Modera Wealth Management LLC Reduces Position in The Procter & Gamble Company (NYSE:PG)

Modera Wealth Management LLC reduced its position in The Procter & Gamble Company (NYSE:PG) by 1.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 160,308 shares of the company’s stock after selling 3,050 shares during the quarter. Modera Wealth Management LLC’s holdings in Procter & Gamble were worth $26,438,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PG. Norges Bank bought a new stake in Procter & Gamble in the fourth quarter valued at about $3,956,117,000. TD Asset Management Inc increased its holdings in Procter & Gamble by 114.9% in the first quarter. TD Asset Management Inc now owns 3,568,671 shares of the company’s stock valued at $579,017,000 after buying an additional 1,907,716 shares during the last quarter. Swedbank AB bought a new stake in Procter & Gamble in the first quarter valued at about $233,788,000. Ilex Capital Partners UK LLP bought a new stake in Procter & Gamble in the first quarter valued at about $228,212,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Procter & Gamble by 32.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,615,906 shares of the company’s stock valued at $830,256,000 after buying an additional 1,385,146 shares during the last quarter. 65.77% of the stock is owned by institutional investors.

Procter & Gamble Price Performance

PG traded up $1.50 during trading on Friday, reaching $171.53. The stock had a trading volume of 7,301,578 shares, compared to its average volume of 6,572,756. The firm has a market capitalization of $404.83 billion, a price-to-earnings ratio of 28.03, a price-to-earnings-growth ratio of 3.64 and a beta of 0.41. The company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 0.51. The Procter & Gamble Company has a 1-year low of $141.45 and a 1-year high of $171.89. The stock has a 50 day moving average of $167.42 and a two-hundred day moving average of $163.93.

Procter & Gamble (NYSE:PG) last released its earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.03. The firm had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $20.69 billion. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.37 earnings per share. As a group, equities analysts anticipate that The Procter & Gamble Company will post 6.97 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were given a $1.0065 dividend. The ex-dividend date of this dividend was Friday, July 19th. This represents a $4.03 dividend on an annualized basis and a yield of 2.35%. Procter & Gamble’s dividend payout ratio (DPR) is 65.69%.

Insiders Place Their Bets

In other Procter & Gamble news, CEO Jon R. Moeller sold 37,240 shares of the company’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 transaction, the chief executive officer now owns 263,537 shares of the company’s stock, valued at $44,508,763.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Procter & Gamble news, insider Balaji Purushothaman sold 8,842 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $164.90, for a total value of $1,458,045.80. Following the transaction, the insider now owns 11,537 shares of the company’s stock, valued at $1,902,451.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jon R. Moeller sold 37,240 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were 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 directly owns 263,537 shares in the company, valued at approximately $44,508,763.93. The disclosure for this sale can be found here. Insiders sold 375,553 shares of company stock worth $63,829,141 over the last ninety days. Company insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PG shares. Deutsche Bank Aktiengesellschaft lifted their target price on Procter & Gamble from $171.00 to $176.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Evercore ISI lifted their target price on Procter & Gamble from $177.00 to $183.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. BNP Paribas started coverage on Procter & Gamble in a research note on Monday, June 24th. They issued an “outperform” rating and a $187.00 target price for the company. Citigroup lifted their target price on 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. decreased their target price on Procter & Gamble from $181.00 to $179.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $175.79.

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.