1832 Asset Management L.P. Sells 620,327 Shares of The Procter & Gamble Company (NYSE:PG)

1832 Asset Management L.P. lowered its stake in The Procter & Gamble Company (NYSE:PGGet Rating) by 46.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 722,401 shares of the company’s stock after selling 620,327 shares during the quarter. 1832 Asset Management L.P.’s holdings in Procter & Gamble were worth $108,875,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. PrairieView Partners LLC raised its holdings in Procter & Gamble by 5.8% in the 1st quarter. PrairieView Partners LLC now owns 1,141 shares of the company’s stock worth $174,000 after acquiring an additional 63 shares during the period. Apeiron RIA LLC increased its holdings in shares of Procter & Gamble by 2.2% during the 1st quarter. Apeiron RIA LLC now owns 2,985 shares of the company’s stock worth $475,000 after purchasing an additional 64 shares during the period. Ambassador Advisors LLC increased its holdings in shares of Procter & Gamble by 2.2% during the 4th quarter. Ambassador Advisors LLC now owns 3,033 shares of the company’s stock worth $496,000 after purchasing an additional 65 shares during the period. Perennial Investment Advisors LLC increased its holdings in shares of Procter & Gamble by 1.1% during the 1st quarter. Perennial Investment Advisors LLC now owns 5,889 shares of the company’s stock worth $900,000 after purchasing an additional 65 shares during the period. Finally, Tranquility Partners LLC increased its holdings in shares of Procter & Gamble by 3.9% during the 1st quarter. Tranquility Partners LLC now owns 1,757 shares of the company’s stock worth $268,000 after purchasing an additional 66 shares during the period. Institutional investors own 63.45% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on PG. Barclays dropped their price objective on shares of Procter & Gamble from $157.00 to $154.00 and set an “overweight” rating on the stock in a report on Tuesday, August 2nd. Truist Financial dropped their price objective on shares of Procter & Gamble from $175.00 to $160.00 and set a “buy” rating on the stock in a report on Monday, August 1st. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Procter & Gamble from $171.00 to $157.00 and set a “buy” rating on the stock in a report on Tuesday, June 21st. Evercore ISI set a $170.00 price objective on shares of Procter & Gamble in a report on Monday, June 20th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Procter & Gamble from $165.00 to $156.00 in a research note on Thursday, July 21st. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $162.93.

Procter & Gamble Price Performance

NYSE:PG opened at $141.10 on Tuesday. The firm has a market cap of $336.59 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 3.87 and a beta of 0.35. The Procter & Gamble Company has a 12 month low of $129.50 and a 12 month high of $165.35. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $143.95 and its two-hundred day moving average price is $148.16.

Procter & Gamble (NYSE:PGGet Rating) last released its quarterly earnings results on Friday, July 29th. The company reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The firm had revenue of $19.52 billion during the quarter, compared to analyst estimates of $19.41 billion. Procter & Gamble had a net margin of 18.39% and a return on equity of 32.67%. Procter & Gamble’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.13 earnings per share. On average, equities analysts anticipate that The Procter & Gamble Company will post 5.94 EPS for the current fiscal year.

Procter & Gamble Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Friday, July 22nd were given a dividend of $0.913 per share. The ex-dividend date of this dividend was Thursday, July 21st. This represents a $3.65 dividend on an annualized basis and a dividend yield of 2.59%. Procter & Gamble’s payout ratio is 62.82%.

Insider Transactions at Procter & Gamble

In other news, CEO Ma. Fatima Francisco sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $145.00, for a total transaction of $290,000.00. Following the transaction, the chief executive officer now directly owns 5,026 shares in the company, valued at $728,770. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Ma. Fatima Francisco sold 2,000 shares of the stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $145.00, for a total transaction of $290,000.00. Following the completion of the transaction, the chief executive officer now owns 5,026 shares in the company, valued at $728,770. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Susan Street Whaley sold 907 shares of the stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $149.33, for a total transaction of $135,442.31. Following the transaction, the insider now owns 6,253 shares of the company’s stock, valued at approximately $933,760.49. The disclosure for this sale can be found here. Over the last three months, insiders have sold 289,321 shares of company stock worth $42,559,426. Corporate insiders own 0.26% of the company’s stock.

About Procter & Gamble

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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.

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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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