Wallace Advisory Group LLC Increases Holdings in The Procter & Gamble Company (NYSE:PG)

Wallace Advisory Group LLC boosted its position in shares of The Procter & Gamble Company (NYSE:PG) by 5.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,007 shares of the company’s stock after purchasing an additional 144 shares during the quarter. Wallace Advisory Group LLC’s holdings in Procter & Gamble were worth $496,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. William B. Walkup & Associates Inc. bought a new position in shares of Procter & Gamble in the 2nd quarter worth $58,000. Granite FO LLC purchased a new position in Procter & Gamble in the second quarter valued at about $371,000. NewEdge Advisors LLC raised its holdings in Procter & Gamble by 5.8% in the second quarter. NewEdge Advisors LLC now owns 253,210 shares of the company’s stock worth $41,760,000 after purchasing an additional 13,785 shares in the last quarter. Silver Lake Advisory LLC lifted its position in shares of Procter & Gamble by 1.4% during the second quarter. Silver Lake Advisory LLC now owns 12,990 shares of the company’s stock valued at $2,142,000 after buying an additional 181 shares during the last quarter. Finally, Magnolia Capital Advisors LLC bought a new stake in shares of Procter & Gamble in the 2nd quarter valued at about $4,466,000. 65.77% of the stock is owned by institutional investors.

Procter & Gamble Stock Performance

NYSE PG opened at $173.55 on Monday. The Procter & Gamble Company has a fifty-two week low of $141.45 and a fifty-two week high of $177.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.53 and a current ratio of 0.73. The firm has a market capitalization of $409.60 billion, a P/E ratio of 28.36, a PEG ratio of 3.76 and a beta of 0.41. The stock has a 50-day simple moving average of $170.79 and a two-hundred day simple moving average of $166.20.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.03. The company had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $20.69 billion. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. Procter & Gamble’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the company posted $1.37 earnings per share. On average, equities analysts forecast that The Procter & Gamble Company will post 6.97 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Friday, July 19th were given a dividend of $1.0065 per share. The ex-dividend date of this dividend was Friday, July 19th. This represents a $4.03 annualized dividend and a yield of 2.32%. Procter & Gamble’s dividend payout ratio is presently 65.85%.

Insider Buying and Selling at Procter & Gamble

In other news, insider Balaji Purushothaman sold 8,842 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the sale, the insider now directly owns 11,537 shares of the company’s stock, valued at approximately $1,902,451.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Balaji Purushothaman sold 8,842 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the transaction, the insider now owns 11,537 shares in the company, valued at approximately $1,902,451.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Susan Street Whaley sold 450 shares of Procter & Gamble stock in a transaction on 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 directly owns 13,072 shares in the company, valued at approximately $2,212,043.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 375,553 shares of company stock valued at $63,829,141. Corporate insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Dbs Bank cut shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Evercore ISI increased their price objective on Procter & Gamble from $177.00 to $183.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Piper Sandler started coverage on Procter & Gamble in a research note on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price on the stock. Barclays decreased their price target on Procter & Gamble from $174.00 to $163.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Procter & Gamble from $171.00 to $176.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Eight analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Procter & Gamble currently has an average rating of “Moderate Buy” and a consensus target price of $175.89.

About Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.