Fortune Financial Advisors LLC Sells 38,871 Shares of The Procter & Gamble Company (NYSE:PG)

by · The Cerbat Gem

Fortune Financial Advisors LLC trimmed its stake in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 92.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,014 shares of the company’s stock after selling 38,871 shares during the quarter. Fortune Financial Advisors LLC’s holdings in Procter & Gamble were worth $522,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PG. Itau Unibanco Holding S.A. purchased a new stake in shares of Procter & Gamble in the second quarter worth about $28,000. Fairway Wealth LLC purchased a new stake in Procter & Gamble in the 2nd quarter worth approximately $29,000. Ruedi Wealth Management Inc. boosted its holdings in Procter & Gamble by 64.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock valued at $32,000 after purchasing an additional 77 shares during the period. POM Investment Strategies LLC purchased a new position in shares of Procter & Gamble during the 2nd quarter valued at $34,000. Finally, Quest Partners LLC bought a new position in shares of Procter & Gamble in the second quarter worth $36,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Evercore ISI lifted 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. Barclays downgraded Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price target for the company. in a research report on Monday, September 30th. Wolfe Research upgraded shares of Procter & Gamble to a “strong-buy” rating in a research report on Friday, August 23rd. Piper Sandler started coverage on shares of Procter & Gamble in a research report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price for the company. Finally, Jefferies Financial Group lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating and decreased their price target for the stock from $182.00 to $175.00 in a report on Wednesday, July 24th. Nine equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $177.00.

Check Out Our Latest Analysis on Procter & Gamble

Procter & Gamble Price Performance

Shares of Procter & Gamble stock opened at $168.22 on Friday. The stock has a market capitalization of $396.16 billion, a P/E ratio of 29.00, a price-to-earnings-growth ratio of 3.67 and a beta of 0.41. The Procter & Gamble Company has a one year low of $142.50 and a one year high of $177.94. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55. The business’s 50 day simple moving average is $171.93 and its two-hundred day simple moving average is $167.62.

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

Procter & Gamble Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be paid a $1.0065 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $4.03 annualized dividend and a dividend yield of 2.39%. Procter & Gamble’s payout ratio is presently 69.48%.

Insider Buying and Selling

In other Procter & Gamble news, insider Balaji Purushothaman sold 12,800 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $168.99, for a total value of $2,163,072.00. Following the completion of the sale, the insider now owns 11,566 shares in the company, valued at approximately $1,954,538.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Andre Schulten sold 13,041 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $170.00, for a total value of $2,216,970.00. Following the completion of the transaction, the chief financial officer now directly owns 37,208 shares of the company’s stock, valued at $6,325,360. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Balaji Purushothaman sold 12,800 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was 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 owns 11,566 shares of the company’s stock, valued at $1,954,538.34. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 397,986 shares of company stock valued at $67,642,430 over the last ninety days. 0.18% of the stock is owned by insiders.

Procter & Gamble Company 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.

Featured Articles