July 14, 2024
Spartan Planning & Wealth Management Sells 1,128 Shares of The Procter & Gamble Company (NYSE:PG)



Los Angeles Capital Management LLC reduced its stake in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 6.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 586,309 shares of the company’s stock after selling 42,520 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Procter & Gamble were worth $95,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in PG. Advantage Trust Co bought a new position in shares of Procter & Gamble during the 4th quarter valued at approximately $28,000. Naples Money Management LLC bought a new position in shares of Procter & Gamble during the 4th quarter valued at approximately $29,000. Wyrmwood Management LLC bought a new position in shares of Procter & Gamble during the 4th quarter valued at approximately $29,000. Transcendent Capital Group LLC bought a new position in shares of Procter & Gamble during the 4th quarter valued at approximately $31,000. Finally, MeadowBrook Investment Advisors LLC bought a new stake in Procter & Gamble in the fourth quarter worth $33,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on PG. Jefferies Financial Group raised their price target on Procter & Gamble from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Barclays lifted their target price on Procter & Gamble from $168.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft decreased their target price on Procter & Gamble from $172.00 to $171.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. StockNews.com downgraded Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Argus lifted their target price on Procter & Gamble from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $169.76.

Check Out Our Latest Report on Procter & Gamble

Insider Activity

In other news, insider Balaji Purushothaman sold 28,369 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $161.49, for a total transaction of $4,581,309.81. Following the transaction, the insider now owns 11,507 shares in the company, valued at $1,858,265.43. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Balaji Purushothaman sold 28,369 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $161.49, for a total transaction of $4,581,309.81. Following the transaction, the insider now owns 11,507 shares in the company, valued at $1,858,265.43. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Gary A. Coombe sold 21,388 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $164.98, for a total transaction of $3,528,592.24. Following the transaction, the chief executive officer now owns 36,854 shares in the company, valued at approximately $6,080,172.92. The disclosure for this sale can be found here. Insiders have sold a total of 154,544 shares of company stock worth $25,413,051 over the last 90 days. 0.17% of the stock is currently owned by corporate insiders.

Procter & Gamble Price Performance

PG opened at $168.56 on Thursday. The business’s 50-day moving average is $164.09 and its two-hundred day moving average is $157.83. The Procter & Gamble Company has a 1 year low of $141.45 and a 1 year high of $168.97. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.69 and a quick ratio of 0.48. The firm has a market capitalization of $397.83 billion, a PE ratio of 27.54, a price-to-earnings-growth ratio of 3.42 and a beta of 0.42.

Procter & Gamble (NYSE:PG – Get Free Report) last posted its earnings results on Friday, April 19th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.10. Procter & Gamble had a return on equity of 33.91% and a net margin of 18.00%. The company had revenue of $20.20 billion for the quarter, compared to analyst estimates of $20.43 billion. During the same quarter in the previous year, the firm earned $1.37 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. Research analysts anticipate that The Procter & Gamble Company will post 6.55 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th were issued a dividend of $1.0065 per share. The ex-dividend date of this dividend was Thursday, April 18th. This represents a $4.03 annualized dividend and a dividend yield of 2.39%. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.94. Procter & Gamble’s dividend payout ratio is 65.85%.

Procter & Gamble Profile

(Free Report)

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.

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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)



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