Financial Gravity Asset Management Inc. Makes New Investment in Procter & Gamble Company (The) (NYSE:PG)

Financial Gravity Asset Management Inc. purchased a new position in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,628 shares of the company's stock, valued at approximately $2,322,000.

A number of other large investors also recently modified their holdings of the company. Alps Advisors Inc. grew its stake in shares of Procter & Gamble by 3.6% in the first quarter. Alps Advisors Inc. now owns 133,288 shares of the company's stock valued at $22,715,000 after buying an additional 4,633 shares in the last quarter. Round Rock Advisors LLC grew its stake in shares of Procter & Gamble by 6.4% during the first quarter. Round Rock Advisors LLC now owns 6,151 shares of the company's stock valued at $1,048,000 after acquiring an additional 370 shares in the last quarter. Allworth Financial LP increased its position in shares of Procter & Gamble by 4.2% during the first quarter. Allworth Financial LP now owns 309,615 shares of the company's stock worth $49,393,000 after acquiring an additional 12,607 shares during the last quarter. POM Investment Strategies LLC lifted its stake in shares of Procter & Gamble by 413.1% in the first quarter. POM Investment Strategies LLC now owns 313 shares of the company's stock worth $53,000 after acquiring an additional 252 shares in the last quarter. Finally, Main Street Research LLC boosted its holdings in Procter & Gamble by 2.9% in the first quarter. Main Street Research LLC now owns 397,082 shares of the company's stock valued at $67,671,000 after purchasing an additional 11,269 shares during the last quarter. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Procter & Gamble

In other news, CEO Jennifer L. Davis sold 1,000 shares of Procter & Gamble stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total transaction of $161,380.00. Following the transaction, the chief executive officer owned 51,965 shares in the company, valued at approximately $8,386,111.70. The trade was a 1.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $158.67, for a total value of $1,669,208.40. Following the completion of the sale, the insider directly owned 25,182 shares of the company's stock, valued at approximately $3,995,627.94. This represents a 29.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

Procter & Gamble Price Performance

Shares of PG stock traded down $1.47 during midday trading on Friday, reaching $157.02. 3,369,675 shares of the company were exchanged, compared to its average volume of 7,571,200. The company's 50 day moving average price is $161.84 and its two-hundred day moving average price is $165.03. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.71. The company has a market cap of $368.14 billion, a P/E ratio of 24.93, a PEG ratio of 4.48 and a beta of 0.40. Procter & Gamble Company has a 12 month low of $155.95 and a 12 month high of $180.43.

Procter & Gamble (NYSE:PG - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.53 by $0.01. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.46%. The firm had revenue of $19.78 billion for the quarter, compared to analyst estimates of $20.42 billion. During the same period in the previous year, the company earned $1.52 earnings per share. Procter & Gamble's revenue was down 2.1% compared to the same quarter last year. On average, sell-side analysts expect that Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be given a $1.0568 dividend. This represents a $4.23 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Friday, July 18th. Procter & Gamble's dividend payout ratio (DPR) is currently 66.98%.

Wall Street Analysts Forecast Growth

PG has been the topic of several analyst reports. Morgan Stanley set a $180.00 price objective on Procter & Gamble and gave the stock an "overweight" rating in a report on Friday, April 25th. Raymond James Financial dropped their price target on shares of Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Redburn Atlantic downgraded shares of Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 price objective on the stock. in a research note on Thursday, May 1st. Bank of America dropped their target price on shares of Procter & Gamble from $190.00 to $180.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. cut their price objective on Procter & Gamble from $181.00 to $172.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Eight investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $178.45.

About Procter & Gamble

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.