Fountainhead AM LLC Boosts Position in The Procter & Gamble Company (NYSE:PG)

by · The Cerbat Gem

Fountainhead AM LLC lifted its position in The Procter & Gamble Company (NYSE:PG – Free Report) by 114.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,529 shares of the company’s stock after buying an additional 5,077 shares during the quarter. Fountainhead AM LLC’s holdings in Procter & Gamble were worth $1,650,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC grew its position in Procter & Gamble by 19,030.8% in the third quarter. International Assets Investment Management LLC now owns 3,693,593 shares of the company’s stock worth $639,730,000 after acquiring an additional 3,674,286 shares in the last quarter. Wulff Hansen & CO. boosted its holdings in shares of Procter & Gamble by 16,292.0% in the 2nd quarter. Wulff Hansen & CO. now owns 3,675,902 shares of the company’s stock worth $606,230,000 after purchasing an additional 3,653,477 shares in the last quarter. TD Asset Management Inc increased its position in shares of Procter & Gamble by 114.9% during the 1st quarter. TD Asset Management Inc now owns 3,568,671 shares of the company’s stock valued at $579,017,000 after purchasing an additional 1,907,716 shares during the last quarter. AMF Tjanstepension AB raised its holdings in shares of Procter & Gamble by 416.1% during the 3rd quarter. AMF Tjanstepension AB now owns 1,818,490 shares of the company’s stock valued at $315,016,000 after buying an additional 1,466,115 shares in the last quarter. Finally, Swedbank AB bought a new stake in Procter & Gamble in the 1st quarter worth approximately $233,788,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on PG shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Procter & Gamble from $171.00 to $176.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. StockNews.com lowered Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. DZ Bank upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price target on the stock in a research report on Thursday, August 29th. Evercore ISI increased their price objective on Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Finally, Stifel Nicolaus boosted their price objective on shares of Procter & Gamble from $157.00 to $161.00 and gave the company a “hold” rating in a research report on Monday, July 22nd. Nine analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $177.00.

Get Our Latest Analysis on Procter & Gamble

Insider Activity at Procter & Gamble

In other news, CEO Ma. Fatima Francisco sold 96,000 shares of the business’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 transaction of $16,320,000.00. Following the completion of the transaction, the chief executive officer now directly owns 13,721 shares of the company’s stock, valued at $2,332,570. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Procter & Gamble news, insider Susan Street Whaley sold 450 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $169.22, for a total transaction of $76,149.00. Following the completion of the sale, the insider now directly owns 13,072 shares in the company, valued at $2,212,043.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ma. Fatima Francisco sold 96,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 13,721 shares in the company, valued at $2,332,570. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 313,597 shares of company stock valued at $53,268,499 over the last ninety days. Insiders own 0.18% of the company’s stock.

Procter & Gamble Trading Down 1.0 %

Procter & Gamble stock opened at $166.08 on Tuesday. The Procter & Gamble Company has a 12 month low of $142.50 and a 12 month high of $177.94. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The business’s fifty day simple moving average is $171.08 and its two-hundred day simple moving average is $168.23. The company has a market capitalization of $391.13 billion, a price-to-earnings ratio of 28.63, a price-to-earnings-growth ratio of 3.63 and a beta of 0.42.

Procter & Gamble (NYSE:PG – Get Free Report) last released its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The business had revenue of $21.74 billion during the quarter, compared to analyst estimates of $21.99 billion. During the same period last year, the business earned $1.83 EPS. Procter & Gamble’s revenue was down .6% compared to the same quarter last year. As a group, equities analysts predict that The Procter & Gamble Company will post 6.94 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be issued a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Friday, October 18th. Procter & Gamble’s payout ratio is currently 69.48%.

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.

Further Reading

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