Truepoint Inc. Sells 7,341 Shares of The Procter & Gamble Company (NYSE:PG)

Truepoint Inc. cut its holdings in The Procter & Gamble Company (NYSE:PG) by 5.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,362 shares of the company’s stock after selling 7,341 shares during the quarter. Procter & Gamble makes up approximately 0.6% of Truepoint Inc.’s holdings, making the stock its 23rd largest holding. Truepoint Inc.’s holdings in Procter & Gamble were worth $19,520,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Gilbert & Cook Inc. boosted its position in Procter & Gamble by 7.7% during the 4th quarter. Gilbert & Cook Inc. now owns 17,215 shares of the company’s stock valued at $2,523,000 after acquiring an additional 1,237 shares in the last quarter. Gryphon Financial Partners LLC boosted its position in Procter & Gamble by 8.2% during the 4th quarter. Gryphon Financial Partners LLC now owns 84,360 shares of the company’s stock valued at $12,341,000 after acquiring an additional 6,390 shares in the last quarter. US Asset Management LLC bought a new stake in Procter & Gamble during the 4th quarter valued at approximately $291,000. Advantage Trust Co bought a new stake in Procter & Gamble during the 4th quarter valued at approximately $28,000. Finally, Principal Securities Inc. purchased a new position in shares of Procter & Gamble during the fourth quarter valued at approximately $3,411,000. 65.77% of the stock is owned by institutional investors.

Procter & Gamble Trading Up 0.4 %

Shares of PG stock opened at $176.14 on Friday. The Procter & Gamble Company has a 1 year low of $141.45 and a 1 year high of $176.55. The firm has a fifty day moving average price of $168.05 and a 200-day moving average price of $164.52. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.53. The company has a market cap of $415.72 billion, a price-to-earnings ratio of 28.67, a PEG ratio of 3.72 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last issued its earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.03. The company had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $20.69 billion. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. Procter & Gamble’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.37 EPS. As a group, equities analysts predict that The Procter & Gamble Company will post 6.97 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were paid a $1.0065 dividend. This represents a $4.03 annualized dividend and a yield of 2.29%. The ex-dividend date was Friday, July 19th. Procter & Gamble’s payout ratio is currently 65.85%.

Insiders Place Their Bets

In other Procter & Gamble news, CFO Andre Schulten sold 13,041 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $170.00, for a total value of $2,216,970.00. Following the sale, the chief financial officer now owns 37,208 shares in the company, valued at approximately $6,325,360. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Andre Schulten sold 13,041 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $170.00, for a total transaction of $2,216,970.00. Following the sale, the chief financial officer now directly owns 37,208 shares in the company, valued at approximately $6,325,360. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Balaji Purushothaman sold 8,842 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the sale, the insider now owns 11,537 shares in the company, valued at $1,902,451.30. The disclosure for this sale can be found here. Insiders have sold a total of 375,553 shares of company stock worth $63,829,141 in the last 90 days. 0.17% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PG. Evercore ISI lifted their target price on shares of Procter & Gamble from $177.00 to $183.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. BNP Paribas began coverage on shares of Procter & Gamble in a report on Monday, June 24th. They set an “outperform” rating and a $187.00 target price for the company. Wolfe Research upgraded shares of Procter & Gamble to a “strong-buy” rating in a report on Friday, August 23rd. StockNews.com lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Jefferies Financial Group lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $182.00 to $175.00 in a report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.79.

About Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.