Rialto Wealth Management LLC Makes New Investment in The Procter & Gamble Company (NYSE:PG)

Rialto Wealth Management LLC purchased a new stake in shares of The Procter & Gamble Company (NYSE:PG) during the 4th quarter, Holdings Channel.com reports. The fund purchased 1,278 shares of the company’s stock, valued at approximately $214,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. NewSquare Capital LLC increased its holdings in Procter & Gamble by 933.3% during the fourth quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock valued at $26,000 after buying an additional 140 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in shares of Procter & Gamble during the 3rd quarter valued at $33,000. Noble Wealth Management PBC purchased a new stake in shares of Procter & Gamble in the 4th quarter worth $39,000. Bay Harbor Wealth Management LLC raised its holdings in Procter & Gamble by 972.0% in the 4th quarter. Bay Harbor Wealth Management LLC now owns 268 shares of the company’s stock worth $45,000 after purchasing an additional 243 shares during the period. Finally, New Wave Wealth Advisors LLC purchased a new position in Procter & Gamble during the fourth quarter valued at $46,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Procter & Gamble Stock Performance

NYSE:PG opened at $176.06 on Friday. The company has a market cap of $412.84 billion, a price-to-earnings ratio of 28.04, a PEG ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a 1 year low of $153.52 and a 1 year high of $180.43. The stock’s 50 day simple moving average is $166.85 and its two-hundred day simple moving average is $169.77. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.02. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The company had revenue of $21.88 billion for the quarter, compared to analysts’ expectations of $21.66 billion. During the same quarter in the previous year, the business posted $1.84 earnings per share. Procter & Gamble’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, equities analysts anticipate that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 24th were issued a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Friday, January 24th. Procter & Gamble’s payout ratio is 64.01%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PG. Royal Bank of Canada restated a “sector perform” rating and issued a $164.00 price target on shares of Procter & Gamble in a research report on Thursday, January 23rd. Piper Sandler decreased their target price on shares of Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating on the stock in a research note on Monday, February 24th. UBS Group reiterated a “buy” rating on shares of Procter & Gamble in a research report on Monday, February 10th. DA Davidson restated a “buy” rating and set a $209.00 price objective on shares of Procter & Gamble in a research report on Thursday, January 23rd. Finally, Wells Fargo & Company lifted their target price on shares of Procter & Gamble from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $181.11.

Insider Buying and Selling

In other news, insider Marc S. Pritchard sold 90,450 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total value of $14,819,328.00. Following the completion of the sale, the insider now owns 172,814 shares in the company, valued at approximately $28,313,845.76. This trade represents a 34.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gary A. Coombe sold 35,000 shares of Procter & Gamble stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the transaction, the chief executive officer now directly owns 22,051 shares of the company’s stock, valued at approximately $3,829,817.68. This represents a 61.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 143,450 shares of company stock worth $23,988,008. Corporate insiders own 0.18% of the company’s stock.

Procter & Gamble Profile

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.