Fifth Third Wealth Advisors LLC Purchases 2,937 Shares of The Procter & Gamble Company (NYSE:PG)

Fifth Third Wealth Advisors LLC increased its position in The Procter & Gamble Company (NYSE:PG) by 8.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 37,479 shares of the company’s stock after buying an additional 2,937 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Procter & Gamble were worth $6,491,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new position in Procter & Gamble during the 2nd quarter worth approximately $28,000. Fairway Wealth LLC bought a new stake in Procter & Gamble in the 2nd quarter worth $29,000. POM Investment Strategies LLC bought a new position in shares of Procter & Gamble during the second quarter valued at about $34,000. Quest Partners LLC purchased a new stake in shares of Procter & Gamble during the second quarter worth about $36,000. Finally, Fairfield Financial Advisors LTD bought a new stake in shares of Procter & Gamble in the second quarter worth about $44,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Piper Sandler began coverage on shares of Procter & Gamble in a report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price target on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $164.00 price objective on shares of Procter & Gamble in a research note on Monday, October 21st. Barclays cut Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price target for the company. in a research note on Monday, September 30th. Dbs Bank cut shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, TD Cowen initiated coverage on Procter & Gamble in a report on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 target price on the stock. Nine research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $177.00.

Procter & Gamble Stock Up 0.7 %

PG opened at $170.80 on Tuesday. The firm has a 50-day simple moving average of $170.21 and a two-hundred day simple moving average of $168.45. The Procter & Gamble Company has a 52 week low of $142.50 and a 52 week high of $177.94. The company has a market capitalization of $402.24 billion, a PE ratio of 29.45, a price-to-earnings-growth ratio of 3.67 and a beta of 0.42. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Friday, October 18th. The company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.90 by $0.03. The business 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%. Procter & Gamble’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business earned $1.83 earnings per share. Analysts forecast that The Procter & Gamble Company will post 6.94 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were issued a dividend of $1.0065 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $4.03 annualized dividend and a yield of 2.36%. Procter & Gamble’s payout ratio is presently 69.48%.

Insider Buying and Selling

In other Procter & Gamble news, CEO Ma. Fatima Francisco sold 96,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 13,721 shares in the company, valued at $2,332,570. This represents a 87.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Susan Street Whaley sold 634 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total transaction of $108,826.10. Following the completion of the sale, the insider now owns 19,341 shares of the company’s stock, valued at approximately $3,319,882.65. This represents a 3.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 270,727 shares of company stock valued at $46,014,037 in the last ninety days. 0.18% of the stock is owned by company insiders.

Procter & Gamble Company 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.