Precedent Wealth Partners LLC Invests $215,000 in The Procter & Gamble Company (NYSE:PG)

Precedent Wealth Partners LLC acquired a new position in The Procter & Gamble Company (NYSE:PG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,284 shares of the company’s stock, valued at approximately $215,000.

Other institutional investors and hedge funds have also modified their holdings of the company. International Assets Investment Management LLC raised its stake in shares of Procter & Gamble by 19,030.8% in the 3rd quarter. International Assets Investment Management LLC now owns 3,693,593 shares of the company’s stock valued at $639,730,000 after buying an additional 3,674,286 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Procter & Gamble by 7.0% in the 3rd quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock valued at $9,538,327,000 after buying an additional 3,619,466 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Procter & Gamble by 10.2% in the 3rd quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock valued at $3,290,573,000 after buying an additional 1,760,214 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Procter & Gamble in the 3rd quarter worth about $301,950,000. Finally, AMF Tjanstepension AB grew its holdings in shares of Procter & Gamble by 416.1% in the 3rd quarter. AMF Tjanstepension AB now owns 1,818,490 shares of the company’s stock worth $315,016,000 after purchasing an additional 1,466,115 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PG shares. Evercore ISI upped their target price on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Stifel Nicolaus upped their target price on shares of Procter & Gamble from $161.00 to $165.00 and gave the stock a “hold” rating in a report on Thursday. DA Davidson reaffirmed a “buy” rating and issued a $209.00 target price on shares of Procter & Gamble in a report on Thursday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a report on Thursday. Finally, Morgan Stanley upped their target price on shares of Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $180.53.

Procter & Gamble Stock Performance

Shares of NYSE:PG opened at $164.41 on Monday. The company has a market capitalization of $387.20 billion, a price-to-earnings ratio of 26.18, a P/E/G ratio of 3.69 and a beta of 0.45. The firm’s 50 day simple moving average is $168.85 and its 200 day simple moving average is $169.37. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.76 and a quick ratio of 0.55. The Procter & Gamble Company has a fifty-two week low of $152.06 and a fifty-two week high of $180.43.

Procter & Gamble (NYSE:PG) last announced its 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. Procter & Gamble had a net margin of 18.35% and a return on equity of 32.88%. The firm had revenue of $21.88 billion for the quarter, compared to the consensus estimate of $21,657,595.49 billion. During the same period last year, the company posted $1.84 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts forecast that The Procter & Gamble Company will post 6.94 earnings per share for the current year.

Procter & Gamble Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th will be issued a $1.0065 dividend. The ex-dividend date of this dividend is Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.45%. Procter & Gamble’s dividend payout ratio (DPR) is presently 64.17%.

Insider Activity

In other news, insider Balaji Purushothaman sold 12,800 shares of Procter & Gamble stock in a transaction 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 owns 11,595 shares of the company’s stock, valued at approximately $2,002,804.35. This trade represents a 52.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gary A. Coombe sold 47,847 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 39,977 shares of the company’s stock, valued at approximately $7,189,463.68. This trade represents a 54.48 % decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Procter & Gamble Profile

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.