The Procter & Gamble Company (NYSE:PG) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA lowered its stake in The Procter & Gamble Company (NYSE:PG) by 1.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,181,534 shares of the company’s stock after selling 19,954 shares during the period. Procter & Gamble comprises 1.0% of Glenmede Trust Co. NA’s investment portfolio, making the stock its 15th biggest position. Glenmede Trust Co. NA owned approximately 0.05% of Procter & Gamble worth $204,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in PG. Itau Unibanco Holding S.A. purchased a new position in Procter & Gamble in the second quarter valued at $28,000. Fairway Wealth LLC purchased a new position in shares of Procter & Gamble in the 2nd quarter valued at about $29,000. POM Investment Strategies LLC acquired a new stake in shares of Procter & Gamble during the 2nd quarter worth about $34,000. Quest Partners LLC purchased a new stake in Procter & Gamble during the second quarter worth approximately $36,000. Finally, Fairfield Financial Advisors LTD acquired a new position in Procter & Gamble in the second quarter valued at approximately $44,000. 65.77% of the stock is owned by institutional investors and hedge funds.

Procter & Gamble Stock Performance

Shares of PG stock opened at $179.31 on Wednesday. The stock has a 50 day simple moving average of $170.11 and a 200-day simple moving average of $168.83. The Procter & Gamble Company has a 12-month low of $142.50 and a 12-month high of $179.46. The company has a market cap of $422.28 billion, a price-to-earnings ratio of 30.92, a price-to-earnings-growth ratio of 3.82 and a beta of 0.42. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last issued its earnings results on Friday, October 18th. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.90 by $0.03. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The company had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.99 billion. During the same period in the previous year, the firm earned $1.83 EPS. The business’s revenue was down .6% on a year-over-year basis. On average, equities analysts forecast that The Procter & Gamble Company will post 6.96 EPS for the current year.

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were given a dividend of $1.0065 per share. The ex-dividend date was Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.25%. Procter & Gamble’s payout ratio is 69.48%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PG. StockNews.com downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Barclays lowered Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price objective on the stock. in a report on Monday, September 30th. Piper Sandler started coverage on Procter & Gamble in a report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 target price for the company. DA Davidson upgraded Procter & Gamble from a “neutral” rating to a “buy” rating and raised their price target for the stock from $160.00 to $209.00 in a research note on Monday. Finally, DZ Bank upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a research note on Thursday, August 29th. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Procter & Gamble has a consensus rating of “Moderate Buy” and a consensus target price of $180.45.

Insider Transactions at Procter & Gamble

In related news, insider Susan Street Whaley sold 634 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total transaction of $108,826.10. Following the sale, the insider now owns 19,341 shares of the company’s stock, valued at $3,319,882.65. This trade represents a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Balaji Purushothaman sold 12,800 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the completion of the sale, the insider now directly owns 11,566 shares in the company, valued at $1,954,538.34. This represents a 52.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,233 shares of company stock valued at $6,024,234 in the last quarter. 0.18% of the stock is currently owned by corporate insiders.

Procter & Gamble 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.