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

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

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

Procter & Gamble Stock Performance

Shares of Procter & Gamble stock opened at $170.92 on Thursday. The stock has a market capitalization 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 firm’s fifty day simple moving average is $170.01 and its 200-day simple moving average is $168.51. 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 Procter & Gamble Company has a 12 month low of $142.50 and a 12 month high of $177.94.

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

Procter & Gamble Announces Dividend

The business also recently declared 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 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 news, insider Balaji Purushothaman sold 12,800 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $168.99, for a total value of $2,163,072.00. Following the completion of the sale, the insider now directly owns 11,566 shares of the company’s stock, valued at $1,954,538.34. This trade represents a 52.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Susan Street Whaley sold 634 shares of Procter & Gamble stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $108,826.10. Following the completion of the sale, the insider now owns 19,341 shares in the company, valued at approximately $3,319,882.65. This trade represents a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 174,727 shares of company stock worth $29,694,037 in the last three months. Insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Evercore ISI upped their price objective on Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Piper Sandler assumed coverage on Procter & Gamble in a report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price target for the company. Barclays lowered Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price objective on the stock. in a report on Monday, September 30th. JPMorgan Chase & Co. increased their target price on Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $164.00 price target on shares of Procter & Gamble in a research note on Monday, October 21st. Nine equities research 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.