Procter & Gamble Company (The) $PG Stock Bought by Fisher Asset Management LLC

Key Points

• Fisher Asset Management increased its P&G stake 7.5% in the third quarter, adding 845,717 shares and bringing its holdings to about 12.1 million shares, valued at $1.76 billion.
• P&G reported quarterly EPS of $2.00, beating the $1.89 consensus, while revenue rose 4% year over year to $23.28 billion. Analysts’ consensus rating was “Moderate Buy,” with a $170.57 average price target.
• Company insiders sold 200,006 shares worth about $32.7 million over the past 90 days. P&G also declared a quarterly dividend of $1.0885 per share, equivalent to an annualized yield of roughly 2.6%.

Fisher Asset Management LLC lifted its stake in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 7.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,084,656 shares of the company's stock after buying an additional 845,717 shares during the quarter. Fisher Asset Management LLC owned about 0.52% of Procter & Gamble worth $1,755,659,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Private Advisory Group LLC lifted its stake in Procter & Gamble by 10.6% in the third quarter. Private Advisory Group LLC now owns 2,873 shares of the company's stock valued at $417,000 after buying an additional 275 shares during the last quarter. Warburton Capital Management LLC purchased a new position in shares of Procter & Gamble during the third quarter worth approximately $186,000. Coston McIsaac & Partners increased its holdings in shares of Procter & Gamble by 0.5% in the 3rd quarter. Coston McIsaac & Partners now owns 46,552 shares of the company's stock valued at $6,763,000 after acquiring an additional 245 shares during the period. Tortoise Investment Management LLC increased its holdings in shares of Procter & Gamble by 5.4% in the 3rd quarter. Tortoise Investment Management LLC now owns 2,594 shares of the company's stock valued at $377,000 after acquiring an additional 132 shares during the period. Finally, Everest Financial Group LLC increased its holdings in shares of Procter & Gamble by 3.4% in the 3rd quarter. Everest Financial Group LLC now owns 8,013 shares of the company's stock valued at $1,164,000 after acquiring an additional 267 shares during the period. Institutional investors and hedge funds own 65.77% of the company's stock.

Insider Activity at Procter & Gamble

In other news, CEO Sundar G. Raman sold 38,253 shares of Procter & Gamble stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $165.00, for a total value of $6,311,745.00. Following the sale, the chief executive officer owned 47,745 shares of the company's stock, valued at $7,877,925. The trade was a 44.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Shailesh Jejurikar sold 35,000 shares of the business's stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $163.09, for a total transaction of $5,708,150.00. Following the transaction, the chief executive officer owned 55,391 shares in the company, valued at approximately $9,033,718.19. This trade represents a 38.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 200,006 shares of company stock worth $32,715,058 in the last 90 days. Corporate insiders own 0.23% of the company's stock.

Latest Procter & Gamble News

Investors following PG have been watching these news items:

• Neutral Sentiment: A valuation analysis questions whether P&G’s share price is supported by future cash flows, noting its 29.7% five-year return. The article raises a valuation question rather than offering a clear near-term catalyst. Article: Is Procter & Gamble Worth More Than Its Price Today?
• Negative Sentiment: CEO El Hak Hesham Abd sold 2,250 shares at an average of $168.47, reducing his direct holding by 20.06% to 8,968 shares. The transaction could raise concerns, though he retains a stake and a sale alone does not establish a change in the company’s outlook. SEC Form 4 filing
• Negative Sentiment: One market commentator preferred Nvidia to P&G, citing P&G’s roughly 23-times earnings valuation. That comparison may weigh on sentiment among investors seeking cheaper growth opportunities. Article: Nvidia at 11X Earnings?

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PG. Weiss Ratings reiterated a "hold (c)" rating on shares of Procter & Gamble in a research note on Monday, September 21st. Argus downgraded shares of Procter & Gamble from a "buy" rating to a "hold" rating in a research report on Friday, August 7th. Citigroup lifted their price objective on shares of Procter & Gamble from $180.00 to $187.00 and gave the company a "buy" rating in a research note on Friday, October 23rd. Evercore raised shares of Procter & Gamble from an "in-line" rating to an "outperform" rating and set a $166.00 target price for the company in a report on Tuesday, October 6th. Finally, TD Cowen increased their target price on shares of Procter & Gamble from $150.00 to $166.00 and gave the stock a "hold" rating in a research note on Friday, October 23rd. Fifteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $170.57.

Procter & Gamble Trading Up 0.2%

NYSE:PG opened at $168.02 on Friday. Procter & Gamble Company has a 12-month low of $137.62 and a 12-month high of $170.52. The company has a current ratio of 0.72, a quick ratio of 0.53 and a debt-to-equity ratio of 0.40. The stock's 50 day simple moving average is $153.80 and its 200-day simple moving average is $149.82. The firm has a market cap of $389.43 billion, a P/E ratio of 25.30, a PEG ratio of 4.12 and a beta of 0.36.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its quarterly earnings results on Thursday, October 22nd. The company reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.11. Procter & Gamble had a return on equity of 31.02% and a net margin of 18.23%. The firm had revenue of $23.28 billion during the quarter, compared to the consensus estimate of $22.80 billion. During the same period last year, the company earned $1.99 earnings per share. The company's revenue for the quarter was up 4.0% on a year-over-year basis. Equities analysts anticipate that Procter & Gamble Company will post 6.99 EPS for the current year.

Procter & Gamble Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Friday, October 23rd will be given a dividend of $1.0885 per share. The ex-dividend date is Friday, October 23rd. This represents a $4.35 dividend on an annualized basis and a yield of 2.6%. Procter & Gamble's dividend payout ratio is presently 65.51%.

Procter & Gamble Profile

The Procter & Gamble Company is a consumer goods company that develops, manufactures and markets products for everyday use. Founded in 1837 by William Procter and James Gamble, the company is headquartered in Cincinnati, Ohio. Its products span beauty, grooming, health care, fabric and home care, and baby, feminine and family care. Well-known brands include Tide, Pampers, Gillette, Pantene, Olay, Oral-B, Crest, Dawn, Charmin and Bounty. Procter & Gamble sells its products in markets around the world through retail stores, e-commerce platforms and other distribution channels.

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