Jennison Associates LLC Has $137.09 Million Stock Holdings in The Procter & Gamble Company (NYSE:PG)

Jennison Associates LLC cut its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 23.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 844,955 shares of the company’s stock after selling 255,681 shares during the period. Jennison Associates LLC’s holdings in Procter & Gamble were worth $137,094,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Advantage Trust Co bought a new stake in shares of Procter & Gamble in the 4th quarter valued at $28,000. Wyrmwood Management LLC bought a new stake in Procter & Gamble during the 4th quarter valued at $29,000. Naples Money Management LLC bought a new stake in Procter & Gamble during the 4th quarter valued at $29,000. Transcendent Capital Group LLC bought a new stake in Procter & Gamble during the 4th quarter valued at $31,000. Finally, Criterion Capital Advisors LLC bought a new stake in Procter & Gamble during the 4th quarter valued at $33,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Procter & Gamble Trading Down 0.5 %

NYSE:PG traded down $0.76 during trading hours on Tuesday, reaching $165.76. The company’s stock had a trading volume of 1,833,697 shares, compared to its average volume of 6,518,654. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.48 and a current ratio of 0.69. The firm has a market capitalization of $391.22 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 3.15 and a beta of 0.41. The firm has a 50-day simple moving average of $165.92 and a 200-day simple moving average of $159.71. The Procter & Gamble Company has a 1 year low of $141.45 and a 1 year high of $169.41.

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. BNP Paribas assumed coverage on shares of Procter & Gamble in a research note on Monday, June 24th. They set an “outperform” rating and a $187.00 price target for the company. Truist Financial raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $160.00 to $175.00 in a report on Monday, March 11th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Procter & Gamble from $172.00 to $171.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Barclays lifted their price objective on shares of Procter & Gamble from $168.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, April 23rd. Finally, StockNews.com raised shares of Procter & Gamble from a “hold” rating to a “buy” rating in a report on Tuesday, June 25th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $170.72.

Insider Buying and Selling at Procter & Gamble

In related news, CEO R. Alexandra Keith sold 855 shares of Procter & Gamble stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $158.50, for a total value of $135,517.50. Following the transaction, the chief executive officer now directly owns 4,004 shares of the company’s stock, valued at $634,634. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO R. Alexandra Keith sold 855 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was 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 owns 4,004 shares in the company, valued at $634,634. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Gary A. Coombe sold 21,388 shares of Procter & Gamble stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $164.98, for a total transaction of $3,528,592.24. Following the completion of the sale, the chief executive officer now owns 36,854 shares in the company, valued at approximately $6,080,172.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 154,544 shares of company stock worth $25,413,051. 0.17% of the stock is currently owned by insiders.

About Procter & Gamble

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.