Truepoint Inc. Trims Stake in The Procter & Gamble Company (NYSE:PG)

Truepoint Inc. reduced its position in The Procter & Gamble Company (NYSE:PG) by 5.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 118,362 shares of the company’s stock after selling 7,341 shares during the quarter. Procter & Gamble accounts for approximately 0.6% of Truepoint Inc.’s holdings, making the stock its 23rd biggest holding. Truepoint Inc.’s holdings in Procter & Gamble were worth $19,520,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PG. Advantage Trust Co bought a new position in Procter & Gamble in the 4th quarter worth about $28,000. Transcendent Capital Group LLC bought a new position in Procter & Gamble in the 4th quarter worth about $31,000. Ruedi Wealth Management Inc. grew its stake in Procter & Gamble by 64.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock worth $32,000 after acquiring an additional 77 shares in the last quarter. POM Investment Strategies LLC bought a new position in Procter & Gamble in the 2nd quarter worth about $34,000. Finally, Vima LLC bought a new position in Procter & Gamble in the 4th quarter worth about $35,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Balaji Purushothaman sold 8,842 shares of the firm’s stock in a transaction on 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 owns 11,537 shares in the company, valued at $1,902,451.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Andre Schulten sold 13,041 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $170.00, for a total transaction of $2,216,970.00. Following the sale, the chief financial officer now owns 37,208 shares in the company, valued at $6,325,360. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Balaji Purushothaman sold 8,842 shares of the firm’s stock in a transaction on 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 owns 11,537 shares in the company, valued at approximately $1,902,451.30. The disclosure for this sale can be found here. Insiders sold a total of 375,553 shares of company stock valued at $63,829,141 over the last 90 days. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PG shares. Barclays dropped their price objective on shares of Procter & Gamble from $174.00 to $163.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. DZ Bank upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective on the stock in a research note on Thursday, August 29th. StockNews.com downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Citigroup increased their price objective on shares of Procter & Gamble from $177.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Procter & Gamble from $181.00 to $179.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $175.79.

Procter & Gamble Trading Up 0.4 %

NYSE PG opened at $176.14 on Friday. The company has a fifty day simple moving average of $168.05 and a two-hundred day simple moving average of $164.52. The stock has a market cap of $415.72 billion, a P/E ratio of 28.67, a P/E/G ratio of 3.72 and a beta of 0.41. The Procter & Gamble Company has a 12-month low of $141.45 and a 12-month high of $176.55. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.51.

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

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Friday, July 19th were issued a dividend of $1.0065 per share. The ex-dividend date was Friday, July 19th. This represents a $4.03 annualized dividend and a dividend yield of 2.29%. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.85%.

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.