Columbia Asset Management Reduces Stock Position in The Procter & Gamble Company (NYSE:PG)

Columbia Asset Management trimmed its position in The Procter & Gamble Company (NYSE:PG) by 5.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,679 shares of the company’s stock after selling 2,556 shares during the quarter. Procter & Gamble comprises 1.3% of Columbia Asset Management’s holdings, making the stock its 16th largest position. Columbia Asset Management’s holdings in Procter & Gamble were worth $7,323,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. NewSquare Capital LLC boosted its holdings in Procter & Gamble by 933.3% in the fourth quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock valued at $26,000 after purchasing an additional 140 shares during the last quarter. Hoey Investments Inc. lifted its holdings in shares of Procter & Gamble by 321.7% in the 4th quarter. Hoey Investments Inc. now owns 194 shares of the company’s stock valued at $33,000 after buying an additional 148 shares during the period. LFA Lugano Financial Advisors SA purchased a new stake in shares of Procter & Gamble in the fourth quarter worth about $34,000. Atlantic Private Wealth LLC grew its holdings in Procter & Gamble by 95.3% during the fourth quarter. Atlantic Private Wealth LLC now owns 207 shares of the company’s stock worth $35,000 after acquiring an additional 101 shares during the period. Finally, Prudent Man Investment Management Inc. purchased a new position in Procter & Gamble during the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Insider Activity

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Piper Sandler dropped their price objective 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. Wells Fargo & Company raised their price target on shares of Procter & Gamble from $176.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $164.00 price objective on shares of Procter & Gamble in a research report on Thursday, January 23rd. Barclays restated an “equal weight” rating on shares of Procter & Gamble in a research report on Thursday, March 27th. Finally, UBS Group reaffirmed a “buy” rating on shares of Procter & Gamble in a report on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $181.82.

Procter & Gamble Stock Up 0.1 %

NYSE PG opened at $170.61 on Wednesday. The business has a fifty day moving average price of $168.96 and a 200 day moving average price of $169.27. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76. The company has a market cap of $400.05 billion, a P/E ratio of 27.17, a P/E/G ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a one year low of $153.52 and a one year high of $180.43.

Procter & Gamble (NYSE:PG) last issued its earnings results on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.02. The business had revenue of $21.88 billion during the quarter, compared to analysts’ expectations of $21.66 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.84 earnings per share. Research analysts anticipate 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. Stockholders of record on Friday, January 24th were issued a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a dividend yield of 2.36%. 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.