Connecticut Wealth Management LLC Sells 315 Shares of The Procter & Gamble Company (NYSE:PG)

Connecticut Wealth Management LLC reduced its holdings in The Procter & Gamble Company (NYSE:PG) by 1.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,327 shares of the company’s stock after selling 315 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Procter & Gamble were worth $3,240,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Regent Peak Wealth Advisors LLC boosted its holdings in Procter & Gamble by 1.3% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 11,063 shares of the company’s stock valued at $1,855,000 after acquiring an additional 139 shares during the period. Guinness Asset Management LTD boosted its holdings in Procter & Gamble by 5.2% during the 4th quarter. Guinness Asset Management LTD now owns 1,247,990 shares of the company’s stock valued at $209,182,000 after acquiring an additional 62,048 shares during the period. Guinness Atkinson Asset Management Inc boosted its holdings in Procter & Gamble by 23.3% during the 4th quarter. Guinness Atkinson Asset Management Inc now owns 6,396 shares of the company’s stock valued at $1,072,000 after acquiring an additional 1,209 shares during the period. Zhang Financial LLC boosted its holdings in Procter & Gamble by 1.2% during the 4th quarter. Zhang Financial LLC now owns 24,371 shares of the company’s stock valued at $4,086,000 after acquiring an additional 288 shares during the period. Finally, Gemmer Asset Management LLC boosted its holdings in Procter & Gamble by 8.4% during the 4th quarter. Gemmer Asset Management LLC now owns 3,612 shares of the company’s stock valued at $606,000 after acquiring an additional 280 shares during the period. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Procter & Gamble news, CEO Gary A. Coombe sold 18,000 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $171.66, for a total transaction of $3,089,880.00. Following the completion of the sale, the chief executive officer now owns 22,051 shares of the company’s stock, valued at approximately $3,785,274.66. The trade was a 44.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jennifer L. Davis sold 1,000 shares of the business’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total value of $161,380.00. Following the sale, the chief executive officer now directly owns 51,965 shares of the company’s stock, valued at $8,386,111.70. This represents a 1.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,520 shares of company stock valued at $10,999,268 over the last 90 days. Company insiders own 0.18% of the company’s stock.

Procter & Gamble Stock Down 0.1%

Procter & Gamble stock opened at $165.49 on Thursday. The firm has a market cap of $388.00 billion, a price-to-earnings ratio of 26.35, a PEG ratio of 3.76 and a beta of 0.41. The stock has a fifty day simple moving average of $164.31 and a two-hundred day simple moving average of $167.29. The Procter & Gamble Company has a 12 month low of $156.58 and a 12 month high of $180.43. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50.

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

Procter & Gamble Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, April 21st were issued a $1.0568 dividend. The ex-dividend date was Monday, April 21st. This represents a $4.23 annualized dividend and a dividend yield of 2.55%. This is a positive change from Procter & Gamble’s previous quarterly dividend of $1.01. Procter & Gamble’s payout ratio is presently 66.98%.

Analyst Upgrades and Downgrades

PG has been the subject of several analyst reports. Citigroup dropped their target price on Procter & Gamble from $200.00 to $181.00 and set a “buy” rating for the company in a report on Friday, April 25th. Piper Sandler increased their target price on Procter & Gamble from $160.00 to $164.00 and gave the company a “neutral” rating in a report on Monday, May 5th. Erste Group Bank cut Procter & Gamble from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 30th. Morgan Stanley set a $180.00 price objective on Procter & Gamble and gave the stock an “overweight” rating in a report on Friday, April 25th. Finally, Redburn Partners set a $161.00 price objective on Procter & Gamble in a report on Thursday, May 1st. Eight equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Procter & Gamble currently has a consensus rating of “Moderate Buy” and a consensus target price of $178.52.

About Procter & Gamble

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.