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

Sterling Group Wealth Management LLC grew its holdings in The Procter & Gamble Company (NYSE:PG) by 5.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,832 shares of the company’s stock after acquiring an additional 97 shares during the quarter. Sterling Group Wealth Management LLC’s holdings in Procter & Gamble were worth $278,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. BlackRock Inc. boosted its position in shares of Procter & Gamble by 1.4% in the 1st quarter. BlackRock Inc. now owns 161,843,254 shares of the company’s stock valued at $24,064,473,000 after purchasing an additional 2,157,319 shares during the period. Geode Capital Management LLC lifted its position in Procter & Gamble by 1.1% during the 1st quarter. Geode Capital Management LLC now owns 46,754,131 shares of the company’s stock worth $6,936,343,000 after acquiring an additional 510,559 shares during the period. Morgan Stanley lifted its holdings in shares of Procter & Gamble by 12.6% in the 4th quarter. Morgan Stanley now owns 44,320,700 shares of the company’s stock valued at $6,717,246,000 after buying an additional 4,959,527 shares during the period. Moneta Group Investment Advisors LLC lifted its holdings in shares of Procter & Gamble by 96,526.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 38,535,557 shares of the company’s stock valued at $5,840,449,000 after buying an additional 38,495,676 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of Procter & Gamble by 1.6% in the 1st quarter. Wellington Management Group LLP now owns 33,776,598 shares of the company’s stock valued at $5,022,242,000 after buying an additional 547,738 shares during the period. Hedge funds and other institutional investors own 63.43% of the company’s stock.

Insider Activity

In other news, CEO R. Alexandra Keith sold 781 shares of Procter & Gamble stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $152.82, for a total value of $119,352.42. Following the completion of the sale, the chief executive officer now owns 6,310 shares of the company’s stock, valued at $964,294.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Gary A. Coombe sold 10,094 shares of Procter & Gamble stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $154.00, for a total value of $1,554,476.00. Following the transaction, the chief executive officer now owns 36,896 shares in the company, valued at $5,681,984. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO R. Alexandra Keith sold 781 shares of Procter & Gamble stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $152.82, for a total value of $119,352.42. Following the completion of the transaction, the chief executive officer now owns 6,310 shares in the company, valued at approximately $964,294.20. The disclosure for this sale can be found here. Insiders sold a total of 106,607 shares of company stock valued at $16,523,793 over the last quarter. Company insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Barclays raised their price target on Procter & Gamble from $160.00 to $166.00 and gave the company an “overweight” rating in a report on Tuesday, August 1st. Royal Bank of Canada raised their price target on Procter & Gamble from $165.00 to $167.00 and gave the company a “sector perform” rating in a report on Monday, July 31st. StockNews.com cut Procter & Gamble from a “buy” rating to a “hold” rating in a report on Saturday. William Blair assumed coverage on Procter & Gamble in a report on Friday, September 8th. They issued a “market perform” rating for the company. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. raised their price objective on Procter & Gamble from $164.00 to $172.00 in a research note on Friday, July 28th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.82.

Procter & Gamble Stock Performance

Procter & Gamble stock opened at $153.46 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.44 and a current ratio of 0.63. The stock has a fifty day moving average of $153.26 and a two-hundred day moving average of $150.09. The company has a market capitalization of $361.75 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 3.85 and a beta of 0.42. The Procter & Gamble Company has a fifty-two week low of $122.18 and a fifty-two week high of $158.38.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Friday, July 28th. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.05. The company had revenue of $20.60 billion during the quarter, compared to the consensus estimate of $20.01 billion. Procter & Gamble had a return on equity of 32.88% and a net margin of 17.87%. Procter & Gamble’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.21 earnings per share. On average, analysts anticipate that The Procter & Gamble Company will post 6.38 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Friday, July 21st were given a $0.9407 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Thursday, July 20th. Procter & Gamble’s dividend payout ratio is currently 63.73%.

Procter & Gamble Company Profile

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.