Patton Albertson Miller Group LLC Cuts Stake in The Procter & Gamble Company (NYSE:PG)

Patton Albertson Miller Group LLC lessened its stake in shares of The Procter & Gamble Company (NYSE:PG) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,144 shares of the company’s stock after selling 241 shares during the period. Patton Albertson Miller Group LLC’s holdings in Procter & Gamble were worth $3,835,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new position in Procter & Gamble during the second quarter worth about $28,000. Fairway Wealth LLC purchased a new stake in shares of Procter & Gamble in the second quarter valued at approximately $29,000. POM Investment Strategies LLC acquired a new stake in shares of Procter & Gamble in the second quarter valued at approximately $34,000. Quest Partners LLC purchased a new position in Procter & Gamble during the second quarter worth approximately $36,000. Finally, Fairfield Financial Advisors LTD acquired a new position in Procter & Gamble during the second quarter worth $44,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on PG shares. Wolfe Research raised shares of Procter & Gamble to a “strong-buy” rating in a research report on Friday, August 23rd. DZ Bank raised Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a research report on Thursday, August 29th. Hsbc Global Res raised shares of Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. boosted their price target on shares of Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $164.00 price objective on shares of Procter & Gamble in a research report on Monday, October 21st. Eight research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $180.45.

Insiders Place Their Bets

In other Procter & Gamble news, CEO Jon R. Moeller sold 37,240 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $168.89, for a total transaction of $6,289,463.60. Following the transaction, the chief executive officer now directly owns 263,537 shares of the company’s stock, valued at approximately $44,508,763.93. This trade represents a 12.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Balaji Purushothaman sold 12,800 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the completion of the sale, the insider now directly owns 11,566 shares of the company’s stock, valued at $1,954,538.34. The trade was a 52.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,473 shares of company stock valued at $12,313,697. 0.18% of the stock is currently owned by insiders.

Procter & Gamble Stock Up 0.6 %

Shares of NYSE PG opened at $177.40 on Tuesday. The business has a 50-day moving average of $170.04 and a two-hundred day moving average of $168.74. The company has a market capitalization of $417.78 billion, a price-to-earnings ratio of 30.59, a price-to-earnings-growth ratio of 3.81 and a beta of 0.42. The Procter & Gamble Company has a 1 year low of $142.50 and a 1 year high of $178.82. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. The firm had revenue of $21.74 billion during 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%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.83 earnings per share. On average, analysts forecast that The Procter & Gamble Company will post 6.94 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were given a $1.0065 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a yield of 2.27%. Procter & Gamble’s dividend payout ratio (DPR) is presently 69.31%.

Procter & Gamble 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.