The Procter & Gamble Company (NYSE:PG) Shares Bought by Gateway Wealth Partners LLC

Gateway Wealth Partners LLC lifted its stake in The Procter & Gamble Company (NYSE:PG) by 12.2% in the second quarter, HoldingsChannel reports. The fund owned 2,227 shares of the company’s stock after purchasing an additional 243 shares during the quarter. Gateway Wealth Partners LLC’s holdings in Procter & Gamble were worth $367,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Wallace Capital Management Inc. lifted its stake in Procter & Gamble by 2.7% during the second quarter. Wallace Capital Management Inc. now owns 25,391 shares of the company’s stock valued at $4,187,000 after purchasing an additional 678 shares during the last quarter. Regal Investment Advisors LLC lifted its stake in Procter & Gamble by 4.7% during the second quarter. Regal Investment Advisors LLC now owns 94,073 shares of the company’s stock valued at $15,515,000 after purchasing an additional 4,238 shares during the last quarter. Quarry LP lifted its stake in Procter & Gamble by 177.0% during the second quarter. Quarry LP now owns 820 shares of the company’s stock valued at $135,000 after purchasing an additional 524 shares during the last quarter. Invst LLC lifted its stake in Procter & Gamble by 7.3% during the second quarter. Invst LLC now owns 15,786 shares of the company’s stock valued at $2,569,000 after purchasing an additional 1,079 shares during the last quarter. Finally, Second Line Capital LLC raised its holdings in shares of Procter & Gamble by 27.2% during the second quarter. Second Line Capital LLC now owns 2,791 shares of the company’s stock valued at $460,000 after acquiring an additional 597 shares during the period. 65.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PG has been the topic of a number of recent analyst reports. Citigroup boosted their price target on shares of Procter & Gamble from $177.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Evercore ISI boosted their price target on shares of Procter & Gamble from $177.00 to $183.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Royal Bank of Canada boosted their price target on shares of Procter & Gamble from $157.00 to $164.00 and gave the company a “sector perform” rating in a report on Wednesday, July 31st. TD Cowen initiated coverage on shares of Procter & Gamble in a report on Tuesday, July 23rd. They set a “buy” rating and a $189.00 price target on the stock. Finally, BNP Paribas assumed coverage on shares of Procter & Gamble in a report on Monday, June 24th. They set an “outperform” rating and a $187.00 price target on the stock. Nine analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Procter & Gamble presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.89.

Procter & Gamble Price Performance

Shares of Procter & Gamble stock opened at $173.14 on Tuesday. The firm has a fifty day moving average price of $170.88 and a two-hundred day moving average price of $166.28. The company has a market cap of $408.63 billion, a PE ratio of 28.29, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a fifty-two week low of $141.45 and a fifty-two week high of $177.94. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.53.

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

Procter & Gamble Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were issued a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Friday, July 19th. Procter & Gamble’s payout ratio is 65.69%.

Insider Transactions at Procter & Gamble

In related news, insider Balaji Purushothaman sold 8,842 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 11,537 shares in the company, valued at approximately $1,902,451.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Procter & Gamble news, insider Balaji Purushothaman sold 8,842 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $164.90, for a total value of $1,458,045.80. Following the completion of the sale, the insider now owns 11,537 shares in the company, valued at approximately $1,902,451.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jon R. Moeller sold 37,240 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $168.89, for a total transaction of $6,289,463.60. Following the completion of the sale, the chief executive officer now owns 263,537 shares of the company’s stock, valued at approximately $44,508,763.93. The disclosure for this sale can be found here. In the last three months, insiders sold 375,553 shares of company stock valued at $63,829,141. Company insiders own 0.17% of the company’s stock.

About Procter & Gamble

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.