The Procter & Gamble Company (NYSE:PG) Position Cut by Forbes J M & Co. LLP

Forbes J M & Co. LLP lowered its holdings in The Procter & Gamble Company (NYSE:PG) by 1.4% in the third quarter, HoldingsChannel reports. The firm owned 117,580 shares of the company’s stock after selling 1,656 shares during the quarter. Procter & Gamble makes up approximately 2.0% of Forbes J M & Co. LLP’s holdings, making the stock its 9th biggest holding. Forbes J M & Co. LLP’s holdings in Procter & Gamble were worth $20,365,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Welch Group LLC grew its holdings in Procter & Gamble by 0.9% during the 3rd quarter. Welch Group LLC now owns 323,870 shares of the company’s stock worth $56,094,000 after acquiring an additional 2,990 shares in the last quarter. Southern Capital Advisors LLC lifted its holdings in shares of Procter & Gamble by 3.6% in the 3rd quarter. Southern Capital Advisors LLC now owns 22,323 shares of the company’s stock valued at $3,866,000 after purchasing an additional 767 shares during the last quarter. Motiv8 Investments LLC grew its position in shares of Procter & Gamble by 11.8% during the third quarter. Motiv8 Investments LLC now owns 5,638 shares of the company’s stock worth $977,000 after acquiring an additional 593 shares during the last quarter. Richardson Financial Services Inc. raised its stake in Procter & Gamble by 19.0% during the 3rd quarter. Richardson Financial Services Inc. now owns 1,877 shares of the company’s stock valued at $312,000 after acquiring an additional 300 shares during the last quarter. Finally, New World Advisors LLC purchased a new position in shares of Procter & Gamble in the 3rd quarter valued at approximately $208,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Insider Activity

In other news, insider Balaji Purushothaman sold 8,842 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $164.90, for a total value of $1,458,045.80. Following the sale, the insider now owns 11,537 shares of the company’s stock, valued at approximately $1,902,451.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Andre Schulten sold 13,041 shares of Procter & Gamble 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 owns 37,208 shares in the company, valued at approximately $6,325,360. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Balaji Purushothaman sold 8,842 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 11,537 shares of the company’s stock, valued at approximately $1,902,451.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 397,986 shares of company stock valued at $67,642,430. 0.17% of the stock is currently owned by company insiders.

Procter & Gamble Stock Performance

Shares of NYSE PG traded up $0.77 during trading on Monday, reaching $168.99. The stock had a trading volume of 750,857 shares, compared to its average volume of 6,640,942. The firm’s 50 day moving average price is $171.93 and its two-hundred day moving average price is $167.69. The Procter & Gamble Company has a one year low of $142.50 and a one year high of $177.94. The stock has a market cap of $398.84 billion, a PE ratio of 27.49, a P/E/G ratio of 3.67 and a beta of 0.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75.

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, beating analysts’ consensus estimates of $1.90 by $0.03. The business had revenue of $21.74 billion during the quarter, compared to the consensus estimate of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.83 EPS. On average, research analysts forecast that The Procter & Gamble Company will post 6.94 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be paid a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Friday, October 18th. Procter & Gamble’s payout ratio is 65.69%.

Wall Street Analyst Weigh In

Several research firms have recently commented on PG. Piper Sandler assumed coverage on shares of Procter & Gamble in a research note on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 target price for the company. Citigroup raised their target price on Procter & Gamble from $177.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Stifel Nicolaus raised 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. StockNews.com cut Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, TD Cowen initiated coverage on shares of Procter & Gamble in a research note on Tuesday, July 23rd. They set a “buy” rating and a $189.00 price objective for the company. Nine equities 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $177.00.

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.