Parallel Advisors LLC Has $10.77 Million Stock Position in The Procter & Gamble Company (NYSE:PG)

Parallel Advisors LLC lifted its position in shares of The Procter & Gamble Company (NYSE:PG) by 0.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 64,257 shares of the company’s stock after buying an additional 402 shares during the quarter. Parallel Advisors LLC’s holdings in Procter & Gamble were worth $10,773,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC grew its position in 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 acquiring an additional 3,619,466 shares during the last quarter. FMR LLC grew its position in 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 last quarter. Franklin Resources Inc. grew its holdings in shares of Procter & Gamble by 10.2% during the third 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 grew its holdings in shares of Procter & Gamble by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 18,692,813 shares of the company’s stock worth $3,133,850,000 after purchasing an additional 312,203 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Procter & Gamble by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 16,881,907 shares of the company’s stock worth $2,830,252,000 after purchasing an additional 459,437 shares during the last quarter. Institutional investors own 65.77% of the company’s stock.

Insider Activity at Procter & Gamble

In related news, insider Marc S. Pritchard sold 90,450 shares of the firm’s stock in a transaction dated 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 $28,313,845.76. This trade represents a 34.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gary A. Coombe sold 18,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $171.66, for a total value of $3,089,880.00. Following the completion of the sale, the chief executive officer now directly owns 22,051 shares in the company, valued at approximately $3,785,274.66. The trade was a 44.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 143,450 shares of company stock valued at $23,988,008 over the last quarter. 0.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PG shares. Piper Sandler reduced their price target on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. Royal Bank of Canada reissued a “sector perform” rating and issued a $164.00 price target on shares of Procter & Gamble in a research note on Thursday, January 23rd. JPMorgan Chase & Co. decreased their price objective on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. DA Davidson reiterated a “buy” rating and set a $209.00 price target on shares of Procter & Gamble in a report on Thursday, January 23rd. Finally, Stifel Nicolaus upped their price target on Procter & Gamble from $161.00 to $165.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $181.47.

Procter & Gamble Stock Down 0.2 %

Shares of PG opened at $168.20 on Monday. The business’s 50 day simple moving average is $167.27 and its 200-day simple moving average is $169.81. 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 capitalization of $394.39 billion, a price-to-earnings ratio of 26.78, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55.

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

Procter & Gamble Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 24th were given a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date was Friday, January 24th. Procter & Gamble’s payout ratio is currently 64.01%.

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.