finally, Morgan Stanley increased their price target on shares of Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday. Nine analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Procter & Gamble currently has an average rating of “Moderate Buy” and a consensus price target of $177.00.

Insiders Place Their Bets

In other news, insider Susan Street Whaley sold 450 shares of Procter & Gamble stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total transaction of $76,149.00. Following the completion of the transaction, the insider now directly owns 13,072 shares in the company, valued at approximately $2,212,043.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Susan Street Whaley sold 450 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $169.22, for a total transaction of $76,149.00. Following the completion of the transaction, the insider now owns 13,072 shares of the company’s stock, valued at $2,212,043.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Balaji Purushothaman sold 8,842 shares of the business’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 completion of the sale, the insider now directly owns 11,537 shares in the company, valued at $1,902,451.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 383,194 shares of company stock worth $65,140,718. 0.17% of the stock is currently owned by company insiders.

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.