Today, Procter & Gamble Co. (PG) Stake Decreased by Summit Financial Wealth Advisors LLC

Today, Procter & Gamble Co. (PG) Stake Decreased by Summit Financial Wealth Advisors LLC
Summit Financial Wealth Advisors LLC decreased its position in Procter & Gamble Co. (NYSE:PG) by 3.8% during the third quarter, Holdings Channel reports. The fund owned 11,620 shares of the company’s stock after selling 465 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in Procter & Gamble Co. were worth $1,043,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in PG. Americafirst Capital Management LLC acquired a new position in Procter & Gamble Co. during the second quarter worth approximately $112,000. Signature Estate & Investment Advisors LLC acquired a new position in Procter & Gamble Co. during the second quarter worth approximately $122,000. Global X Management Co. LLC increased its position in Procter & Gamble Co. by 259.5% in the second quarter. Global X Management Co. LLC now owns 1,517 shares of the company’s stock worth $128,000 after buying an additional 1,095 shares in the last quarter. Lenox Wealth Advisors Inc. increased its position in Procter & Gamble Co. by 0.5% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,840 shares of the company’s stock worth $156,000 after buying an additional 10 shares in the last quarter. Finally, Cypress Capital Management LLC WY acquired a new position in Procter & Gamble Co. during the second quarter worth approximately $157,000. 59.51% of the stock is owned by institutional investors and hedge funds.

Shares of Procter & Gamble Co. (NYSE:PG) traded up 0.94% during midday trading on Friday, hitting $83.46. The company had a trading volume of 3,883,098 shares. The firm has a market capitalization of $223.34 billion, a P/E ratio of 22.26 and a beta of 0.62. Procter & Gamble Co. has a 12-month low of $74.46 and a 12-month high of $90.33. The firm’s 50-day moving average is $85.71 and its 200-day moving average is $85.39.

Procter & Gamble Co. (NYSE:PG) last posted its quarterly earnings results on Tuesday, October 25th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.05. The business had revenue of $16.50 billion for the quarter, compared to analysts’ expectations of $16.49 billion. Procter & Gamble Co. had a return on equity of 17.95% and a net margin of 16.27%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the business earned $0.98 earnings per share. On average, analysts predict that Procter & Gamble Co. will post $3.89 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Friday, October 21st were issued a $0.6695 dividend. This represents a $2.68 annualized dividend and a yield of 3.21%. The ex-dividend date was Wednesday, October 19th. Procter & Gamble Co.’s dividend payout ratio is 71.66%.

PG has been the subject of several analyst reports. Vetr raised shares of Procter & Gamble Co. from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a report on Wednesday, October 12th. Jefferies Group set a $93.00 price target on shares of Procter & Gamble Co. and gave the company a “buy” rating in a report on Monday, November 21st. Zacks Investment Research raised shares of Procter & Gamble Co. from a “sell” rating to a “hold” rating and set a $98.00 price target for the company in a report on Friday, October 14th. Johnson Rice raised shares of Procter & Gamble Co. from an “accumulate” rating to a “buy” rating in a report on Friday, August 26th. Finally, Wells Fargo & Co. reissued a “market perform” rating on shares of Procter & Gamble Co. in a report on Tuesday, November 15th. Eleven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Procter & Gamble Co. presently has an average rating of “Buy” and a consensus target price of $91.55.

In other Procter & Gamble Co. news, insider Price Matthew sold 3,081 shares of the stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $86.90, for a total value of $267,738.90. Following the transaction, the insider now owns 14,962 shares of the company’s stock, valued at $1,300,197.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ciserani Giovanni sold 20,000 shares of the stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $88.00, for a total value of $1,760,000.00. Following the completion of the transaction, the insider now directly owns 65,053 shares in the company, valued at approximately $5,724,664. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

About Procter & Gamble Co.

The Procter & Gamble Company is focused on providing branded consumer packaged goods to the consumers across the world. The Company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care, and Baby, Feminine & Family Care. The Company sells its products in approximately 180 countries and territories primarily through mass merchandisers, grocery stores, membership club stores, drug stores, department stores, distributors, baby stores, specialty beauty stores, e-commerce, high-frequency stores and pharmacies.

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