SP Asset Management LLC Has $6.70 Million Stake in The Procter & Gamble Company (NYSE:PG)

SP Asset Management LLC decreased its stake in The Procter & Gamble Company (NYSE:PG) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,980 shares of the company’s stock after selling 153 shares during the quarter. SP Asset Management LLC’s holdings in Procter & Gamble were worth $6,703,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Raymond James Financial Inc. bought a new position in shares of Procter & Gamble during the 4th quarter valued at about $1,010,685,000. Geode Capital Management LLC grew its holdings in shares of Procter & Gamble by 7.0% in the 3rd 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 in the last quarter. Franklin Resources Inc. increased its position in shares of Procter & Gamble by 10.2% during the 3rd 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. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Procter & Gamble during the third quarter worth $301,950,000. Finally, Proficio Capital Partners LLC raised its holdings in shares of Procter & Gamble by 25,115.7% in the 4th quarter. Proficio Capital Partners LLC now owns 1,736,857 shares of the company’s stock valued at $291,184,000 after purchasing an additional 1,729,969 shares during the period. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Marc S. Pritchard sold 90,450 shares of the business’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 completion of the transaction, the insider now directly owns 172,814 shares in the company, valued at $28,313,845.76. The trade was a 34.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gary A. Coombe sold 18,000 shares of the firm’s stock in a transaction dated 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 143,450 shares of company stock valued at $23,988,008. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PG. Stifel Nicolaus raised their price target on Procter & Gamble from $161.00 to $165.00 and gave the company a “hold” rating in a report on Thursday, January 23rd. Wells Fargo & Company upped their target price on Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Royal Bank of Canada restated a “sector perform” rating and issued a $164.00 price target on shares of Procter & Gamble in a research note on Thursday, January 23rd. 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. Finally, Barclays lifted their target price on Procter & Gamble from $155.00 to $159.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $181.11.

Procter & Gamble Stock Performance

NYSE PG opened at $174.83 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76. The company has a market capitalization of $409.95 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 3.76 and a beta of 0.45. The Procter & Gamble Company has a 52-week low of $153.52 and a 52-week high of $180.43. The company has a 50-day simple moving average of $166.64 and a 200 day simple moving average of $169.69.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $21.66 billion. During the same quarter in the prior year, the company earned $1.84 EPS. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, research analysts predict that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 24th were paid a dividend of $1.0065 per share. The ex-dividend date was Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.30%. Procter & Gamble’s payout ratio is 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.