The Procter & Gamble Company (NYSE:PG) Shares Sold by Salomon & Ludwin LLC

Salomon & Ludwin LLC cut its holdings in The Procter & Gamble Company (NYSE:PG) by 67.5% during the third quarter, Holdings Channel reports. The institutional investor owned 3,098 shares of the company’s stock after selling 6,426 shares during the quarter. Salomon & Ludwin LLC’s holdings in Procter & Gamble were worth $537,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PG. Itau Unibanco Holding S.A. purchased a new position in Procter & Gamble in the second quarter valued at about $28,000. Fairway Wealth LLC purchased a new position in Procter & Gamble in the 2nd quarter valued at approximately $29,000. Ruedi Wealth Management Inc. increased its stake in Procter & Gamble by 64.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock valued at $32,000 after purchasing an additional 77 shares in the last quarter. POM Investment Strategies LLC acquired a new position in Procter & Gamble during the second quarter worth $34,000. Finally, Quest Partners LLC purchased a new stake in Procter & Gamble during the second quarter worth $36,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Insiders Place Their Bets

In related news, CEO R. Alexandra Keith sold 3,373 shares of Procter & Gamble stock in a transaction on Monday, August 5th. The shares were sold at an average price of $170.00, for a total value of $573,410.00. Following the completion of the sale, the chief executive officer now owns 21,513 shares in the company, valued at approximately $3,657,210. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Procter & Gamble news, CEO R. Alexandra Keith sold 3,373 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $170.00, for a total value of $573,410.00. Following the transaction, the chief executive officer now owns 21,513 shares of the company’s stock, valued at $3,657,210. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Susan Street Whaley sold 634 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total transaction of $108,826.10. Following the transaction, the insider now owns 19,341 shares of the company’s stock, valued at $3,319,882.65. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 397,986 shares of company stock worth $67,642,430 in the last quarter. 0.17% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Jefferies Financial Group lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $182.00 to $175.00 in a research report on Wednesday, July 24th. Barclays downgraded Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price target for the company. in a research report on Monday, September 30th. Morgan Stanley upped their price objective on Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. lifted their price objective on Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. Finally, Piper Sandler began 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. Nine equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Procter & Gamble presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.00.

Procter & Gamble Price Performance

PG stock opened at $168.22 on Monday. The company has a market cap of $397.02 billion, a PE ratio of 27.49, a price-to-earnings-growth ratio of 3.67 and a beta of 0.41. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The stock has a 50-day moving average price of $171.93 and a two-hundred day moving average price of $167.69. The Procter & Gamble Company has a 12-month low of $142.50 and a 12-month high of $177.94.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Friday, October 18th. The company reported $1.93 EPS 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 for the quarter, compared to analyst estimates of $21.99 billion. During the same quarter last year, the firm posted $1.83 earnings per share. Procter & Gamble’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, research analysts predict that The Procter & Gamble Company will post 6.94 EPS for the current year.

Procter & Gamble Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be issued a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Friday, October 18th. Procter & Gamble’s dividend payout ratio is presently 65.69%.

About Procter & Gamble

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.