The Procter & Gamble Company (NYSE:PG) Shares Sold by ELCO Management Co. LLC

ELCO Management Co. LLC reduced its stake in shares of The Procter & Gamble Company (NYSE:PG) by 2.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 8,960 shares of the company’s stock after selling 265 shares during the quarter. Procter & Gamble comprises 0.9% of ELCO Management Co. LLC’s investment portfolio, making the stock its 28th biggest position. ELCO Management Co. LLC’s holdings in Procter & Gamble were worth $1,478,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Itau Unibanco Holding S.A. acquired a new position in Procter & Gamble in the 2nd quarter valued at about $28,000. Fairway Wealth LLC acquired a new position in Procter & Gamble in the second quarter valued at approximately $29,000. Ruedi Wealth Management Inc. grew its position in Procter & Gamble by 64.7% in the first quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock worth $32,000 after acquiring an additional 77 shares during the period. POM Investment Strategies LLC acquired a new position in shares of Procter & Gamble in the 2nd quarter valued at $34,000. Finally, Transcendent Capital Group LLC purchased a new position in shares of Procter & Gamble during the 4th quarter worth $31,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Stock Down 0.3 %

Shares of NYSE:PG opened at $173.24 on Wednesday. The firm has a 50 day simple moving average of $170.52 and a 200-day simple moving average of $165.97. The Procter & Gamble Company has a twelve month low of $141.45 and a twelve month high of $177.94. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $408.87 billion, a PE ratio of 28.31, a P/E/G ratio of 3.77 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last announced its 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. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The business had revenue of $20.53 billion for the quarter, compared to analyst estimates of $20.69 billion. During the same period last year, the firm posted $1.37 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. On average, equities analysts predict that The Procter & Gamble Company will post 6.97 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were paid a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Friday, July 19th. Procter & Gamble’s dividend payout ratio is presently 65.85%.

Insider Buying and Selling at Procter & Gamble

In related news, insider Balaji Purushothaman sold 8,842 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the completion of the sale, the insider now directly owns 11,537 shares of the company’s stock, valued at $1,902,451.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Procter & Gamble news, insider Balaji Purushothaman sold 8,842 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the completion of the transaction, the insider now owns 11,537 shares in the company, valued at approximately $1,902,451.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Susan Street Whaley sold 450 shares of Procter & Gamble stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total transaction of $76,149.00. Following the completion of the sale, the insider now directly owns 13,072 shares in the company, valued at approximately $2,212,043.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 375,553 shares of company stock worth $63,829,141. 0.17% of the stock is currently owned by insiders.

Analyst Ratings Changes

PG has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on shares of Procter & Gamble from $171.00 to $176.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Citigroup boosted their target price on Procter & Gamble from $177.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. StockNews.com lowered Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. DZ Bank upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective on the stock in a report on Thursday, August 29th. Finally, Piper Sandler initiated coverage on Procter & Gamble in a report on Tuesday. They set a “neutral” rating and a $174.00 target price for the company. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $175.89.

About Procter & Gamble

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.