State of Alaska Department of Revenue Has $55.43 Million Holdings in The Procter & Gamble Company (NYSE:PG)

State of Alaska Department of Revenue lessened its position in shares of The Procter & Gamble Company (NYSE:PGGet Rating) by 13.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 385,502 shares of the company’s stock after selling 58,892 shares during the period. Procter & Gamble accounts for 0.7% of State of Alaska Department of Revenue’s holdings, making the stock its 17th biggest holding. State of Alaska Department of Revenue’s holdings in Procter & Gamble were worth $55,430,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PG. Lansing Street Advisors bought a new position in Procter & Gamble during the first quarter worth $37,000. Western Pacific Wealth Management LP bought a new stake in Procter & Gamble in the fourth quarter valued at $40,000. Dravo Bay LLC bought a new stake in Procter & Gamble in the first quarter valued at $40,000. Retirement Group LLC increased its stake in Procter & Gamble by 48.2% in the first quarter. Retirement Group LLC now owns 283 shares of the company’s stock valued at $43,000 after purchasing an additional 92 shares in the last quarter. Finally, IAG Wealth Partners LLC increased its stake in Procter & Gamble by 31.0% in the first quarter. IAG Wealth Partners LLC now owns 317 shares of the company’s stock valued at $48,000 after purchasing an additional 75 shares in the last quarter. Institutional investors own 63.45% of the company’s stock.

Procter & Gamble Stock Up 0.6 %

Procter & Gamble stock opened at $138.28 on Monday. The Procter & Gamble Company has a fifty-two week low of $129.50 and a fifty-two week high of $165.35. The stock has a market cap of $329.87 billion, a PE ratio of 23.80, a price-to-earnings-growth ratio of 3.55 and a beta of 0.35. The firm’s 50-day simple moving average is $143.26 and its 200 day simple moving average is $147.63. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.45 and a current ratio of 0.65.

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

Procter & Gamble Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Friday, July 22nd were issued a dividend of $0.913 per share. This represents a $3.65 annualized dividend and a yield of 2.64%. The ex-dividend date was Thursday, July 21st. Procter & Gamble’s dividend payout ratio (DPR) is presently 62.82%.

Analyst Upgrades and Downgrades

PG has been the subject of several research analyst reports. StockNews.com downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Wednesday, September 14th. JPMorgan Chase & Co. decreased their price target on shares of Procter & Gamble from $165.00 to $156.00 in a research note on Thursday, July 21st. Wells Fargo & Company decreased their price target on shares of Procter & Gamble from $170.00 to $160.00 in a research note on Friday, July 22nd. Truist Financial decreased their price target on shares of Procter & Gamble from $175.00 to $160.00 and set a “buy” rating for the company in a research note on Monday, August 1st. Finally, Barclays decreased their target price on shares of Procter & Gamble from $157.00 to $154.00 and set an “overweight” rating for the company in a research report on Tuesday, August 2nd. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Procter & Gamble currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.93.

Insider Buying and Selling

In other Procter & Gamble news, insider Mary Theresa Grabowski sold 10,397 shares of the business’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $146.00, for a total value of $1,517,962.00. Following the transaction, the insider now directly owns 4,353 shares in the company, valued at $635,538. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Procter & Gamble news, CEO Ma. Fatima Francisco sold 2,000 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $145.00, for a total value 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Mary Theresa Grabowski sold 10,397 shares of the business’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $146.00, for a total transaction of $1,517,962.00. Following the completion of the transaction, the insider now owns 4,353 shares in the company, valued at $635,538. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 289,321 shares of company stock worth $42,559,426. 0.26% of the stock is owned by insiders.

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.

Further Reading

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

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