Paradigm Strategies in Wealth Management LLC Sells 2,178 Shares of The Procter & Gamble Company (NYSE:PG)

Paradigm Strategies in Wealth Management LLC cut its holdings in The Procter & Gamble Company (NYSE:PG) by 7.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,252 shares of the company’s stock after selling 2,178 shares during the quarter. Procter & Gamble accounts for 3.0% of Paradigm Strategies in Wealth Management LLC’s investment portfolio, making the stock its 7th largest holding. Paradigm Strategies in Wealth Management LLC’s holdings in Procter & Gamble were worth $4,720,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PG. OneAscent Wealth Management LLC increased its position in shares of Procter & Gamble by 24.6% during the first quarter. OneAscent Wealth Management LLC now owns 2,240 shares of the company’s stock worth $363,000 after acquiring an additional 442 shares in the last quarter. Norris Perne & French LLP MI increased its position in shares of Procter & Gamble by 26.3% during the first quarter. Norris Perne & French LLP MI now owns 3,145 shares of the company’s stock worth $510,000 after acquiring an additional 655 shares in the last quarter. Independence Bank of Kentucky increased its position in shares of Procter & Gamble by 7.8% during the first quarter. Independence Bank of Kentucky now owns 29,187 shares of the company’s stock worth $4,736,000 after acquiring an additional 2,110 shares in the last quarter. Occidental Asset Management LLC increased its position in shares of Procter & Gamble by 14.6% during the first quarter. Occidental Asset Management LLC now owns 2,500 shares of the company’s stock worth $406,000 after acquiring an additional 318 shares in the last quarter. Finally, Hodges Capital Management Inc. increased its position in shares of Procter & Gamble by 14.7% during the first quarter. Hodges Capital Management Inc. now owns 9,912 shares of the company’s stock worth $1,608,000 after acquiring an additional 1,273 shares in the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

Procter & Gamble Stock Performance

Shares of PG stock opened at $168.22 on Friday. The stock has a market capitalization of $396.16 billion, a P/E ratio of 29.00, a PEG 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 firm’s 50 day moving average is $171.93 and its 200 day moving average is $167.62. 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 announced its quarterly earnings results on Friday, October 18th. The company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. The company had revenue of $21.74 billion for the quarter, compared to analysts’ expectations of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. Procter & Gamble’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.83 EPS. On average, sell-side analysts anticipate that The Procter & Gamble Company will post 6.94 earnings per share for the current year.

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be paid a $1.0065 dividend. This represents a $4.03 annualized dividend 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 69.48%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PG. Dbs Bank downgraded shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. TD Cowen started coverage on shares of Procter & Gamble in a research report on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on shares of Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. Piper Sandler started coverage on shares of Procter & Gamble in a research report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price objective for the company. Finally, Evercore ISI upped their price objective on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Nine investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $177.00.

Insiders Place Their Bets

In other Procter & Gamble news, insider Balaji Purushothaman sold 12,800 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total value of $2,163,072.00. Following the sale, the insider now directly owns 11,566 shares in the company, valued at $1,954,538.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Procter & Gamble news, insider Balaji Purushothaman sold 12,800 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total value of $2,163,072.00. Following the sale, the insider now directly owns 11,566 shares in the company, valued at $1,954,538.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO R. Alexandra Keith sold 3,373 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $170.00, for a total transaction of $573,410.00. Following the completion of the sale, the chief executive officer now owns 21,513 shares in the company, valued at $3,657,210. This represents a 0.00 % decrease in their ownership of the stock. 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 three months. 0.18% of the stock is currently owned by corporate insiders.

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.