Providence Capital Advisors LLC Decreases Stake in The Procter & Gamble Company (NYSE:PG)

Providence Capital Advisors LLC reduced its position in The Procter & Gamble Company (NYSE:PG) by 10.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,512 shares of the company’s stock after selling 409 shares during the period. Providence Capital Advisors LLC’s holdings in Procter & Gamble were worth $608,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new position in Procter & Gamble in the 2nd quarter valued at about $28,000. Fairway Wealth LLC bought a new position in shares of Procter & Gamble during the second quarter worth about $29,000. RPg Family Wealth Advisory LLC bought a new position in shares of Procter & Gamble during the third quarter worth about $33,000. POM Investment Strategies LLC bought a new position in shares of Procter & Gamble during the second quarter worth about $34,000. Finally, Quest Partners LLC bought a new position in shares of Procter & Gamble during the second quarter worth about $36,000. 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 12,800 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total value of $2,163,072.00. Following the completion of the transaction, the insider now owns 11,566 shares of the company’s stock, valued at approximately $1,954,538.34. This trade represents a 52.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Susan Street Whaley sold 634 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total transaction of $108,826.10. Following the completion of the transaction, the insider now directly owns 19,341 shares of the company’s stock, valued at $3,319,882.65. This represents a 3.17 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,233 shares of company stock worth $6,024,234. Corporate insiders own 0.18% of the company’s stock.

Procter & Gamble Trading Up 0.0 %

Procter & Gamble stock opened at $179.34 on Thursday. The firm has a 50 day simple moving average of $170.22 and a 200-day simple moving average of $168.90. 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 has a market capitalization of $422.35 billion, a PE ratio of 30.92, a price-to-earnings-growth ratio of 3.82 and a beta of 0.42. The Procter & Gamble Company has a 12-month low of $142.50 and a 12-month high of $180.43.

Procter & Gamble (NYSE:PG) last issued its earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.03. The firm had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the firm posted $1.83 earnings per share. As a group, equities research analysts expect that The Procter & Gamble Company will post 6.96 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were issued a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date was Friday, October 18th. Procter & Gamble’s payout ratio is 69.48%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. DA Davidson raised shares of Procter & Gamble from a “neutral” rating to a “buy” rating and increased their price target for the stock from $160.00 to $209.00 in a research report on Monday. Royal Bank of Canada reiterated a “sector perform” rating and set a $164.00 price objective on shares of Procter & Gamble in a research note on Monday, October 21st. JPMorgan Chase & Co. increased their price objective on shares of Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Evercore ISI increased their price objective on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Finally, Barclays lowered shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price objective on the stock. in a research note on Monday, September 30th. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $180.45.

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.