Successful Portfolios LLC Sells 402 Shares of The Procter & Gamble Company (NYSE:PG)

Successful Portfolios LLC reduced its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 3.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,288 shares of the company’s stock after selling 402 shares during the period. Procter & Gamble accounts for approximately 1.1% of Successful Portfolios LLC’s investment portfolio, making the stock its 21st biggest holding. Successful Portfolios LLC’s holdings in Procter & Gamble were worth $1,669,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in Procter & Gamble by 9.4% during the 3rd quarter. Wellington Management Group LLP now owns 35,608,913 shares of the company’s stock worth $5,193,916,000 after buying an additional 3,047,557 shares during the period. Norges Bank bought a new stake in shares of Procter & Gamble during the fourth quarter worth about $3,956,117,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Procter & Gamble by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 16,209,425 shares of the company’s stock worth $2,336,552,000 after acquiring an additional 206,165 shares during the last quarter. Royal Bank of Canada lifted its position in Procter & Gamble by 3.2% in the 3rd quarter. Royal Bank of Canada now owns 11,170,305 shares of the company’s stock valued at $1,629,299,000 after acquiring an additional 346,925 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Procter & Gamble by 5.6% during the 4th quarter. Fisher Asset Management LLC now owns 10,556,988 shares of the company’s stock valued at $1,547,021,000 after purchasing an additional 559,358 shares during the last quarter. 65.77% of the stock is owned by institutional investors.

Procter & Gamble Trading Down 1.0 %

Shares of PG stock opened at $164.92 on Monday. The Procter & Gamble Company has a 1 year low of $141.45 and a 1 year high of $169.41. The company’s fifty day simple moving average is $165.60 and its two-hundred day simple moving average is $158.89. 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 stock has a market capitalization of $389.23 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 3.35 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Friday, April 19th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.10. Procter & Gamble had a return on equity of 33.91% and a net margin of 18.00%. The business had revenue of $20.20 billion for the quarter, compared to analysts’ expectations of $20.43 billion. During the same quarter in the prior year, the firm posted $1.37 EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. As a group, analysts anticipate that The Procter & Gamble Company will post 6.55 earnings per share for the current year.

Procter & Gamble Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Friday, April 19th were paid a dividend of $1.0065 per share. The ex-dividend date was Thursday, April 18th. This represents a $4.03 annualized dividend and a yield of 2.44%. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.94. Procter & Gamble’s payout ratio is currently 65.85%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Argus increased their price target on Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Jefferies Financial Group upped their price objective on shares of Procter & Gamble from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Procter & Gamble from $172.00 to $171.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. BNP Paribas assumed coverage on Procter & Gamble in a research report on Monday, June 24th. They set an “outperform” rating and a $187.00 price target for the company. Finally, Truist Financial upgraded Procter & Gamble from a “hold” rating to a “buy” rating and upped their price objective for the company from $160.00 to $175.00 in a research note on Monday, March 11th. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Procter & Gamble has a consensus rating of “Moderate Buy” and an average price target of $170.72.

Insider Buying and Selling

In related news, CEO Sundar G. Raman sold 31,924 shares of Procter & Gamble stock in a transaction on Monday, May 20th. The stock was sold at an average price of $166.95, for a total transaction of $5,329,711.80. Following the completion of the sale, the chief executive officer now owns 19,042 shares of the company’s stock, valued at $3,179,061.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Balaji Purushothaman sold 28,369 shares of Procter & Gamble stock in a transaction on 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 completion of the sale, the insider now directly owns 11,507 shares of the company’s stock, valued at approximately $1,858,265.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar G. Raman sold 31,924 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $166.95, for a total value of $5,329,711.80. Following the completion of the transaction, the chief executive officer now directly owns 19,042 shares in the company, valued at approximately $3,179,061.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 154,544 shares of company stock valued at $25,413,051. Company insiders own 0.17% of the company’s stock.

Procter & Gamble Profile

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.