Morse Asset Management Inc Decreases Position in The Procter & Gamble Company (NYSE:PG)

Morse Asset Management Inc trimmed its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,383 shares of the company’s stock after selling 140 shares during the period. Morse Asset Management Inc’s holdings in Procter & Gamble were worth $932,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. FMR LLC increased its position in shares of Procter & Gamble by 2.7% in the third quarter. FMR LLC now owns 26,556,319 shares of the company’s stock valued at $4,599,554,000 after acquiring an additional 689,282 shares during the period. Legal & General Group Plc grew its position in shares of Procter & Gamble by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 21,632,054 shares of the company’s stock worth $3,567,556,000 after buying an additional 122,190 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Procter & Gamble by 4.7% during the third quarter. Fisher Asset Management LLC now owns 18,380,610 shares of the company’s stock valued at $3,183,522,000 after buying an additional 830,476 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Procter & Gamble by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 16,422,470 shares of the company’s stock valued at $2,844,442,000 after acquiring an additional 105,734 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Procter & Gamble by 3.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,049,651 shares of the company’s stock worth $2,433,400,000 after acquiring an additional 426,409 shares during the period. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Procter & Gamble Stock Down 2.4 %

Shares of PG opened at $175.42 on Wednesday. The stock’s 50-day moving average price is $170.64 and its 200-day moving average price is $169.25. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $413.12 billion, a price-to-earnings ratio of 30.24, a PEG ratio of 3.87 and a beta of 0.44. The Procter & Gamble Company has a 52 week low of $142.50 and a 52 week high of $180.43.

Procter & Gamble (NYSE:PG) last posted its earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, beating 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 firm had revenue of $21.74 billion during 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 quarterly revenue was down .6% on a year-over-year basis. On average, sell-side analysts predict that The Procter & Gamble Company will post 6.97 EPS for the current year.

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were paid a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a dividend yield of 2.30%. The ex-dividend date was Friday, October 18th. Procter & Gamble’s payout ratio is currently 69.31%.

Insider Activity at Procter & Gamble

In other news, insider Susan Street Whaley sold 634 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total transaction of $108,826.10. Following the completion of the sale, the insider now owns 19,341 shares of the company’s stock, valued at $3,319,882.65. The trade was a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jon R. Moeller sold 7,007 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total value of $1,202,751.55. Following the sale, the chief executive officer now owns 269,172 shares of the company’s stock, valued at approximately $46,203,373.80. This trade represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 83,080 shares of company stock worth $14,629,038 in the last 90 days. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Evercore ISI raised their target price on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Barclays lowered Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price objective for the company. in a research report on Monday, September 30th. Wolfe Research raised Procter & Gamble to a “strong-buy” rating in a research report on Friday, August 23rd. 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 price target on the stock. Finally, Hsbc Global Res raised shares of Procter & Gamble to a “strong-buy” rating in a report on Friday, October 4th. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $180.45.

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.