Ellevest Inc. Sells 883 Shares of The Procter & Gamble Company (NYSE:PG)

Ellevest Inc. reduced its stake in shares of The Procter & Gamble Company (NYSE:PG) by 34.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,677 shares of the company’s stock after selling 883 shares during the quarter. Ellevest Inc.’s holdings in Procter & Gamble were worth $281,000 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 PG. Norges Bank acquired a new position in shares of Procter & Gamble in the 4th quarter valued at $5,244,463,000. Raymond James Financial Inc. acquired a new position in Procter & Gamble in the fourth quarter valued at about $1,010,685,000. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Procter & Gamble by 1,195.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company’s stock worth $580,596,000 after buying an additional 2,973,757 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Procter & Gamble by 62.5% in the 4th quarter. Capital Research Global Investors now owns 7,398,120 shares of the company’s stock valued at $1,240,294,000 after acquiring an additional 2,846,560 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Procter & Gamble by 10.1% in the 4th quarter. Northern Trust Corp now owns 29,395,208 shares of the company’s stock valued at $4,928,107,000 after acquiring an additional 2,703,757 shares during the period. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Trading Down 0.6 %

Shares of Procter & Gamble stock opened at $157.73 on Friday. The stock has a market cap of $369.80 billion, a P/E ratio of 25.12, a P/E/G ratio of 3.76 and a beta of 0.41. 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 $156.58 and a 12-month high of $180.43. The business’s 50 day moving average is $165.92 and its 200-day moving average is $167.56.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.01. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The firm had revenue of $19.78 billion for the quarter, compared to analyst estimates of $20.42 billion. During the same period in the prior year, the firm posted $1.52 earnings per share. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. Equities research analysts predict that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, April 21st will be issued a dividend of $1.0568 per share. The ex-dividend date of this dividend is Monday, April 21st. This represents a $4.23 dividend on an annualized basis and a yield of 2.68%. This is a boost from Procter & Gamble’s previous quarterly dividend of $1.01. Procter & Gamble’s dividend payout ratio (DPR) is presently 66.98%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. UBS Group reissued a “buy” rating on shares of Procter & Gamble in a research report on Monday, February 10th. Bank of America decreased their target price on Procter & Gamble from $190.00 to $180.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Truist Financial dropped their price target on Procter & Gamble from $185.00 to $180.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Redburn Partners set a $161.00 price objective on Procter & Gamble in a research report on Thursday, May 1st. Finally, Piper Sandler raised their target price on shares of Procter & Gamble from $160.00 to $164.00 and gave the stock a “neutral” rating in a report on Monday, May 5th. Eight analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Procter & Gamble currently has an average rating of “Moderate Buy” and a consensus price target of $178.52.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, CEO Jennifer L. Davis sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total transaction of $161,380.00. Following the completion of the sale, the chief executive officer now directly owns 51,965 shares in the company, valued at $8,386,111.70. This trade represents a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Gary A. Coombe sold 35,000 shares of the 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 owns 22,051 shares in the company, valued at approximately $3,829,817.68. This trade represents a 61.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,520 shares of company stock worth $10,999,268 over the last 90 days. Company insiders own 0.18% of the company’s stock.

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.