The Procter & Gamble Company (NYSE:PG) is Rench Wealth Management Inc.’s 6th Largest Position

Rench Wealth Management Inc. cut its position in shares of The Procter & Gamble Company (NYSE:PG) by 1.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,832 shares of the company’s stock after selling 954 shares during the quarter. Procter & Gamble accounts for about 3.3% of Rench Wealth Management Inc.’s investment portfolio, making the stock its 6th largest holding. Rench Wealth Management Inc.’s holdings in Procter & Gamble were worth $9,670,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Reynders McVeigh Capital Management LLC increased its position in Procter & Gamble by 0.5% in the third quarter. Reynders McVeigh Capital Management LLC now owns 153,639 shares of the company’s stock worth $26,610,000 after buying an additional 712 shares during the period. IHT Wealth Management LLC grew its holdings in Procter & Gamble by 38.9% during the third quarter. IHT Wealth Management LLC now owns 79,384 shares of the company’s stock worth $13,740,000 after acquiring an additional 22,230 shares during the period. Investmark Advisory Group LLC grew its holdings in Procter & Gamble by 1.6% during the third quarter. Investmark Advisory Group LLC now owns 26,237 shares of the company’s stock worth $4,544,000 after acquiring an additional 405 shares during the period. Investment Management Corp of Ontario grew its holdings in Procter & Gamble by 26.9% during the third quarter. Investment Management Corp of Ontario now owns 122,045 shares of the company’s stock worth $21,138,000 after acquiring an additional 25,900 shares during the period. Finally, Itau Unibanco Holding S.A. grew its holdings in Procter & Gamble by 138.7% during the third quarter. Itau Unibanco Holding S.A. now owns 401 shares of the company’s stock worth $69,000 after acquiring an additional 233 shares during the period. 65.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Jon R. Moeller sold 7,007 shares of the company’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 $1,202,751.55. Following the completion of the transaction, the chief executive officer now directly owns 269,172 shares in the company, valued at $46,203,373.80. The trade was a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gary A. Coombe sold 47,847 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $179.84, for a total value of $8,604,804.48. Following the transaction, the chief executive officer now owns 39,977 shares of the company’s stock, valued at approximately $7,189,463.68. This trade represents a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,080 shares of company stock worth $14,629,038. 0.18% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on PG. Hsbc Global Res upgraded Procter & Gamble to a “strong-buy” rating in a research report on Friday, October 4th. Wells Fargo & Company increased their price target on Procter & Gamble from $188.00 to $190.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $164.00 price target on shares of Procter & Gamble in a research report on Monday, October 21st. DA Davidson upgraded Procter & Gamble from a “neutral” rating to a “buy” rating and increased their price target for the company from $160.00 to $209.00 in a research report on Monday, November 25th. Finally, DZ Bank upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price target for the company in a research report on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Procter & Gamble currently has an average rating of “Moderate Buy” and an average price target of $180.45.

Procter & Gamble Stock Down 0.2 %

Shares of Procter & Gamble stock opened at $175.11 on Thursday. The firm has a market cap of $412.39 billion, a price-to-earnings ratio of 30.19, a P/E/G ratio of 3.78 and a beta of 0.44. 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 52-week low of $142.50 and a 52-week high of $180.43. The stock has a 50-day simple moving average of $170.70 and a 200-day simple moving average of $169.29.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results 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. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The business had revenue of $21.74 billion during the quarter, compared to analyst estimates of $21.99 billion. During the same period in the previous year, the company earned $1.83 EPS. The firm’s revenue was down .6% on a year-over-year basis. On average, equities research analysts expect that The Procter & Gamble Company will post 6.97 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were issued a $1.0065 dividend. The ex-dividend date was Friday, October 18th. This represents a $4.03 annualized dividend and a yield of 2.30%. Procter & Gamble’s dividend payout ratio (DPR) is currently 69.48%.

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.