The Procter & Gamble Company (NYSE:PG) Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC cut its stake in The Procter & Gamble Company (NYSE:PG) by 80.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,743 shares of the company’s stock after selling 160,806 shares during the quarter. Wealthfront Advisers LLC’s holdings in Procter & Gamble were worth $6,495,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PG. Lakeridge Wealth Management LLC boosted its position in shares of Procter & Gamble by 0.6% in the fourth quarter. Lakeridge Wealth Management LLC now owns 10,807 shares of the company’s stock worth $1,812,000 after buying an additional 60 shares during the period. Colton Groome Financial Advisors LLC boosted its position in shares of Procter & Gamble by 3.2% in the fourth quarter. Colton Groome Financial Advisors LLC now owns 1,995 shares of the company’s stock worth $334,000 after buying an additional 62 shares during the period. Tevis Investment Management boosted its position in shares of Procter & Gamble by 0.6% in the fourth quarter. Tevis Investment Management now owns 11,633 shares of the company’s stock worth $1,950,000 after buying an additional 65 shares during the period. Dakota Community Bank & Trust NA boosted its position in shares of Procter & Gamble by 3.3% in the fourth quarter. Dakota Community Bank & Trust NA now owns 2,078 shares of the company’s stock worth $348,000 after buying an additional 66 shares during the period. Finally, Alhambra Investment Management LLC boosted its position in shares of Procter & Gamble by 1.2% in the fourth quarter. Alhambra Investment Management LLC now owns 5,785 shares of the company’s stock worth $970,000 after buying an additional 66 shares during the period. 65.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Procter & Gamble

In related news, CEO Gary A. Coombe sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $173.68, for a total value of $6,078,800.00. Following the sale, the chief executive officer now directly owns 22,051 shares in the company, valued at $3,829,817.68. This trade represents a 61.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Marc S. Pritchard sold 90,450 shares of the firm’s stock in a transaction that occurred on 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 represents a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 143,450 shares of company stock worth $23,988,008 in the last three months. 0.18% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Barclays upped their target price on Procter & Gamble from $155.00 to $159.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Piper Sandler reduced their price target on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a report on Monday, February 24th. JPMorgan Chase & Co. reduced their price target on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Wells Fargo & Company increased their price target on Procter & Gamble from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $164.00 price target on shares of Procter & Gamble in a report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $181.47.

Procter & Gamble Stock Down 2.8 %

Shares of Procter & Gamble stock opened at $168.35 on Thursday. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The business’s 50 day simple moving average is $167.16 and its 200-day simple moving average is $169.83. The stock has a market capitalization of $394.75 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a twelve month low of $153.52 and a twelve month high of $180.43.

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 analysts’ consensus estimates of $1.86 by $0.02. The business had revenue of $21.88 billion for the quarter, compared to analysts’ expectations of $21.66 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.84 EPS. Equities research analysts forecast that The Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 24th were given a $1.0065 dividend. This represents a $4.03 annualized dividend and a yield of 2.39%. The ex-dividend date was Friday, January 24th. Procter & Gamble’s dividend payout ratio is currently 64.01%.

Procter & Gamble Company 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.