The Procter & Gamble Company (NYSE:PG) Shares Sold by Gateway Wealth Partners LLC

Gateway Wealth Partners LLC trimmed its holdings in The Procter & Gamble Company (NYSE:PG) by 16.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,850 shares of the company’s stock after selling 377 shares during the period. Gateway Wealth Partners LLC’s holdings in Procter & Gamble were worth $320,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new stake in shares of Procter & Gamble in the second quarter valued at about $28,000. Fairway Wealth LLC purchased a new stake in shares of Procter & Gamble in the second quarter valued at about $29,000. Ruedi Wealth Management Inc. grew its holdings 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 valued at $32,000 after purchasing an additional 77 shares during the period. POM Investment Strategies LLC purchased a new stake in shares of Procter & Gamble in the second quarter valued at about $34,000. Finally, Quest Partners LLC purchased a new stake in shares of Procter & Gamble in the second quarter valued at about $36,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PG shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $164.00 price objective on shares of Procter & Gamble in a report on Monday, October 21st. Morgan Stanley lifted 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, October 21st. Jefferies Financial Group lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $182.00 to $175.00 in a report on Wednesday, July 24th. DA Davidson lifted their target price on shares of Procter & Gamble from $159.00 to $160.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Finally, Hsbc Global Res upgraded Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. Nine research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $177.00.

Procter & Gamble Price Performance

Shares of NYSE PG opened at $167.17 on Wednesday. The stock’s 50-day moving average is $171.88 and its two-hundred day moving average is $167.87. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55. The Procter & Gamble Company has a 1-year low of $142.50 and a 1-year high of $177.94. The company has a market cap of $393.69 billion, a price-to-earnings ratio of 28.82, a price-to-earnings-growth ratio of 3.64 and a beta of 0.41.

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

Procter & Gamble Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders 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 dividend yield of 2.41%. Procter & Gamble’s dividend payout ratio is currently 69.48%.

Insider Transactions at Procter & Gamble

In other news, insider Balaji Purushothaman sold 8,842 shares of the company’s stock in a transaction dated 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 completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Balaji Purushothaman sold 8,842 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $1,902,451.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andre Schulten sold 13,041 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $170.00, for a total value of $2,216,970.00. Following the completion of the sale, the chief financial officer now directly owns 37,208 shares of the company’s stock, valued at approximately $6,325,360. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 397,986 shares of company stock valued at $67,642,430. 0.18% of the stock is currently owned by corporate insiders.

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.