Balentine LLC Sells 499 Shares of Procter & Gamble Company (The) (NYSE:PG)

Balentine LLC cut its stake in Procter & Gamble Company (The) (NYSE:PG) by 5.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 9,489 shares of the company’s stock after selling 499 shares during the period. Balentine LLC’s holdings in Procter & Gamble were worth $1,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. Norges Bank bought a new position in Procter & Gamble in the 4th quarter valued at about $5,244,463,000. GAMMA Investing LLC boosted its stake in shares of Procter & Gamble by 20,758.5% in the 1st quarter. GAMMA Investing LLC now owns 7,951,456 shares of the company’s stock valued at $1,355,087,000 after purchasing an additional 7,913,335 shares in the last quarter. Capital Research Global Investors boosted 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 purchasing an additional 2,846,560 shares in the last quarter. Northern Trust Corp boosted its stake 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 purchasing an additional 2,703,757 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Procter & Gamble by 15.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,274,563 shares of the company’s stock valued at $2,728,430,000 after purchasing an additional 2,224,912 shares in the last quarter. 65.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PG. Raymond James Financial decreased their price target on shares of Procter & Gamble from $190.00 to $185.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. JPMorgan Chase & Co. decreased their price target on shares of Procter & Gamble from $181.00 to $172.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Piper Sandler boosted their price target on shares of Procter & Gamble from $160.00 to $164.00 and gave the company a “neutral” rating in a research note on Monday, May 5th. Erste Group Bank lowered shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 30th. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $170.00 price objective (down from $190.00) on shares of Procter & Gamble in a report on Monday, July 14th. Nine investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Procter & Gamble has a consensus rating of “Moderate Buy” and an average target price of $176.84.

Insider Transactions at Procter & Gamble

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

Procter & Gamble Stock Down 0.3%

Shares of Procter & Gamble stock opened at $155.08 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.71. Procter & Gamble Company has a 52-week low of $151.90 and a 52-week high of $180.43. The stock has a market capitalization of $363.59 billion, a price-to-earnings ratio of 24.62, a P/E/G ratio of 4.43 and a beta of 0.40. The company’s 50 day moving average price is $161.31 and its 200-day moving average price is $164.44.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.53 by $0.01. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.46%. 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 firm posted $1.52 earnings per share. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. Equities research analysts forecast that Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be given a dividend of $1.0568 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.73%. Procter & Gamble’s payout ratio is currently 67.14%.

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.