1776 Wealth LLC Decreases Holdings in Procter & Gamble Company (The) (NYSE:PG)

1776 Wealth LLC decreased its position in shares of Procter & Gamble Company (The) (NYSE:PG) by 3.7% in the first quarter, HoldingsChannel reports. The fund owned 2,921 shares of the company’s stock after selling 111 shares during the quarter. 1776 Wealth LLC’s holdings in Procter & Gamble were worth $498,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in Procter & Gamble during the 4th quarter valued at approximately $5,244,463,000. GAMMA Investing LLC increased its stake in shares of Procter & Gamble by 20,758.5% in the first quarter. GAMMA Investing LLC now owns 7,951,456 shares of the company’s stock worth $1,355,087,000 after acquiring an additional 7,913,335 shares during the period. Capital Research Global Investors increased its stake in shares of Procter & Gamble by 62.5% in the fourth quarter. Capital Research Global Investors now owns 7,398,120 shares of the company’s stock worth $1,240,294,000 after acquiring an additional 2,846,560 shares during the period. Northern Trust Corp increased its stake in shares of Procter & Gamble by 10.1% in the fourth quarter. Northern Trust Corp now owns 29,395,208 shares of the company’s stock worth $4,928,107,000 after acquiring an additional 2,703,757 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Procter & Gamble by 15.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,274,563 shares of the company’s stock worth $2,728,430,000 after acquiring an additional 2,224,912 shares during the period. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on PG shares. Redburn Atlantic lowered shares of Procter & Gamble from a “buy” rating to a “neutral” rating and set a $161.00 price target on the stock. in a research report on Thursday, May 1st. Morgan Stanley set a $180.00 price target on shares of Procter & Gamble and gave the company an “overweight” rating in a research report on Friday, April 25th. Raymond James Financial dropped their target price on shares of Procter & Gamble from $190.00 to $185.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. JPMorgan Chase & Co. dropped their target price on shares of Procter & Gamble from $181.00 to $172.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Finally, Erste Group Bank lowered shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 30th. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $176.84.

Procter & Gamble Stock Up 0.1%

PG traded up $0.12 during trading hours on Monday, hitting $155.22. 487,826 shares of the company’s stock were exchanged, compared to its average volume of 7,628,828. Procter & Gamble Company has a 12-month low of $151.90 and a 12-month high of $180.43. The firm has a 50 day moving average of $161.31 and a 200 day moving average of $164.41. The company has a current ratio of 0.71, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47. The firm has a market cap of $363.92 billion, a P/E ratio of 24.68, a price-to-earnings-growth ratio of 4.41 and a beta of 0.40.

Procter & Gamble (NYSE:PG) last posted its earnings results on Thursday, April 24th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.01. The firm had revenue of $19.78 billion for the quarter, compared to the consensus estimate of $20.42 billion. Procter & Gamble had a net margin of 18.46% and a return on equity of 32.67%. The company’s revenue was down 2.1% on a year-over-year basis. During the same period last year, the firm posted $1.52 EPS. Analysts predict that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be given a $1.0568 dividend. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Friday, July 18th. Procter & Gamble’s dividend payout ratio (DPR) is 66.98%.

Insiders Place Their Bets

In other Procter & Gamble news, CEO Jennifer L. Davis sold 1,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer directly owned 51,965 shares of the company’s stock, valued at approximately $8,386,111.70. This trade represents a 1.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the firm’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the transaction, the insider directly owned 25,182 shares in the company, valued at $3,995,627.94. The trade was a 29.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

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.