Oppenheimer Asset Management Inc. Reduces Stock Position in The Procter & Gamble Company (NYSE:PG)

Oppenheimer Asset Management Inc. cut its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 31.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 62,603 shares of the company’s stock after selling 29,165 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Procter & Gamble were worth $10,843,000 at the end of the most recent reporting period.

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

Procter & Gamble Price Performance

NYSE:PG opened at $166.56 on Thursday. The Procter & Gamble Company has a 52 week low of $142.50 and a 52 week high of $177.94. The stock’s fifty day moving average is $170.79 and its two-hundred day moving average is $168.29. The company has a market capitalization of $392.26 billion, a P/E ratio of 28.72, a P/E/G ratio of 3.59 and a beta of 0.42. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.03. The firm had revenue of $21.74 billion for the quarter, compared to analyst estimates 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. Equities analysts expect that The Procter & Gamble Company will post 6.94 EPS for the current year.

Procter & Gamble Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be issued a $1.0065 dividend. The ex-dividend date is Friday, October 18th. This represents a $4.03 annualized dividend and a yield of 2.42%. Procter & Gamble’s dividend payout ratio (DPR) is presently 69.48%.

Insider Buying and Selling at Procter & Gamble

In related news, insider Susan Street Whaley sold 450 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $169.22, for a total transaction of $76,149.00. Following the transaction, the insider now owns 13,072 shares of the company’s stock, valued at approximately $2,212,043.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Balaji Purushothaman sold 12,800 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the sale, the insider now owns 11,566 shares of the company’s stock, valued at approximately $1,954,538.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Susan Street Whaley sold 450 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total value of $76,149.00. Following the completion of the sale, the insider now owns 13,072 shares in the company, valued at approximately $2,212,043.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 313,597 shares of company stock valued at $53,268,499 over the last quarter. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PG shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Procter & Gamble from $171.00 to $176.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. DZ Bank upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a research note on Thursday, August 29th. Royal Bank of Canada restated a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a research report on Monday, October 21st. Wolfe Research raised Procter & Gamble to a “strong-buy” rating in a research note on Friday, August 23rd. Finally, DA Davidson increased their price objective on Procter & Gamble from $159.00 to $160.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $177.00.

About Procter & Gamble

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.