Chronos Wealth Management LLC Decreases Stake in The Procter & Gamble Company (NYSE:PG)

Chronos Wealth Management LLC lowered its stake in shares of The Procter & Gamble Company (NYSE:PG) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,651 shares of the company’s stock after selling 172 shares during the period. Procter & Gamble comprises 3.0% of Chronos Wealth Management LLC’s portfolio, making the stock its 14th largest holding. Chronos Wealth Management LLC’s holdings in Procter & Gamble were worth $5,809,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of Procter & Gamble by 7.0% in the third quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock valued at $9,538,327,000 after buying an additional 3,619,466 shares in the last quarter. FMR LLC grew 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 purchasing an additional 689,282 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Procter & Gamble by 10.2% during the 3rd quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock worth $3,290,573,000 after purchasing an additional 1,760,214 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Procter & Gamble by 4.7% in the 3rd 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in 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 worth $2,844,442,000 after buying an additional 105,734 shares in the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

Procter & Gamble Stock Performance

NYSE:PG opened at $167.99 on Friday. The Procter & Gamble Company has a 1-year low of $153.52 and a 1-year high of $180.43. The stock has a market cap of $393.91 billion, a P/E ratio of 26.75, a PEG ratio of 3.79 and a beta of 0.45. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55. The firm has a 50-day moving average of $167.30 and a two-hundred day moving average of $169.40.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.02. The firm had revenue of $21.88 billion during the quarter, compared to analyst estimates of $21.66 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. Procter & Gamble’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.84 EPS. On average, research analysts expect that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th will be issued a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a yield of 2.40%. The ex-dividend date is Friday, January 24th. Procter & Gamble’s dividend payout ratio is currently 64.17%.

Insider Activity

In related news, insider Marc S. Pritchard sold 90,450 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the sale, the insider now directly owns 172,814 shares of the company’s stock, valued at approximately $28,313,845.76. This represents a 34.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Balaji Purushothaman sold 12,800 shares of Procter & Gamble stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $172.73, for a total transaction of $2,210,944.00. Following the completion of the transaction, the insider now directly owns 11,595 shares of the company’s stock, valued at approximately $2,002,804.35. This represents a 52.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 151,097 shares of company stock worth $25,635,076. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on PG shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $164.00 price objective on shares of Procter & Gamble in a research note on Thursday, January 23rd. Evercore ISI boosted their price target on Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a report on Monday, October 21st. DA Davidson reaffirmed a “buy” rating and issued a $209.00 price objective on shares of Procter & Gamble in a research report on Thursday, January 23rd. Barclays upped their price objective on shares of Procter & Gamble from $155.00 to $159.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. Finally, Stifel Nicolaus increased their price target on shares of Procter & Gamble from $161.00 to $165.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. Eight investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Procter & Gamble currently has an average rating of “Moderate Buy” and an average target price of $180.53.

Procter & Gamble Profile

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.