Balboa Wealth Partners Trims Stock Position in The Procter & Gamble Company (NYSE:PG)

Balboa Wealth Partners trimmed its position in shares of The Procter & Gamble Company (NYSE:PG) by 7.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,734 shares of the company’s stock after selling 454 shares during the quarter. Balboa Wealth Partners’ holdings in Procter & Gamble were worth $993,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Procter & Gamble in the second quarter worth $28,000. Fairway Wealth LLC acquired a new position in Procter & Gamble during the 2nd quarter worth $29,000. POM Investment Strategies LLC acquired a new position in Procter & Gamble during the 2nd quarter worth $34,000. Quest Partners LLC bought a new position in shares of Procter & Gamble in the 2nd quarter worth about $36,000. Finally, Fairfield Financial Advisors LTD bought a new position in shares of Procter & Gamble in the 2nd quarter worth about $44,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on PG. Hsbc Global Res raised shares of Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. Jefferies Financial Group cut shares of Procter & Gamble from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $182.00 to $175.00 in a research note on Wednesday, July 24th. Stifel Nicolaus boosted their target price on shares of Procter & Gamble from $157.00 to $161.00 and gave the stock a “hold” rating in a report on Monday, July 22nd. StockNews.com downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Barclays lowered Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price objective for the company. in a research note on Monday, September 30th. Nine equities 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $177.00.

Insider Transactions at Procter & Gamble

In other news, insider Balaji Purushothaman sold 12,800 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 11,566 shares in the company, valued at $1,954,538.34. This represents a 52.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Susan Street Whaley sold 450 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $169.22, for a total value of $76,149.00. Following the completion of the transaction, the insider now owns 13,072 shares in the company, valued at approximately $2,212,043.84. This trade represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 313,597 shares of company stock worth $53,268,499 in the last quarter. Company insiders own 0.18% of the company’s stock.

Procter & Gamble Price Performance

Procter & Gamble stock opened at $167.08 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50. 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 cap of $393.48 billion, a price-to-earnings ratio of 28.81, a PEG ratio of 3.60 and a beta of 0.42. The firm’s fifty day moving average is $170.61 and its 200 day moving average is $168.28.

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

Procter & Gamble Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders 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 dividend yield of 2.41%. Procter & Gamble’s payout ratio is 69.48%.

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.