Connable Office Inc. Boosts Holdings in The Procter & Gamble Company (NYSE:PG)

Connable Office Inc. increased its position in The Procter & Gamble Company (NYSE:PG) by 0.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 25,005 shares of the company’s stock after buying an additional 122 shares during the quarter. Connable Office Inc.’s holdings in Procter & Gamble were worth $4,331,000 as of its most recent SEC filing.

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

Insider Activity

In other news, CEO R. Alexandra Keith sold 1,992 shares of the business’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $170.00, for a total transaction of $338,640.00. Following the sale, the chief executive officer now directly owns 13,783 shares of the company’s stock, valued at $2,343,110. The trade was a 12.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 dated Tuesday, August 20th. The stock was sold at an average price of $169.22, for a total value of $76,149.00. Following the completion of the transaction, the insider now directly owns 13,072 shares in the company, valued at $2,212,043.84. This represents a 3.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 313,597 shares of company stock worth $53,268,499 over the last 90 days. 0.18% of the stock is currently owned by company insiders.

Procter & Gamble Trading Up 0.3 %

Shares of PG stock opened at $167.08 on Friday. The firm has a market capitalization of $393.48 billion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 3.60 and a beta of 0.42. The stock has a fifty day moving average of $170.61 and a two-hundred day moving average of $168.28. The Procter & Gamble Company has a 1 year low of $142.50 and a 1 year high of $177.94. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75.

Procter & Gamble (NYSE:PG) last released its quarterly 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 the consensus estimate of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. Procter & Gamble’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.83 EPS. As a group, research analysts expect that The Procter & Gamble Company will post 6.94 EPS for the current year.

Procter & Gamble Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be given a dividend of $1.0065 per share. 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 dividend payout ratio (DPR) is presently 69.48%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PG shares. Piper Sandler initiated coverage on Procter & Gamble in a report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price objective for the company. Dbs Bank lowered Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Wolfe Research upgraded Procter & Gamble to a “strong-buy” rating in a research note on Friday, August 23rd. Morgan Stanley increased their target price on shares of Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Finally, Stifel Nicolaus raised their price target on shares of Procter & Gamble from $157.00 to $161.00 and gave the stock a “hold” rating in a research report on Monday, July 22nd. Nine equities research 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.00.

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.