Sound Income Strategies LLC Raises Stock Holdings in The Procter & Gamble Company (NYSE:PG)

by · The Markets Daily

Sound Income Strategies LLC grew its holdings in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,383 shares of the company’s stock after buying an additional 180 shares during the quarter. Sound Income Strategies LLC’s holdings in Procter & Gamble were worth $1,452,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Itau Unibanco Holding S.A. acquired a new stake in shares of Procter & Gamble in the 2nd quarter valued at about $28,000. Fairway Wealth LLC acquired a new position in shares of Procter & Gamble in the 2nd quarter worth approximately $29,000. Transcendent Capital Group LLC bought a new stake in shares of Procter & Gamble in the 4th quarter valued at approximately $31,000. Ruedi Wealth Management Inc. lifted its stake in Procter & Gamble by 64.7% during the first quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock worth $32,000 after purchasing an additional 77 shares during the last quarter. Finally, POM Investment Strategies LLC acquired a new position in Procter & Gamble in the second quarter worth $34,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Analysts Set New Price Targets

PG has been the topic of a number of research reports. Jefferies Financial Group downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating and reduced their price target for the stock from $182.00 to $175.00 in a research report on Wednesday, July 24th. Wolfe Research upgraded Procter & Gamble to a “strong-buy” rating in a research note on Friday, August 23rd. Dbs Bank downgraded Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 1st. Barclays cut Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 target price on the stock. in a research note on Monday, September 30th. Finally, DZ Bank upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price target for the company in a research report on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $176.21.

Read Our Latest Research Report on PG

Insiders Place Their Bets

In related news, CEO Ma. Fatima Francisco sold 96,000 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $170.00, for a total value of $16,320,000.00. Following the completion of the sale, the chief executive officer now owns 13,721 shares in the company, valued at approximately $2,332,570. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Ma. Fatima Francisco sold 96,000 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $170.00, for a total transaction of $16,320,000.00. Following the transaction, the chief executive officer now directly owns 13,721 shares of the company’s stock, valued at approximately $2,332,570. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Balaji Purushothaman sold 8,842 shares of the firm’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 sale, the insider now owns 11,537 shares of the company’s stock, valued at $1,902,451.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 383,194 shares of company stock worth $65,140,718. Company insiders own 0.17% of the company’s stock.

Procter & Gamble Price Performance

Shares of NYSE PG traded up $2.14 during midday trading on Friday, reaching $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 Procter & Gamble Company has a one year low of $141.66 and a one year high of $177.94. The company has a market cap of $403.80 billion, a price-to-earnings ratio of 27.96, a price-to-earnings-growth ratio of 3.67 and a beta of 0.41. The company has a 50 day moving average price of $171.48 and a 200 day moving average price of $166.78. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.51.

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

Procter & Gamble Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be given a $1.0065 dividend. The ex-dividend date is Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.35%. Procter & Gamble’s dividend payout ratio (DPR) is 65.69%.

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.

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