The Procter & Gamble Company (NYSE:PG) Shares Sold by Parnassus Investments LLC

Parnassus Investments LLC reduced its stake in The Procter & Gamble Company (NYSE:PG) by 7.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,499,460 shares of the company’s stock after selling 297,519 shares during the period. Parnassus Investments LLC’s holdings in Procter & Gamble were worth $586,684,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PG. NewSquare Capital LLC raised its stake in shares of Procter & Gamble by 933.3% in the fourth quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock valued at $26,000 after acquiring an additional 140 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in shares of Procter & Gamble in the third quarter valued at $33,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of Procter & Gamble in the fourth quarter valued at $34,000. Noble Wealth Management PBC acquired a new stake in shares of Procter & Gamble in the fourth quarter valued at $39,000. Finally, Bay Harbor Wealth Management LLC raised its stake in shares of Procter & Gamble by 972.0% in the fourth quarter. Bay Harbor Wealth Management LLC now owns 268 shares of the company’s stock valued at $45,000 after acquiring an additional 243 shares in the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Stifel Nicolaus increased their price objective on Procter & Gamble from $161.00 to $165.00 and gave the company a “hold” rating in a research note on Thursday, January 23rd. DA Davidson restated a “buy” rating and issued a $209.00 price target on shares of Procter & Gamble 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. Barclays raised their price target on Procter & Gamble from $155.00 to $159.00 and gave the company an “equal weight” rating in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. cut their price target on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $181.47.

Procter & Gamble Stock Up 0.1 %

PG opened at $168.50 on Friday. The business’s 50-day simple moving average is $167.21 and its 200-day simple moving average is $169.82. 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 Procter & Gamble Company has a one year low of $153.52 and a one year high of $180.43. The stock has a market capitalization of $395.10 billion, a P/E ratio of 26.83, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41.

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

Procter & Gamble Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 24th were issued a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Friday, January 24th. Procter & Gamble’s dividend payout ratio is currently 64.01%.

Insider Buying and Selling at Procter & Gamble

In other news, insider Marc S. Pritchard sold 90,450 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now owns 172,814 shares of the company’s stock, valued at $28,313,845.76. The trade was a 34.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gary A. Coombe sold 18,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $171.66, for a total value of $3,089,880.00. Following the sale, the chief executive officer now directly owns 22,051 shares in the company, valued at $3,785,274.66. This trade represents a 44.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 143,450 shares of company stock valued at $23,988,008. 0.18% of the stock is owned by corporate 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.