Acorn Wealth Advisors LLC Boosts Stake in The Procter & Gamble Company (NYSE:PG)

Acorn Wealth Advisors LLC increased its position in The Procter & Gamble Company (NYSE:PG) by 16.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,132 shares of the company’s stock after buying an additional 710 shares during the period. Acorn Wealth Advisors LLC’s holdings in Procter & Gamble were worth $889,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of brokerages have issued reports on PG. Barclays downgraded Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price objective on the stock. in a research report on Monday, September 30th. Hsbc Global Res upgraded Procter & Gamble to a “strong-buy” rating in a research report on Friday, October 4th. Morgan Stanley increased their price target on Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Wells Fargo & Company increased their price target on Procter & Gamble from $188.00 to $190.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Wolfe Research upgraded Procter & Gamble to a “strong-buy” rating in a report on Friday, August 23rd. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $180.45.

Insider Transactions at Procter & Gamble

In related news, insider Balaji Purushothaman sold 12,800 shares of the firm’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 completion of the transaction, the insider now owns 11,566 shares in the company, valued at $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 is available at this link. Also, CEO Jon R. Moeller sold 37,240 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 263,537 shares of the company’s stock, valued at $44,508,763.93. This trade represents a 12.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 72,473 shares of company stock valued at $12,313,697 in the last quarter. 0.18% of the stock is currently owned by corporate insiders.

Procter & Gamble Stock Up 1.2 %

NYSE PG traded up $2.11 during midday trading on Monday, hitting $178.39. 960,716 shares of the company traded hands, compared to its average volume of 6,664,559. 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 company has a market cap of $420.12 billion, a PE ratio of 30.39, a price-to-earnings-growth ratio of 3.81 and a beta of 0.42. The company’s 50-day simple moving average is $170.04 and its 200-day simple moving average is $168.66. The Procter & Gamble Company has a 52 week low of $142.50 and a 52 week high of $178.82.

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. The business had revenue of $21.74 billion for the quarter, compared to analysts’ expectations of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm earned $1.83 EPS. As a group, equities research analysts forecast that The Procter & Gamble Company will post 6.94 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.26%. Procter & Gamble’s payout ratio is 69.48%.

Procter & Gamble 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.