The Procter & Gamble Company (NYSE:PG) Shares Sold by Ascent Group LLC

Ascent Group LLC cut its position in shares of The Procter & Gamble Company (NYSE:PG) by 5.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 60,920 shares of the company’s stock after selling 3,829 shares during the quarter. Procter & Gamble accounts for 0.8% of Ascent Group LLC’s portfolio, making the stock its 22nd largest position. Ascent Group LLC’s holdings in Procter & Gamble were worth $10,047,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PG. Itau Unibanco Holding S.A. bought a new stake in Procter & Gamble in the second quarter worth about $28,000. Fairway Wealth LLC bought a new stake in shares of Procter & Gamble in the 2nd quarter worth approximately $29,000. Transcendent Capital Group LLC acquired a new stake in Procter & Gamble during the fourth quarter valued at approximately $31,000. Ruedi Wealth Management Inc. boosted its holdings in Procter & Gamble by 64.7% during the first quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock worth $32,000 after buying an additional 77 shares in the last quarter. Finally, POM Investment Strategies LLC acquired a new position in Procter & Gamble in the second quarter worth approximately $34,000. Institutional investors own 65.77% of the company’s stock.

Procter & Gamble Price Performance

PG opened at $173.55 on Friday. The stock has a fifty day moving average price of $170.79 and a 200 day moving average price of $166.17. 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 Procter & Gamble Company has a 1 year low of $141.45 and a 1 year high of $177.94. The stock has a market cap of $409.60 billion, a price-to-earnings ratio of 28.36, a PEG ratio of 3.76 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.03. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The business had revenue of $20.53 billion during the quarter, compared to analyst estimates of $20.69 billion. During the same period in the previous year, the company earned $1.37 EPS. The firm’s revenue was down .1% on a year-over-year basis. Analysts forecast that The Procter & Gamble Company will post 6.97 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

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

Insider Activity

In related news, CEO Jon R. Moeller sold 37,240 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $168.89, for a total value of $6,289,463.60. Following the completion of the sale, the chief executive officer now directly owns 263,537 shares in the company, valued at $44,508,763.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Jon R. Moeller sold 37,240 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $168.89, for a total value of $6,289,463.60. Following the completion of the sale, the chief executive officer now directly owns 263,537 shares in the company, valued at approximately $44,508,763.93. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ma. Fatima Francisco sold 96,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 13,721 shares in the company, valued at approximately $2,332,570. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 375,553 shares of company stock worth $63,829,141. 0.17% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PG shares. Citigroup increased their price objective on Procter & Gamble from $177.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Piper Sandler assumed coverage on Procter & Gamble in a report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price for the company. StockNews.com cut Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Evercore ISI upped their price objective on shares of Procter & Gamble from $177.00 to $183.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Finally, Dbs Bank downgraded shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Procter & Gamble presently has a consensus 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.