Silverlake Wealth Management LLC Cuts Stock Position in The Procter & Gamble Company (NYSE:PG)

by · The Cerbat Gem

Silverlake Wealth Management LLC trimmed its position in The Procter & Gamble Company (NYSE:PG – Free Report) by 0.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,291 shares of the company’s stock after selling 338 shares during the period. Procter & Gamble makes up approximately 2.4% of Silverlake Wealth Management LLC’s investment portfolio, making the stock its 3rd largest holding. Silverlake Wealth Management LLC’s holdings in Procter & Gamble were worth $6,459,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PG. HighPoint Advisor Group LLC acquired a new position in shares of Procter & Gamble during the 4th quarter worth $17,696,000. Steele Capital Management Inc. bought a new stake in Procter & Gamble during the 1st quarter worth approximately $204,000. United Advisor Group LLC purchased a new position in Procter & Gamble during the fourth quarter worth about $3,463,000. GAMMA Investing LLC grew its position in shares of Procter & Gamble by 67.2% during the 2nd quarter. GAMMA Investing LLC now owns 26,803 shares of the company’s stock valued at $4,420,000 after acquiring an additional 10,777 shares during the period. Finally, Consilio Wealth Advisors LLC lifted its stake in shares of Procter & Gamble by 27.7% during the 1st quarter. Consilio Wealth Advisors LLC now owns 1,746 shares of the company’s stock valued at $283,000 after buying an additional 379 shares in the last quarter. 65.77% of the stock is owned by institutional investors.

Procter & Gamble Trading Up 1.3 %

PG traded up $2.14 during midday trading on Friday, hitting $171.09. The company’s stock had a trading volume of 7,036,480 shares, compared to its average volume of 6,682,263. The firm has a market cap of $403.80 billion, a P/E ratio of 27.96, a PEG ratio of 3.67 and a beta of 0.41. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $171.48 and a two-hundred day moving average price of $166.74. The Procter & Gamble Company has a 52-week low of $141.66 and a 52-week high of $177.94.

Procter & Gamble (NYSE:PG – Get Free Report) last issued its earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.03. The business had revenue of $20.53 billion for the quarter, compared to analyst estimates of $20.69 billion. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.37 EPS. On average, research analysts anticipate that The Procter & Gamble Company will post 6.97 earnings per share for the current year.

Procter & Gamble Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be paid a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Friday, October 18th. Procter & Gamble’s payout ratio is currently 65.69%.

Wall Street Analysts Forecast Growth

PG has been the topic of several research analyst reports. Evercore ISI upped their price objective on shares of Procter & Gamble from $177.00 to $183.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft lifted their target price on Procter & Gamble from $171.00 to $176.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. StockNews.com downgraded Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. BNP Paribas started coverage on Procter & Gamble in a report on Monday, June 24th. They set an “outperform” rating and a $187.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price objective on shares of Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Ten investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.05.

Read Our Latest Stock Analysis on Procter & Gamble

Insider Buying and Selling

In other Procter & Gamble news, insider Balaji Purushothaman sold 8,842 shares of the business’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 transaction, the insider now owns 11,537 shares in the company, valued at $1,902,451.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Procter & Gamble news, insider Balaji Purushothaman sold 8,842 shares of Procter & Gamble 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 transaction, the insider now owns 11,537 shares in the company, valued at approximately $1,902,451.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Susan Street Whaley sold 450 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total transaction of $76,149.00. Following the transaction, the insider now owns 13,072 shares in the company, valued at approximately $2,212,043.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 383,194 shares of company stock worth $65,140,718. Corporate insiders own 0.17% of the company’s stock.

Procter & Gamble Profile

(Free Report)

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.

See Also

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