Allspring Global Investments Holdings LLC Sells 47,436 Shares of The Procter & Gamble Company (NYSE:PG)

Allspring Global Investments Holdings LLC reduced its position in shares of The Procter & Gamble Company (NYSE:PG) by 8.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 501,761 shares of the company’s stock after selling 47,436 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Procter & Gamble were worth $81,411,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Demars Financial Group LLC increased its stake in shares of Procter & Gamble by 4.4% during the 4th quarter. Demars Financial Group LLC now owns 1,497 shares of the company’s stock worth $219,000 after purchasing an additional 63 shares during the last quarter. Emerald Advisors LLC raised its stake in shares of Procter & Gamble by 1.8% in the fourth quarter. Emerald Advisors LLC now owns 3,775 shares of the company’s stock valued at $553,000 after buying an additional 65 shares during the period. O Brien Wealth Partners LLC lifted its position in shares of Procter & Gamble by 3.3% during the 4th quarter. O Brien Wealth Partners LLC now owns 2,062 shares of the company’s stock valued at $302,000 after buying an additional 65 shares during the last quarter. Mechanics Financial Corp grew its stake in shares of Procter & Gamble by 0.4% during the 4th quarter. Mechanics Financial Corp now owns 16,184 shares of the company’s stock worth $2,372,000 after acquiring an additional 65 shares during the period. Finally, LWM Advisory Services LLC raised its stake in Procter & Gamble by 2.1% in the 4th quarter. LWM Advisory Services LLC now owns 3,143 shares of the company’s stock valued at $461,000 after acquiring an additional 66 shares during the period. Institutional investors and hedge funds own 65.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PG. BNP Paribas initiated coverage on Procter & Gamble in a report on Monday, June 24th. They issued an “outperform” rating and a $187.00 price target for the company. Deutsche Bank Aktiengesellschaft cut their target price on Procter & Gamble from $172.00 to $171.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Barclays upped their price target on Procter & Gamble from $168.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, April 23rd. Argus boosted their price objective on shares of Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Finally, Truist Financial upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and increased their target price for the stock from $160.00 to $175.00 in a research note on Monday, March 11th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $170.72.

Procter & Gamble Stock Down 0.4 %

PG traded down $0.67 on Tuesday, hitting $162.05. The company had a trading volume of 676,359 shares, compared to its average volume of 6,557,282. The Procter & Gamble Company has a 52-week low of $141.45 and a 52-week high of $169.41. The stock has a fifty day simple moving average of $165.60 and a 200-day simple moving average of $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 firm has a market capitalization of $382.46 billion, a P/E ratio of 26.59, a P/E/G ratio of 3.35 and a beta of 0.41.

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

Procter & Gamble Increases Dividend

The business also recently declared 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 is an increase from Procter & Gamble’s previous quarterly dividend of $0.94. This represents a $4.03 annualized dividend and a dividend yield of 2.48%. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.85%.

Insider Buying and Selling

In related news, CEO R. Alexandra Keith sold 855 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $158.50, for a total value of $135,517.50. Following the completion of the transaction, the chief executive officer now directly owns 4,004 shares in the company, valued at approximately $634,634. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Sundar G. Raman sold 31,924 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $166.95, for a total value of $5,329,711.80. Following the transaction, the chief executive officer now directly owns 19,042 shares in the company, valued at approximately $3,179,061.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO R. Alexandra Keith sold 855 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $158.50, for a total value of $135,517.50. Following the completion of the transaction, the chief executive officer now directly owns 4,004 shares in the company, valued at approximately $634,634. 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 in the last quarter. Corporate 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.