The Procter & Gamble Company (NYSE:PG) Shares Sold by Meridian Financial LLC

Meridian Financial LLC lowered its stake in The Procter & Gamble Company (NYSE:PG) by 20.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,855 shares of the company’s stock after selling 475 shares during the period. Meridian Financial LLC’s holdings in Procter & Gamble were worth $311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Concurrent Investment Advisors LLC boosted its position in shares of Procter & Gamble by 4.5% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock worth $16,300,000 after acquiring an additional 4,035 shares in the last quarter. Copley Financial Group Inc. acquired a new position in Procter & Gamble in the third quarter valued at approximately $668,000. Fortem Financial Group LLC purchased a new position in Procter & Gamble in the fourth quarter valued at approximately $569,000. Synovus Financial Corp raised its holdings in Procter & Gamble by 3.4% during the third quarter. Synovus Financial Corp now owns 185,134 shares of the company’s stock worth $32,065,000 after purchasing an additional 6,077 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Procter & Gamble by 7.5% during the 4th quarter. Nordea Investment Management AB now owns 2,898,569 shares of the company’s stock worth $484,583,000 after buying an additional 201,695 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Insiders Place Their Bets

In related news, CEO R. Alexandra Keith sold 1,992 shares of the firm’s 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 sale, the chief executive officer now directly owns 13,783 shares of the company’s stock, valued at approximately $2,343,110. This trade represents a 12.63 % 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, CEO Gary A. Coombe sold 47,847 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $179.84, for a total transaction of $8,604,804.48. Following the transaction, the chief executive officer now directly owns 39,977 shares of the company’s stock, valued at $7,189,463.68. This trade represents a 54.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,439 shares of company stock valued at $13,317,460 in the last quarter. 0.18% of the stock is currently owned by company insiders.

Procter & Gamble Price Performance

PG stock opened at $161.35 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75. The stock’s 50 day moving average price is $169.19 and its 200 day moving average price is $169.42. The firm has a market cap of $379.98 billion, a P/E ratio of 27.82, a PEG ratio of 3.41 and a beta of 0.45. The Procter & Gamble Company has a 1 year low of $146.28 and a 1 year high of $180.43.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Friday, October 18th. The company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. The business had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the company earned $1.83 earnings per share. On average, sell-side analysts expect that The Procter & Gamble Company will post 6.93 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th will be paid a $1.0065 dividend. The ex-dividend date of this dividend is Friday, January 24th. This represents a $4.03 annualized dividend and a yield of 2.50%. Procter & Gamble’s payout ratio is currently 69.31%.

Analyst Ratings Changes

Several brokerages recently commented on PG. Piper Sandler started coverage on shares of Procter & Gamble in a research note on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price target on the stock. Wells Fargo & Company dropped their price target on Procter & Gamble from $190.00 to $176.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $164.00 price objective on shares of Procter & Gamble in a research report on Monday, October 21st. JPMorgan Chase & Co. dropped their target price on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, 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 note on Monday, October 21st. Eight investment 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $179.65.

About Procter & Gamble

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.