Granite Investment Partners LLC Sells 550 Shares of The Procter & Gamble Company (NYSE:PG)

Granite Investment Partners LLC cut its position in shares of The Procter & Gamble Company (NYSE:PG) by 4.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 12,939 shares of the company’s stock after selling 550 shares during the period. Granite Investment Partners LLC’s holdings in Procter & Gamble were worth $2,134,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Fairway Wealth LLC purchased a new position in Procter & Gamble during the 2nd quarter valued at about $29,000. Transcendent Capital Group LLC bought a new stake in shares of Procter & Gamble in the 4th quarter worth approximately $31,000. Ruedi Wealth Management Inc. grew its stake in shares of Procter & Gamble by 64.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock worth $32,000 after buying an additional 77 shares during the last quarter. POM Investment Strategies LLC bought a new position in Procter & Gamble during the 2nd quarter valued at approximately $34,000. Finally, Vima LLC purchased a new position in Procter & Gamble during the fourth quarter valued at $35,000. Institutional investors own 65.77% of the company’s stock.

Analyst Ratings Changes

PG has been the subject of several analyst reports. Jefferies Financial Group lowered Procter & Gamble from a “buy” rating to a “hold” rating and lowered their price target for the stock from $182.00 to $175.00 in a research report on Wednesday, July 24th. StockNews.com downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Royal Bank of Canada upped their price objective on Procter & Gamble from $157.00 to $164.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 31st. TD Cowen started coverage on Procter & Gamble in a report on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 target price for the company. Finally, Barclays reduced their price objective on Procter & Gamble from $174.00 to $163.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Procter & Gamble presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.16.

Insider Activity

In other Procter & Gamble news, CEO Ma. Fatima Francisco sold 96,000 shares of Procter & Gamble stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $170.00, for a total value of $16,320,000.00. Following the sale, the chief executive officer now directly owns 13,721 shares in the company, valued at approximately $2,332,570. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Ma. Fatima Francisco sold 96,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $170.00, for a total transaction of $16,320,000.00. Following the completion of the transaction, the chief executive officer now directly owns 13,721 shares in the company, valued at approximately $2,332,570. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andre Schulten sold 13,041 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $170.00, for a total transaction of $2,216,970.00. Following the completion of the sale, the chief financial officer now owns 37,208 shares in the company, valued at approximately $6,325,360. The disclosure for this sale can be found here. Insiders have sold a total of 375,553 shares of company stock worth $63,829,141 over the last quarter. Insiders own 0.17% of the company’s stock.

Procter & Gamble Price Performance

Shares of NYSE:PG opened at $174.22 on Friday. The firm’s 50 day simple moving average is $170.21 and its two-hundred day simple moving average is $165.69. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.53. The company has a market capitalization of $411.18 billion, a P/E ratio of 28.47, a P/E/G ratio of 3.84 and a beta of 0.41. The Procter & Gamble Company has a 1-year low of $141.45 and a 1-year high of $177.94.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.03. The business had revenue of $20.53 billion during the quarter, compared to analyst estimates of $20.69 billion. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. Procter & Gamble’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.37 EPS. Research analysts expect that The Procter & Gamble Company will post 6.97 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were given a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Friday, July 19th. Procter & Gamble’s payout ratio is currently 65.85%.

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.