Ridgecrest Wealth Partners LLC Cuts Stock Position in The Procter & Gamble Company (NYSE:PG)

Ridgecrest Wealth Partners LLC lessened its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 3.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 31,392 shares of the company’s stock after selling 1,210 shares during the quarter. Procter & Gamble accounts for about 2.9% of Ridgecrest Wealth Partners LLC’s portfolio, making the stock its 10th largest position. Ridgecrest Wealth Partners LLC’s holdings in Procter & Gamble were worth $5,263,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. RPg Family Wealth Advisory LLC bought a new position in Procter & Gamble in the third quarter worth approximately $33,000. Costello Asset Management INC lifted its position in shares of Procter & Gamble by 2,142.9% in the 3rd quarter. Costello Asset Management INC now owns 314 shares of the company’s stock worth $54,000 after purchasing an additional 300 shares during the period. Mendota Financial Group LLC boosted its stake in shares of Procter & Gamble by 58.0% during the fourth quarter. Mendota Financial Group LLC now owns 376 shares of the company’s stock valued at $63,000 after purchasing an additional 138 shares in the last quarter. Itau Unibanco Holding S.A. raised its stake in Procter & Gamble by 138.7% in the third quarter. Itau Unibanco Holding S.A. now owns 401 shares of the company’s stock worth $69,000 after buying an additional 233 shares in the last quarter. Finally, Hara Capital LLC purchased a new stake in Procter & Gamble during the third quarter worth $70,000. Institutional investors own 65.77% of the company’s stock.

Procter & Gamble Price Performance

NYSE:PG opened at $166.35 on Wednesday. The firm’s fifty day moving average is $168.83 and its two-hundred day moving average is $169.42. The firm has a market cap of $390.07 billion, a price-to-earnings ratio of 26.49, a PEG ratio of 3.69 and a beta of 0.45. The company has a debt-to-equity ratio of 0.49, 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.

Procter & Gamble (NYSE:PG) last issued its earnings results on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. Procter & Gamble had a return on equity of 32.88% and a net margin of 18.35%. The firm had revenue of $21.88 billion for the quarter, compared to the consensus estimate of $21.66 billion. During the same quarter in the prior year, the business earned $1.84 earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. Research analysts expect that The Procter & Gamble Company will post 6.94 EPS for the current year.

Procter & Gamble Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 24th will be paid a $1.0065 dividend. This represents a $4.03 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Friday, January 24th. Procter & Gamble’s dividend payout ratio is currently 64.01%.

Insider Buying and Selling

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 value of $14,819,328.00. Following the completion of the sale, the insider now directly owns 172,814 shares in the company, valued at $28,313,845.76. The trade was a 34.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Balaji Purushothaman sold 12,800 shares of Procter & Gamble stock in a transaction on Thursday, November 21st. The shares were 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 represents a 52.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 151,097 shares of company stock valued at $25,635,076. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Evercore ISI lifted their price target on Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Hsbc Global Res raised shares of Procter & Gamble to a “strong-buy” rating in a research report on Friday, October 4th. DA Davidson reaffirmed a “buy” rating and issued a $209.00 price objective on shares of Procter & Gamble in a research report on Thursday, January 23rd. Royal Bank of Canada reissued a “sector perform” rating and set a $164.00 target price on shares of Procter & Gamble in a research report on Thursday, January 23rd. Finally, UBS Group cut their price target on shares of Procter & Gamble from $196.00 to $189.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $180.53.

Procter & Gamble Company 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.