Portside Wealth Group LLC Sells 7,057 Shares of The Procter & Gamble Company (NYSE:PG)

Portside Wealth Group LLC cut its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 37.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,990 shares of the company’s stock after selling 7,057 shares during the period. Portside Wealth Group LLC’s holdings in Procter & Gamble were worth $2,077,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Itau Unibanco Holding S.A. bought a new stake in shares of Procter & Gamble during the second quarter valued at approximately $28,000. Fairway Wealth LLC bought a new position in Procter & Gamble in the 2nd quarter valued at $29,000. Ruedi Wealth Management Inc. increased 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 valued at $32,000 after buying an additional 77 shares during the period. POM Investment Strategies LLC bought a new stake in shares of Procter & Gamble during the second quarter worth $34,000. Finally, Quest Partners LLC acquired a new position in shares of Procter & Gamble during the second quarter valued at $36,000. 65.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PG has been the subject of a number of research reports. Dbs Bank lowered Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Piper Sandler began coverage on shares of Procter & Gamble in a research report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price target for the company. Morgan Stanley increased their price objective on shares of Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, October 21st. JPMorgan Chase & Co. upped their target price on shares of Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Finally, Barclays lowered Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price target on the stock. in a research report on Monday, September 30th. Nine investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $177.00.

Procter & Gamble Trading Up 1.5 %

Shares of NYSE:PG opened at $163.41 on Friday. The firm has a market cap of $384.84 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 3.57 and a beta of 0.42. The Procter & Gamble Company has a 12 month low of $142.50 and a 12 month high of $177.94. The company’s fifty day simple moving average is $171.29 and its 200 day simple moving average is $168.13. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.03. The firm had revenue of $21.74 billion for the quarter, compared to the consensus estimate of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the business posted $1.83 EPS. As a group, research analysts forecast that The Procter & Gamble Company will post 6.94 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date is Friday, October 18th. Procter & Gamble’s dividend payout ratio (DPR) is currently 69.48%.

Insider Transactions at Procter & Gamble

In related news, insider Susan Street Whaley sold 450 shares of the stock in a transaction on 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 transaction, the insider now owns 13,072 shares in the company, valued at approximately $2,212,043.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Susan Street Whaley sold 450 shares of Procter & Gamble stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $169.22, for a total value of $76,149.00. Following the sale, the insider now owns 13,072 shares of the company’s stock, valued at approximately $2,212,043.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO R. Alexandra Keith sold 1,992 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $170.00, for a total value of $338,640.00. Following the transaction, the chief executive officer now directly owns 13,783 shares of the company’s stock, valued at $2,343,110. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 313,597 shares of company stock valued at $53,268,499 in the last ninety days. 0.18% of the stock is currently owned by corporate insiders.

Procter & Gamble Company Profile

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.