Northcape Wealth Management LLC Sells 1,639 Shares of The Procter & Gamble Company (NYSE:PG)

Northcape Wealth Management LLC cut its stake in The Procter & Gamble Company (NYSE:PG) by 14.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,722 shares of the company’s stock after selling 1,639 shares during the period. Northcape Wealth Management LLC’s holdings in Procter & Gamble were worth $1,577,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Wellington Management Group LLP raised its stake in shares of Procter & Gamble by 9.4% during the third quarter. Wellington Management Group LLP now owns 35,608,913 shares of the company’s stock worth $5,193,916,000 after buying an additional 3,047,557 shares during the last quarter. Norges Bank bought a new stake in shares of Procter & Gamble during the fourth quarter worth approximately $3,956,117,000. Charles Schwab Investment Management Inc. raised its stake in shares of Procter & Gamble by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 16,209,425 shares of the company’s stock worth $2,336,552,000 after buying an additional 206,165 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Procter & Gamble by 5.6% during the fourth quarter. Fisher Asset Management LLC now owns 10,556,988 shares of the company’s stock worth $1,547,021,000 after buying an additional 559,358 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Procter & Gamble by 2.6% during the fourth quarter. Franklin Resources Inc. now owns 9,571,693 shares of the company’s stock worth $1,402,636,000 after buying an additional 246,323 shares during the last quarter. 65.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PG. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Procter & Gamble from $172.00 to $171.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Jefferies Financial Group boosted their price objective on shares of Procter & Gamble from $175.00 to $182.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Argus boosted their price objective on shares of Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, April 25th. StockNews.com upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating in a report on Tuesday, June 25th. Finally, Truist Financial upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and boosted their price objective for the company from $160.00 to $175.00 in a report on Monday, March 11th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Procter & Gamble currently has an average rating of “Moderate Buy” and an average target price of $170.72.

Insiders Place Their Bets

In other Procter & Gamble news, CEO Sundar G. Raman sold 31,924 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $166.95, for a total transaction of $5,329,711.80. Following the sale, the chief executive officer now directly owns 19,042 shares of the company’s stock, valued at $3,179,061.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Sundar G. Raman sold 31,924 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $166.95, for a total value of $5,329,711.80. Following the transaction, the chief executive officer now directly owns 19,042 shares of the company’s stock, valued at $3,179,061.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO R. Alexandra Keith sold 855 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $158.50, for a total transaction of $135,517.50. Following the completion of the transaction, the chief executive officer now directly owns 4,004 shares in the company, valued at $634,634. The disclosure for this sale can be found here. Over the last three months, insiders have sold 154,544 shares of company stock valued at $25,413,051. 0.17% of the stock is currently owned by corporate insiders.

Procter & Gamble Stock Up 0.8 %

PG traded up $1.38 during trading hours on Friday, hitting $165.21. 6,509,248 shares of the company’s stock were exchanged, compared to its average volume of 5,655,382. The Procter & Gamble Company has a 1-year low of $141.45 and a 1-year high of $169.41. The stock’s 50-day moving average is $165.82 and its two-hundred day moving average is $159.35. The stock has a market cap of $389.92 billion, a price-to-earnings ratio of 27.00, a PEG ratio of 3.13 and a beta of 0.41. The company has a quick ratio of 0.48, a current ratio of 0.69 and a debt-to-equity ratio of 0.49.

Procter & Gamble (NYSE:PG) last announced its earnings results on Friday, April 19th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.42 by $0.10. Procter & Gamble had a net margin of 18.00% and a return on equity of 33.91%. The business had revenue of $20.20 billion during the quarter, compared to analysts’ expectations of $20.43 billion. During the same quarter in the prior year, the company posted $1.37 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. Sell-side analysts predict that The Procter & Gamble Company will post 6.55 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th were given a dividend of $1.0065 per share. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.94. This represents a $4.03 annualized dividend and a yield of 2.44%. The ex-dividend date was Thursday, April 18th. Procter & Gamble’s dividend payout ratio is 65.85%.

Procter & Gamble Profile

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.