Mogy Joel R Investment Counsel Inc. Sells 53,444 Shares of The Procter & Gamble Company (NYSE:PG)

Mogy Joel R Investment Counsel Inc. cut its holdings in The Procter & Gamble Company (NYSE:PG) by 58.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,194 shares of the company’s stock after selling 53,444 shares during the period. Mogy Joel R Investment Counsel Inc.’s holdings in Procter & Gamble were worth $6,509,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the stock. Brighton Jones LLC grew its stake in Procter & Gamble by 51.5% in the 4th quarter. Brighton Jones LLC now owns 40,068 shares of the company’s stock worth $6,717,000 after buying an additional 13,617 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Procter & Gamble during the 4th quarter worth $50,049,000. Sovran Advisors LLC purchased a new position in Procter & Gamble in the fourth quarter worth $736,000. Quent Capital LLC increased its stake in Procter & Gamble by 6.1% in the fourth quarter. Quent Capital LLC now owns 12,893 shares of the company’s stock valued at $2,162,000 after acquiring an additional 739 shares during the last quarter. Finally, Augustine Asset Management Inc. purchased a new stake in Procter & Gamble during the fourth quarter valued at about $493,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Procter & Gamble Trading Down 0.4%

PG opened at $162.19 on Thursday. The Procter & Gamble Company has a one year low of $156.58 and a one year high of $180.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55. The business has a 50 day simple moving average of $163.64 and a two-hundred day simple moving average of $167.05. The firm has a market capitalization of $380.25 billion, a price-to-earnings ratio of 25.83, a PEG ratio of 3.76 and a beta of 0.43.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, beating 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 company had revenue of $19.78 billion for the quarter, compared to analysts’ expectations of $20.42 billion. During the same quarter in the previous year, the company earned $1.52 earnings per share. Procter & Gamble’s quarterly revenue was down 2.1% on a year-over-year basis. Analysts predict that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, April 21st were paid a $1.0568 dividend. This represents a $4.23 annualized dividend and a yield of 2.61%. This is a boost from Procter & Gamble’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend was Monday, April 21st. Procter & Gamble’s dividend payout ratio is presently 66.98%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PG. 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. Redburn Partners set a $161.00 target price on Procter & Gamble in a research report on Thursday, May 1st. Citigroup cut their target price on Procter & Gamble from $200.00 to $181.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Royal Bank of Canada raised shares of Procter & Gamble from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $164.00 to $177.00 in a research note on Friday, April 25th. Finally, Piper Sandler boosted their price objective 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 given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $178.86.

Insiders Place Their Bets

In other Procter & Gamble news, insider Moses Victor Javier Aguilar sold 10,520 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the completion of the transaction, the insider now owns 25,182 shares of the company’s stock, valued at approximately $3,995,627.94. This trade represents a 29.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jennifer L. Davis sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total value of $161,380.00. Following the completion of the sale, the chief executive officer now owns 51,965 shares in the company, valued at $8,386,111.70. The trade was a 1.89% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

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.