Drive Wealth Management LLC Grows Stake in The Procter & Gamble Company (NYSE:PG)

Drive Wealth Management LLC lifted its position in shares of The Procter & Gamble Company (NYSE:PG) by 1.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,969 shares of the company’s stock after buying an additional 129 shares during the quarter. Drive Wealth Management LLC’s holdings in Procter & Gamble were worth $1,380,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Concurrent Investment Advisors LLC boosted its position in Procter & Gamble by 4.5% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock valued at $16,300,000 after acquiring an additional 4,035 shares in the last quarter. Radnor Capital Management LLC purchased a new stake in shares of Procter & Gamble during the 3rd quarter worth $5,705,000. Welch Group LLC boosted its position in Procter & Gamble by 0.9% during the third quarter. Welch Group LLC now owns 323,870 shares of the company’s stock valued at $56,094,000 after purchasing an additional 2,990 shares in the last quarter. GAMMA Investing LLC grew its stake in Procter & Gamble by 67.2% in the second quarter. GAMMA Investing LLC now owns 26,803 shares of the company’s stock valued at $4,420,000 after purchasing an additional 10,777 shares during the last quarter. Finally, Curi RMB Capital LLC boosted its holdings in shares of Procter & Gamble by 20.3% in the 3rd quarter. Curi RMB Capital LLC now owns 21,655 shares of the company’s stock valued at $3,751,000 after buying an additional 3,652 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Insider Activity at Procter & Gamble

In related news, insider Susan Street Whaley sold 450 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total transaction of $76,149.00. Following the completion of the sale, the insider now owns 13,072 shares of the company’s stock, valued at approximately $2,212,043.84. This represents a 3.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jon R. Moeller sold 37,240 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $168.89, for a total value of $6,289,463.60. Following the transaction, the chief executive officer now owns 263,537 shares in the company, valued at approximately $44,508,763.93. This represents a 12.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 313,597 shares of company stock valued at $53,268,499. 0.18% of the stock is owned by insiders.

Procter & Gamble Trading Up 1.5 %

Shares of NYSE:PG opened at $169.54 on Monday. The firm has a market capitalization of $399.27 billion, a price-to-earnings ratio of 29.23, a price-to-earnings-growth ratio of 3.67 and a beta of 0.42. The business’s 50 day moving average price is $170.32 and its 200-day moving average price is $168.40. 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 Procter & Gamble Company has a 1 year low of $142.50 and a 1 year high of $177.94.

Procter & Gamble (NYSE:PG) last announced its earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $21.99 billion. During the same quarter last year, the business earned $1.83 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. On average, equities research analysts forecast that The Procter & Gamble Company will post 6.94 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were given a $1.0065 dividend. The ex-dividend date was Friday, October 18th. This represents a $4.03 annualized dividend and a dividend yield of 2.37%. Procter & Gamble’s dividend payout ratio (DPR) is presently 69.48%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PG shares. Jefferies Financial Group lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $182.00 to $175.00 in a research note on Wednesday, July 24th. Dbs Bank downgraded shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $164.00 price target on shares of Procter & Gamble in a report on Monday, October 21st. Barclays lowered shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price objective on the stock. in a report on Monday, September 30th. Finally, Morgan Stanley increased their price objective on Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Nine investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $177.00.

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.