LPL Financial LLC Purchases 96,314 Shares of The Procter & Gamble Company (NYSE:PG)

LPL Financial LLC boosted its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 3.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,127,615 shares of the company’s stock after buying an additional 96,314 shares during the period. LPL Financial LLC owned approximately 0.13% of Procter & Gamble worth $541,703,000 as of its most recent SEC filing.

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

Procter & Gamble Price Performance

PG opened at $170.92 on Thursday. 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 stock’s 50 day simple moving average is $170.01 and its 200 day simple moving average is $168.51. The firm has a market cap of $402.52 billion, a price-to-earnings ratio of 29.47, a PEG ratio of 3.69 and a beta of 0.42. The Procter & Gamble Company has a 1 year low of $142.50 and a 1 year high of $177.94.

Procter & Gamble (NYSE:PG) last announced its earnings results on Friday, October 18th. The company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. The company had revenue of $21.74 billion during the quarter, compared to the consensus estimate of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.83 earnings per share. As a group, analysts predict that The Procter & Gamble Company will post 6.94 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were given a $1.0065 dividend. This represents a $4.03 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Friday, October 18th. Procter & Gamble’s dividend payout ratio is presently 69.48%.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, CFO Andre Schulten sold 13,041 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $170.00, for a total value of $2,216,970.00. Following the transaction, the chief financial officer now directly owns 37,208 shares in the company, valued at approximately $6,325,360. This trade represents a 25.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Susan Street Whaley sold 634 shares of Procter & Gamble stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $108,826.10. Following the transaction, the insider now directly owns 19,341 shares in the company, valued at approximately $3,319,882.65. The trade was a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 174,727 shares of company stock valued at $29,694,037 over the last 90 days. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PG shares. JPMorgan Chase & Co. boosted their price objective on Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. Piper Sandler initiated coverage on shares of Procter & Gamble in a report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price target on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $164.00 price objective on shares of Procter & Gamble in a research report on Monday, October 21st. Wolfe Research upgraded shares of Procter & Gamble to a “strong-buy” rating in a research note on Friday, August 23rd. Finally, Barclays lowered shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price target for the company. in a research note on Monday, September 30th. Nine analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $177.00.

Procter & Gamble Company 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.