Core Wealth Partners LLC Reduces Stock Position in The Procter & Gamble Company (NYSE:PG)

Core Wealth Partners LLC trimmed its position in The Procter & Gamble Company (NYSE:PG) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,591 shares of the company’s stock after selling 73 shares during the period. Procter & Gamble comprises about 1.0% of Core Wealth Partners LLC’s investment portfolio, making the stock its 23rd largest position. Core Wealth Partners LLC’s holdings in Procter & Gamble were worth $1,776,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. NewSquare Capital LLC grew its stake in Procter & Gamble by 933.3% in the 4th quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock worth $26,000 after acquiring an additional 140 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in shares of Procter & Gamble during the third quarter worth $33,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of Procter & Gamble in the fourth quarter valued at $34,000. Atlantic Private Wealth LLC increased its stake in Procter & Gamble by 95.3% in the fourth quarter. Atlantic Private Wealth LLC now owns 207 shares of the company’s stock valued at $35,000 after purchasing an additional 101 shares during the last quarter. Finally, Noble Wealth Management PBC purchased a new position in Procter & Gamble during the fourth quarter worth about $39,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Procter & Gamble Trading Down 1.7 %

NYSE PG opened at $162.90 on Wednesday. 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 Procter & Gamble Company has a 1-year low of $153.52 and a 1-year high of $180.43. The firm’s fifty day simple moving average is $168.17 and its 200-day simple moving average is $169.49. The company has a market capitalization of $381.98 billion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last posted 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. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The company had revenue of $21.88 billion during the quarter, compared to the consensus estimate of $21.66 billion. During the same period last year, the business earned $1.84 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, sell-side 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. Stockholders of record on Friday, January 24th were paid a dividend of $1.0065 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $4.03 annualized dividend and a dividend yield of 2.47%. Procter & Gamble’s dividend payout ratio (DPR) is 64.01%.

Insider Activity

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 transaction, the chief executive officer now directly owns 22,051 shares of the company’s stock, valued at approximately $3,829,817.68. This trade represents a 61.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Marc S. Pritchard sold 90,450 shares of the company’s 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 sale, the insider now directly owns 172,814 shares of the company’s stock, valued at $28,313,845.76. The trade was a 34.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 143,450 shares of company stock worth $23,988,008. 0.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on PG shares. Erste Group Bank upgraded Procter & Gamble from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Stifel Nicolaus upped their price target 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. Wells Fargo & Company lifted their price target on shares of Procter & Gamble from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Barclays upped their price objective on Procter & Gamble from $155.00 to $159.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. lowered their price target on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Seven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $181.47.

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.