The Procter & Gamble Company (NYSE:PG) Shares Sold by Palumbo Wealth Management LLC

by · The Markets Daily

Palumbo Wealth Management LLC lessened its stake in The Procter & Gamble Company (NYSE:PG – Free Report) by 1.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 9,007 shares of the company’s stock after selling 108 shares during the period. Palumbo Wealth Management LLC’s holdings in Procter & Gamble were worth $1,320,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Axiom Financial Strategies LLC raised its holdings in shares of Procter & Gamble by 7.0% during the first quarter. Axiom Financial Strategies LLC now owns 1,728 shares of the company’s stock worth $276,000 after purchasing an additional 113 shares during the period. AMI Investment Management Inc. grew its position in shares of Procter & Gamble by 7.2% during the 1st quarter. AMI Investment Management Inc. now owns 3,461 shares of the company’s stock valued at $529,000 after buying an additional 233 shares during the last quarter. LSV Asset Management raised its stake in Procter & Gamble by 5.7% during the first quarter. LSV Asset Management now owns 18,600 shares of the company’s stock worth $2,842,000 after acquiring an additional 1,000 shares during the period. Ergoteles LLC bought a new position in Procter & Gamble in the first quarter worth about $3,073,000. Finally, Wsfs Capital Management LLC boosted its stake in Procter & Gamble by 12.0% in the first quarter. Wsfs Capital Management LLC now owns 4,256 shares of the company’s stock valued at $650,000 after acquiring an additional 455 shares during the period. Institutional investors own 65.77% of the company’s stock.

Procter & Gamble Stock Down 1.1 %

NYSE PG opened at $160.47 on Tuesday. The Procter & Gamble Company has a 12 month low of $141.45 and a 12 month high of $163.14. The company has a market capitalization of $377.59 billion, a P/E ratio of 26.88, a PEG ratio of 3.31 and a beta of 0.44. The company’s 50 day simple moving average is $159.25 and its 200 day simple moving average is $152.32. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.64 and a quick ratio of 0.44.

Procter & Gamble (NYSE:PG – Get Free Report) last posted its quarterly earnings results on Tuesday, January 23rd. The company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.14. The company had revenue of $21.44 billion for the quarter, compared to analysts’ expectations of $21.48 billion. Procter & Gamble had a return on equity of 34.04% and a net margin of 17.60%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.59 earnings per share. Equities research analysts expect that The Procter & Gamble Company will post 6.45 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Friday, January 19th were given a $0.9407 dividend. The ex-dividend date was Thursday, January 18th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.34%. Procter & Gamble’s dividend payout ratio (DPR) is 62.98%.

Insider Buying and Selling

In other Procter & Gamble news, insider Marc S. Pritchard sold 101,704 shares of Procter & Gamble stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $153.57, for a total transaction of $15,618,683.28. Following the transaction, the insider now directly owns 163,428 shares in the company, valued at approximately $25,097,637.96. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Procter & Gamble news, insider Susan Street Whaley sold 3,865 shares of Procter & Gamble stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $160.60, for a total transaction of $620,719.00. Following the completion of the sale, the insider now owns 11,886 shares of the company’s stock, valued at approximately $1,908,891.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Marc S. Pritchard sold 101,704 shares of the company’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $153.57, for a total transaction of $15,618,683.28. Following the completion of the transaction, the insider now directly owns 163,428 shares in the company, valued at $25,097,637.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 279,063 shares of company stock valued at $43,187,745. 0.17% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Stifel Nicolaus increased their price target on Procter & Gamble from $155.00 to $157.00 and gave the stock a “hold” rating in a research report on Wednesday, January 24th. StockNews.com lowered Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. reduced their price target on shares of Procter & Gamble from $169.00 to $162.00 and set an “overweight” rating for the company in a report on Thursday, January 18th. Raymond James boosted their target price on shares of Procter & Gamble from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Finally, Truist Financial upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and raised their price target for the company from $160.00 to $175.00 in a research note on Monday, March 11th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Procter & Gamble has an average rating of “Moderate Buy” and a consensus target price of $168.41.

Check Out Our Latest Stock Analysis on PG

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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