Valley Wealth Managers Inc. Sells 478 Shares of The Procter & Gamble Company (NYSE:PG)

Valley Wealth Managers Inc. decreased its holdings in The Procter & Gamble Company (NYSE:PG) by 1.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 26,771 shares of the company’s stock after selling 478 shares during the period. Valley Wealth Managers Inc.’s holdings in Procter & Gamble were worth $4,637,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PG shares. Morgan Stanley lifted their target price on Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. DA Davidson lifted their target price on Procter & Gamble from $159.00 to $160.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Evercore ISI raised their price objective on shares of Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. 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 for the company. Finally, Dbs Bank cut shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. Nine 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.00.

Procter & Gamble Stock Performance

PG stock traded up $0.07 during trading on Friday, reaching $167.15. The stock had a trading volume of 1,123,701 shares, compared to its average volume of 6,637,149. The Procter & Gamble Company has a 52 week low of $142.50 and a 52 week high of $177.94. The stock’s 50 day moving average is $170.44 and its two-hundred day moving average is $168.27. The firm has a market cap of $393.64 billion, a PE ratio of 28.81, a PEG ratio of 3.60 and a beta of 0.42. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last released its 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 company 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 firm’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business earned $1.83 EPS. As a group, equities analysts anticipate that The Procter & Gamble Company will post 6.94 earnings per share for the current year.

Procter & Gamble Announces Dividend

The business 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 $1.0065 dividend. This represents a $4.03 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Friday, October 18th. Procter & Gamble’s payout ratio is 69.48%.

Insider Activity at Procter & Gamble

In other news, insider Balaji Purushothaman sold 12,800 shares of Procter & Gamble 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 transaction, the insider now directly owns 11,566 shares in the company, valued at approximately $1,954,538.34. This trade represents a 52.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jon R. Moeller sold 31,797 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total value of $5,380,688.34. Following the sale, the chief executive officer now directly owns 300,777 shares in the company, valued at approximately $50,897,483.94. The trade was a 9.56 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 313,597 shares of company stock worth $53,268,499. Insiders own 0.18% of the company’s stock.

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.