Transcend Wealth Collective LLC Acquires New Position in Procter & Gamble Co (NYSE:PG)

Transcend Wealth Collective LLC acquired a new stake in shares of Procter & Gamble Co (NYSE:PG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 31,640 shares of the company’s stock, valued at approximately $3,952,000. Procter & Gamble accounts for approximately 1.1% of Transcend Wealth Collective LLC’s portfolio, making the stock its 18th biggest position.

A number of other hedge funds have also bought and sold shares of PG. Belmont Capital LLC purchased a new stake in shares of Procter & Gamble during the 4th quarter worth approximately $34,000. Wealthcare Capital Management LLC raised its holdings in shares of Procter & Gamble by 126.0% during the 4th quarter. Wealthcare Capital Management LLC now owns 339 shares of the company’s stock worth $42,000 after acquiring an additional 189 shares in the last quarter. Pacifica Partners Inc. purchased a new stake in Procter & Gamble during the 4th quarter valued at $44,000. Lighthouse Financial Advisors Inc. purchased a new stake in Procter & Gamble during the 4th quarter valued at $44,000. Finally, grace capital purchased a new stake in Procter & Gamble during the 4th quarter valued at $44,000. Institutional investors and hedge funds own 64.02% of the company’s stock.

In other news, insider Carolyn M. Tastad sold 37,385 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $126.28, for a total transaction of $4,720,977.80. Following the transaction, the insider now owns 60,191 shares of the company’s stock, valued at approximately $7,600,919.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David S. Taylor sold 58,297 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $125.93, for a total value of $7,341,341.21. Following the transaction, the chief executive officer now directly owns 284,069 shares in the company, valued at approximately $35,772,809.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 98,682 shares of company stock worth $12,441,819. Insiders own 1.75% of the company’s stock.

PG stock traded up $6.46 during midday trading on Thursday, reaching $107.38. The company’s stock had a trading volume of 15,794,282 shares, compared to its average volume of 10,076,703. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.44 and a current ratio of 0.63. The stock has a fifty day simple moving average of $118.38 and a two-hundred day simple moving average of $121.86. Procter & Gamble Co has a 1 year low of $94.34 and a 1 year high of $128.09. The firm has a market capitalization of $255.02 billion, a price-to-earnings ratio of 63.54, a PEG ratio of 2.86 and a beta of 0.45.

Procter & Gamble (NYSE:PG) last released its earnings results on Thursday, January 23rd. The company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.05. Procter & Gamble had a return on equity of 27.14% and a net margin of 6.92%. The business had revenue of $18.24 billion for the quarter, compared to analyst estimates of $18.37 billion. During the same quarter last year, the firm posted $1.25 earnings per share. The business’s revenue was up 4.6% compared to the same quarter last year. As a group, analysts forecast that Procter & Gamble Co will post 4.95 EPS for the current fiscal year.

PG has been the topic of several recent research reports. Deutsche Bank upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $130.00 price target on the stock in a report on Tuesday, March 17th. Berenberg Bank restated a “hold” rating and set a $130.00 price target on shares of Procter & Gamble in a report on Friday, January 24th. Citigroup increased their price target on Procter & Gamble from $138.00 to $143.00 and gave the company a “buy” rating in a report on Friday, January 24th. Argus upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Thursday. Finally, Morgan Stanley decreased their price target on Procter & Gamble from $132.00 to $127.00 and set an “overweight” rating on the stock in a report on Monday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. Procter & Gamble has a consensus rating of “Hold” and an average target price of $127.53.

Procter & Gamble Company Profile

The Procter & Gamble Company provides branded consumer packaged goods to consumers in North America, Europe, the Asia Pacific, Greater China, Latin America, India, the Middle East, and Africa. The company operates in five segments: Beauty; Grooming; health Care; fabric & Home Care; and Baby, Feminine & Family Care.

Further Reading: Stochastic Momentum Index (SMI)

Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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