Balentine LLC Acquires 1,393 Shares of The Procter & Gamble Company (NYSE:PG)

Balentine LLC increased its stake in shares of The Procter & Gamble Company (NYSE:PG) by 11.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,859 shares of the company’s stock after purchasing an additional 1,393 shares during the period. Balentine LLC’s holdings in Procter & Gamble were worth $2,400,000 as of its most recent SEC filing.

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

Procter & Gamble Stock Up 0.4 %

PG stock opened at $165.79 on Wednesday. The business’s fifty day moving average price is $171.45 and its two-hundred day moving average price is $168.18. The stock has a market capitalization of $390.44 billion, a price-to-earnings ratio of 28.58, a PEG ratio of 3.57 and a beta of 0.42. The Procter & Gamble Company has a fifty-two week low of $142.50 and a fifty-two week 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.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $21.99 billion. During the same quarter in the previous year, the company earned $1.83 EPS. The business’s revenue was down .6% on a year-over-year basis. On average, equities analysts anticipate that The Procter & Gamble Company will post 6.94 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a yield of 2.43%. Procter & Gamble’s dividend payout ratio (DPR) is presently 69.48%.

Analyst Upgrades and Downgrades

Several analysts have commented on PG shares. Jefferies Financial Group downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating and dropped their target price for the stock from $182.00 to $175.00 in a report on Wednesday, July 24th. StockNews.com lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Royal Bank of Canada reiterated a “sector perform” rating and set a $164.00 target price on shares of Procter & Gamble in a report on Monday, October 21st. Dbs Bank cut shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Procter & Gamble from $171.00 to $176.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Nine 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, Procter & Gamble presently has an average rating of “Moderate Buy” and an average price target of $177.00.

Insider Buying and Selling at Procter & Gamble

In other news, CEO Jon R. Moeller sold 72,174 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $171.01, for a total transaction of $12,342,475.74. Following the sale, the chief executive officer now directly owns 263,158 shares of the company’s stock, valued at approximately $45,002,649.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Jon R. Moeller sold 72,174 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $171.01, for a total transaction of $12,342,475.74. Following the sale, the chief executive officer now owns 263,158 shares in the company, valued at approximately $45,002,649.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jon R. Moeller sold 31,797 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total transaction of $5,380,688.34. Following the transaction, the chief executive officer now owns 300,777 shares of the company’s stock, valued at approximately $50,897,483.94. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 385,771 shares of company stock valued at $65,610,975 in the last three months. Corporate insiders own 0.18% of the company’s stock.

Procter & Gamble Profile

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.