Norden Group LLC Cuts Stock Holdings in The Procter & Gamble Company (NYSE:PG)

Norden Group LLC lowered its position in The Procter & Gamble Company (NYSE:PG) by 14.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,435 shares of the company’s stock after selling 1,601 shares during the quarter. Norden Group LLC’s holdings in Procter & Gamble were worth $1,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of PG. Wyrmwood Management LLC purchased a new stake in Procter & Gamble in the fourth quarter worth approximately $29,000. Naples Money Management LLC purchased a new stake in shares of Procter & Gamble during the fourth quarter valued at approximately $29,000. Criterion Capital Advisors LLC purchased a new stake in shares of Procter & Gamble during the fourth quarter valued at approximately $33,000. Mendota Financial Group LLC boosted its stake in shares of Procter & Gamble by 636.6% during the fourth quarter. Mendota Financial Group LLC now owns 302 shares of the company’s stock valued at $44,000 after purchasing an additional 261 shares during the period. Finally, Morton Brown Family Wealth LLC boosted its stake in shares of Procter & Gamble by 206.6% during the fourth quarter. Morton Brown Family Wealth LLC now owns 417 shares of the company’s stock valued at $61,000 after purchasing an additional 281 shares during the period. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Analysts Set New Price Targets

PG has been the subject of a number of analyst reports. Truist Financial raised Procter & Gamble from a “hold” rating to a “buy” rating and increased their price objective for the company from $160.00 to $175.00 in a research note on Monday, March 11th. JPMorgan Chase & Co. decreased their target price on Procter & Gamble from $169.00 to $162.00 and set an “overweight” rating for the company in a report on Thursday, January 18th. Deutsche Bank Aktiengesellschaft lowered their price objective on Procter & Gamble from $172.00 to $171.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Stifel Nicolaus raised their price objective on Procter & Gamble from $155.00 to $157.00 and gave the company a “hold” rating in a research report on Wednesday, January 24th. Finally, Raymond James raised their price objective on Procter & Gamble from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $169.76.

Procter & Gamble Stock Performance

NYSE PG traded up $0.96 during trading hours on Tuesday, hitting $162.62. The company’s stock had a trading volume of 3,438,673 shares, compared to its average volume of 6,884,708. The Procter & Gamble Company has a 12 month low of $141.45 and a 12 month high of $164.32. The company’s 50 day simple moving average is $159.72 and its two-hundred day simple moving average is $153.78. The company has a market cap of $383.81 billion, a P/E ratio of 26.52, a price-to-earnings-growth ratio of 3.27 and a beta of 0.44. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.69 and a quick ratio of 0.48.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Friday, April 19th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.42 by $0.10. The company had revenue of $20.20 billion during the quarter, compared to the consensus estimate of $20.43 billion. Procter & Gamble had a return on equity of 33.91% and a net margin of 18.00%. Procter & Gamble’s revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the company earned $1.37 EPS. As a group, sell-side analysts expect that The Procter & Gamble Company will post 6.55 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be paid a dividend of $1.0065 per share. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.94. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Thursday, April 18th. Procter & Gamble’s payout ratio is currently 65.85%.

Insider Buying and Selling at Procter & Gamble

In other news, insider Susan Street Whaley sold 3,865 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $160.60, for a total transaction of $620,719.00. Following the sale, the insider now directly owns 11,886 shares of the company’s stock, valued at approximately $1,908,891.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO R. Alexandra Keith sold 776 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $158.11, for a total transaction of $122,693.36. Following the transaction, the chief executive officer now owns 4,859 shares of the company’s stock, valued at approximately $768,256.49. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Susan Street Whaley sold 3,865 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $160.60, for a total value of $620,719.00. Following the transaction, the insider now directly owns 11,886 shares in the company, valued at approximately $1,908,891.60. The disclosure for this sale can be found here. Insiders sold a total of 55,865 shares of company stock worth $9,009,280 in the last three months. 0.17% of the stock is currently owned by company insiders.

Procter & Gamble Company Profile

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.