The Procter & Gamble Company (NYSE:PG) Shares Sold by abrdn plc

abrdn plc cut its stake in shares of The Procter & Gamble Company (NYSE:PG) by 6.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,787,737 shares of the company’s stock after selling 196,634 shares during the period. Procter & Gamble accounts for about 0.9% of abrdn plc’s portfolio, making the stock its 15th largest position. abrdn plc’s holdings in Procter & Gamble were worth $464,730,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. AMF Tjanstepension AB grew its stake in Procter & Gamble by 416.1% in the 3rd quarter. AMF Tjanstepension AB now owns 1,818,490 shares of the company’s stock valued at $315,016,000 after acquiring an additional 1,466,115 shares during the last quarter. Czech National Bank grew its position in shares of Procter & Gamble by 6.6% in the third quarter. Czech National Bank now owns 479,545 shares of the company’s stock valued at $83,057,000 after purchasing an additional 29,799 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of Procter & Gamble by 10.0% during the 3rd quarter. Versant Capital Management Inc now owns 2,720 shares of the company’s stock worth $471,000 after purchasing an additional 247 shares in the last quarter. Chapin Davis Inc. raised its position in shares of Procter & Gamble by 10.1% during the 3rd quarter. Chapin Davis Inc. now owns 16,100 shares of the company’s stock worth $2,788,000 after purchasing an additional 1,479 shares during the last quarter. Finally, Eastover Investment Advisors LLC lifted its stake in Procter & Gamble by 3.9% in the 3rd quarter. Eastover Investment Advisors LLC now owns 44,226 shares of the company’s stock valued at $7,660,000 after buying an additional 1,654 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PG shares. Morgan Stanley raised their price target on Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. cut their target price on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Evercore ISI raised their price target on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Wells Fargo & Company boosted their price objective on shares of Procter & Gamble from $176.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Finally, DA Davidson reaffirmed a “buy” rating and issued a $209.00 target price on shares of Procter & Gamble in a research note on Thursday, January 23rd. Eight equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $180.53.

Procter & Gamble Stock Down 0.4 %

Shares of NYSE:PG opened at $168.16 on Wednesday. The Procter & Gamble Company has a 1 year low of $153.52 and a 1 year high of $180.43. The stock has a 50-day simple moving average of $168.17 and a 200-day simple moving average of $169.41. 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 stock has a market capitalization of $394.32 billion, a P/E ratio of 26.78, a PEG ratio of 3.73 and a beta of 0.45.

Procter & Gamble (NYSE:PG) last issued its earnings results on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.02. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The business had revenue of $21.88 billion for the quarter, compared to the consensus estimate of $21.66 billion. During the same quarter last year, the firm posted $1.84 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts forecast that The Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th will be paid a $1.0065 dividend. The ex-dividend date of this dividend is Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.39%. Procter & Gamble’s dividend payout ratio (DPR) is currently 64.17%.

Insider Activity at Procter & Gamble

In other news, insider Balaji Purushothaman sold 12,800 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $172.73, for a total transaction of $2,210,944.00. Following the completion of the sale, the insider now directly owns 11,595 shares in the company, valued at $2,002,804.35. This trade represents a 52.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gary A. Coombe sold 47,847 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $179.84, for a total value of $8,604,804.48. Following the completion of the transaction, the chief executive officer now owns 39,977 shares in the company, valued at approximately $7,189,463.68. This trade represents a 54.48 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 151,097 shares of company stock worth $25,635,076. 0.18% of the stock is currently owned by company insiders.

Procter & Gamble Profile

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.