Icon Wealth Advisors LLC Grows Stake in The Procter & Gamble Company (NYSE:PG)

Icon Wealth Advisors LLC grew its holdings in The Procter & Gamble Company (NYSE:PG) by 4,621.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,285,923 shares of the company’s stock after purchasing an additional 1,258,690 shares during the period. Procter & Gamble comprises about 8.4% of Icon Wealth Advisors LLC’s investment portfolio, making the stock its 2nd biggest holding. Icon Wealth Advisors LLC owned 0.05% of Procter & Gamble worth $222,722,000 at the end of the most recent quarter.

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

Procter & Gamble Price Performance

Shares of Procter & Gamble stock opened at $172.68 on Friday. The stock has a 50 day moving average of $170.00 and a 200 day moving average of $168.54. The Procter & Gamble Company has a 12 month low of $142.50 and a 12 month high of $177.94. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The firm has a market cap of $406.67 billion, a PE ratio of 29.77, a PEG ratio of 3.69 and a beta of 0.42.

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. On average, research analysts expect that The Procter & Gamble Company will post 6.94 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were given a dividend of $1.0065 per share. The ex-dividend date was Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a yield of 2.33%. Procter & Gamble’s dividend payout ratio (DPR) is presently 69.48%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PG. Royal Bank of Canada reiterated a “sector perform” rating and issued a $164.00 price objective on shares of Procter & Gamble in a research note on Monday, October 21st. StockNews.com downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Hsbc Global Res raised shares of Procter & Gamble to a “strong-buy” rating in a research report on Friday, October 4th. Barclays cut Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 target price on the stock. in a report on Monday, September 30th. Finally, DZ Bank raised Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price target for the company in a report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $177.00.

Insider Transactions at Procter & Gamble

In other news, CEO Jon R. Moeller sold 37,240 shares of the 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 sale, the chief executive officer now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Balaji Purushothaman sold 12,800 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total value of $2,163,072.00. Following the completion of the transaction, the insider now directly owns 11,566 shares in the company, valued at $1,954,538.34. This trade represents a 52.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 160,693 shares of company stock worth $27,311,345. 0.18% of the stock is currently owned by company insiders.

About Procter & Gamble

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.