Carnegie Investment Counsel Cuts Stock Holdings in The Procter & Gamble Company (NYSE:PG)

Carnegie Investment Counsel trimmed its position in shares of The Procter & Gamble Company (NYSE:PG) by 11.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 58,028 shares of the company’s stock after selling 7,267 shares during the period. Carnegie Investment Counsel’s holdings in Procter & Gamble were worth $10,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PG. Wulff Hansen & CO. increased its holdings in Procter & Gamble by 16,292.0% in the 2nd quarter. Wulff Hansen & CO. now owns 3,675,902 shares of the company’s stock worth $606,230,000 after acquiring an additional 3,653,477 shares in the last quarter. TD Asset Management Inc increased its holdings in Procter & Gamble by 114.9% in the 1st quarter. TD Asset Management Inc now owns 3,568,671 shares of the company’s stock worth $579,017,000 after acquiring an additional 1,907,716 shares in the last quarter. AMF Tjanstepension AB increased its holdings in Procter & Gamble by 416.1% in the 3rd quarter. AMF Tjanstepension AB now owns 1,818,490 shares of the company’s stock worth $315,016,000 after acquiring an additional 1,466,115 shares in the last quarter. Swedbank AB purchased a new stake in Procter & Gamble in the 1st quarter worth $233,788,000. Finally, Ilex Capital Partners UK LLP purchased a new stake in Procter & Gamble in the 1st quarter worth $228,212,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PG has been the subject of a number of research reports. DA Davidson initiated coverage on shares of Procter & Gamble in a report on Wednesday. They set a “neutral” rating and a $159.00 target price for the company. Hsbc Global Res raised shares of Procter & Gamble to a “strong-buy” rating in a report on Friday, October 4th. Piper Sandler initiated coverage on shares of Procter & Gamble in a report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price for the company. Deutsche Bank Aktiengesellschaft upped their target price on shares of Procter & Gamble from $171.00 to $176.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Stifel Nicolaus boosted their price target on shares of Procter & Gamble from $157.00 to $161.00 and gave the company a “hold” rating in a research report on Monday, July 22nd. Nine investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $176.21.

Insider Buying and Selling

In related news, CEO Jon R. Moeller sold 7,007 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total transaction of $1,202,751.55. Following the sale, the chief executive officer now directly owns 269,172 shares in the company, valued at approximately $46,203,373.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Procter & Gamble news, CEO Ma. Fatima Francisco sold 96,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $170.00, for a total value of $16,320,000.00. Following the transaction, the chief executive officer now directly owns 13,721 shares in the company, valued at $2,332,570. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jon R. Moeller sold 7,007 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total transaction of $1,202,751.55. Following the completion of the transaction, the chief executive officer now owns 269,172 shares in the company, valued at $46,203,373.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 383,194 shares of company stock worth $65,140,718. Company insiders own 0.17% of the company’s stock.

Procter & Gamble Stock Up 1.3 %

Shares of PG opened at $171.09 on Friday. The stock has a market capitalization of $403.80 billion, a PE ratio of 27.96, a P/E/G ratio of 3.67 and a beta of 0.41. The Procter & Gamble Company has a 1 year low of $141.66 and a 1 year high of $177.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.53 and a current ratio of 0.73. The company’s 50-day simple moving average is $171.48 and its 200-day simple moving average is $166.78.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.03. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The business had revenue of $20.53 billion for the quarter, compared to analysts’ expectations of $20.69 billion. During the same quarter in the prior year, the company earned $1.37 earnings per share. The business’s quarterly revenue was down .1% on a year-over-year basis. Analysts forecast that The Procter & Gamble Company will post 6.97 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be paid a dividend of $1.0065 per share. The ex-dividend date is Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.35%. Procter & Gamble’s payout ratio is 65.69%.

Procter & Gamble Company Profile

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.