The Procter & Gamble Company (NYSE:PG) Stock Position Lowered by Balboa Wealth Partners

Balboa Wealth Partners lowered its position in shares of The Procter & Gamble Company (NYSE:PG) by 4.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,507 shares of the company’s stock after selling 227 shares during the quarter. Balboa Wealth Partners’ holdings in Procter & Gamble were worth $923,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PG. Swedbank AB grew its position in Procter & Gamble by 3.9% in the third quarter. Swedbank AB now owns 1,503,647 shares of the company’s stock worth $260,432,000 after buying an additional 56,583 shares during the last quarter. Howard Capital Management Group LLC boosted its stake in shares of Procter & Gamble by 1.0% during the 3rd quarter. Howard Capital Management Group LLC now owns 8,327 shares of the company’s stock worth $1,442,000 after acquiring an additional 82 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Procter & Gamble by 14.7% in the 3rd quarter. Principal Financial Group Inc. now owns 4,734,588 shares of the company’s stock worth $820,031,000 after acquiring an additional 608,168 shares during the last quarter. United Bank raised its position in shares of Procter & Gamble by 1.7% during the third quarter. United Bank now owns 13,367 shares of the company’s stock worth $2,315,000 after purchasing an additional 219 shares during the period. Finally, GSA Capital Partners LLP lifted its holdings in shares of Procter & Gamble by 43.8% during the third quarter. GSA Capital Partners LLP now owns 5,171 shares of the company’s stock valued at $896,000 after purchasing an additional 1,575 shares during the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PG shares. Wells Fargo & Company lifted their price target on Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Stifel Nicolaus lifted their target price on shares of Procter & Gamble from $161.00 to $165.00 and gave the stock a “hold” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. reduced their price target on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Barclays lifted their price objective on shares of Procter & Gamble from $155.00 to $159.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Finally, Piper Sandler reduced their target price on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a report on Monday, February 24th. Seven equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.47.

Insiders Place Their Bets

In related news, CEO Gary A. Coombe sold 35,000 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 22,051 shares of the company’s stock, valued at approximately $3,829,817.68. The trade was a 61.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Marc S. Pritchard sold 90,450 shares of Procter & Gamble stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total value of $14,819,328.00. Following the completion of the transaction, the insider now directly 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 sold 143,450 shares of company stock valued at $23,988,008 over the last 90 days. 0.18% of the stock is currently owned by company insiders.

Procter & Gamble Stock Performance

Shares of PG opened at $168.35 on Thursday. The firm has a market cap of $394.75 billion, a price-to-earnings ratio of 26.81, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The company’s fifty day moving average is $167.16 and its 200-day moving average is $169.83. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a 12 month low of $153.52 and a 12 month high of $180.43.

Procter & Gamble (NYSE:PG) last posted its earnings results on Wednesday, January 22nd. The company reported $1.88 EPS 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 firm had revenue of $21.88 billion for the quarter, compared to the consensus estimate of $21.66 billion. During the same period in the prior year, the business posted $1.84 earnings per share. The business’s quarterly revenue was up 2.1% on a year-over-year basis. Equities analysts expect that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

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

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.