The Procter & Gamble Company (NYSE:PG) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in The Procter & Gamble Company (NYSE:PG) by 3.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 424,918 shares of the company’s stock after selling 14,551 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Procter & Gamble were worth $73,596,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Procter & Gamble during the 2nd quarter worth about $28,000. Fairway Wealth LLC acquired a new stake in Procter & Gamble during the second quarter worth approximately $29,000. Ruedi Wealth Management Inc. grew its stake in 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 acquiring an additional 77 shares during the period. POM Investment Strategies LLC acquired a new position in Procter & Gamble in the 2nd quarter valued at $34,000. Finally, Quest Partners LLC purchased a new position in shares of Procter & Gamble during the 2nd quarter worth $36,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Procter & Gamble Stock Performance

Procter & Gamble stock opened at $169.56 on Tuesday. The Procter & Gamble Company has a 52 week low of $142.50 and a 52 week 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 stock has a market cap of $400.18 billion, a P/E ratio of 27.71, a price-to-earnings-growth ratio of 3.74 and a beta of 0.41. The stock has a 50 day moving average of $171.82 and a 200-day moving average of $167.33.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.03. The company had revenue of $21.74 billion during the quarter, compared to analyst estimates of $21.99 billion. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the business earned $1.83 EPS. On average, analysts expect that The Procter & Gamble Company will post 6.97 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be issued a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Friday, October 18th. Procter & Gamble’s dividend payout ratio is presently 65.69%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PG. Hsbc Global Res upgraded Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. Stifel Nicolaus upped their price objective on shares of Procter & Gamble from $157.00 to $161.00 and gave the company a “hold” rating in a research note on Monday, July 22nd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Procter & Gamble from $171.00 to $176.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Citigroup upped their price target on shares of Procter & Gamble from $177.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, DZ Bank upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price target on the stock in a report on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $177.00.

Insider Activity

In related news, CFO Andre Schulten sold 13,041 shares of the firm’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 transaction, the chief financial officer now directly owns 37,208 shares in the company, valued at $6,325,360. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Ma. Fatima Francisco sold 96,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was 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 owns 13,721 shares of the company’s stock, valued at approximately $2,332,570. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Andre Schulten sold 13,041 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $170.00, for a total value of $2,216,970.00. Following the transaction, the chief financial officer now owns 37,208 shares of the company’s stock, valued at $6,325,360. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 383,194 shares of company stock worth $65,140,718. 0.17% of the stock is currently owned by insiders.

About Procter & Gamble

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company 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, SK-II, and Native brands.