Diligent Investors LLC Increases Stake in The Procter & Gamble Company (NYSE:PG)

Diligent Investors LLC raised its holdings in shares of The Procter & Gamble Company (NYSE:PGGet Rating) by 1.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,292 shares of the company’s stock after buying an additional 283 shares during the period. Procter & Gamble comprises 0.8% of Diligent Investors LLC’s portfolio, making the stock its 24th largest holding. Diligent Investors LLC’s holdings in Procter & Gamble were worth $2,343,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Allworth Financial LP increased its holdings in Procter & Gamble by 19.9% during the second quarter. Allworth Financial LP now owns 79,544 shares of the company’s stock valued at $11,438,000 after buying an additional 13,218 shares during the last quarter. HBW Advisory Services LLC increased its holdings in Procter & Gamble by 108.9% during the second quarter. HBW Advisory Services LLC now owns 34,079 shares of the company’s stock valued at $4,900,000 after buying an additional 17,766 shares during the last quarter. Contravisory Investment Management Inc. increased its holdings in Procter & Gamble by 2,861.3% during the second quarter. Contravisory Investment Management Inc. now owns 42,435 shares of the company’s stock valued at $6,102,000 after buying an additional 41,002 shares during the last quarter. RDA Financial Network increased its holdings in Procter & Gamble by 1.2% during the second quarter. RDA Financial Network now owns 5,686 shares of the company’s stock valued at $818,000 after buying an additional 69 shares during the last quarter. Finally, Armstrong Henry H Associates Inc. boosted its position in shares of Procter & Gamble by 0.8% in the second quarter. Armstrong Henry H Associates Inc. now owns 416,384 shares of the company’s stock worth $59,872,000 after purchasing an additional 3,265 shares during the period. 63.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PG shares. Evercore ISI set a $170.00 target price on shares of Procter & Gamble in a research report on Monday, June 20th. Barclays cut their target price on shares of Procter & Gamble from $157.00 to $154.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 2nd. Truist Financial cut their target price on shares of Procter & Gamble from $175.00 to $160.00 and set a “buy” rating on the stock in a research report on Monday, August 1st. StockNews.com cut shares of Procter & Gamble from a “buy” rating to a “hold” rating in a report on Wednesday, September 14th. Finally, Wells Fargo & Company lowered their target price on shares of Procter & Gamble from $170.00 to $160.00 in a research note on Friday, July 22nd. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $162.93.

Procter & Gamble Price Performance

NYSE:PG opened at $136.21 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.65 and a quick ratio of 0.45. The firm has a market cap of $324.93 billion, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 3.49 and a beta of 0.35. The company has a 50 day moving average price of $142.58 and a 200-day moving average price of $147.19. The Procter & Gamble Company has a 1-year low of $129.50 and a 1-year high of $165.35.

Procter & Gamble (NYSE:PGGet Rating) last issued its quarterly earnings results on Friday, July 29th. The company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.02). Procter & Gamble had a return on equity of 32.67% and a net margin of 18.39%. The company had revenue of $19.52 billion during the quarter, compared to analysts’ expectations of $19.41 billion. During the same period in the previous year, the firm posted $1.13 EPS. Procter & Gamble’s revenue was up 3.0% compared to the same quarter last year. Equities research analysts forecast that The Procter & Gamble Company will post 5.94 EPS for the current year.

Procter & Gamble Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Friday, July 22nd were given a $0.913 dividend. The ex-dividend date was Thursday, July 21st. This represents a $3.65 dividend on an annualized basis and a yield of 2.68%. Procter & Gamble’s payout ratio is currently 62.82%.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, insider Susan Street Whaley sold 907 shares of the business’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $149.33, for a total transaction of $135,442.31. Following the sale, the insider now directly owns 6,253 shares in the company, valued at $933,760.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Andre Schulten sold 987 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $149.33, for a total transaction of $147,388.71. Following the completion of the sale, the chief financial officer now directly owns 27,330 shares of the company’s stock, valued at $4,081,188.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Susan Street Whaley sold 907 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $149.33, for a total value of $135,442.31. Following the sale, the insider now directly owns 6,253 shares of the company’s stock, valued at $933,760.49. The disclosure for this sale can be found here. Insiders have sold 289,321 shares of company stock valued at $42,559,426 over the last 90 days. 0.26% of the stock is owned by insiders.

About Procter & Gamble

(Get Rating)

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.

Recommended Stories

Want to see what other hedge funds are holding PG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Procter & Gamble Company (NYSE:PGGet Rating).

Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

Receive News & Ratings for Procter & Gamble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Procter & Gamble and related companies with MarketBeat.com's FREE daily email newsletter.