Profit Investment Management LLC Reduces Stake in The Procter & Gamble Company (NYSE:PG)

Profit Investment Management LLC decreased its stake in shares of The Procter & Gamble Company (NYSE:PG) by 4.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,581 shares of the company’s stock after selling 236 shares during the period. Profit Investment Management LLC’s holdings in Procter & Gamble were worth $936,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new stake in shares of Procter & Gamble in the second quarter worth $28,000. RPg Family Wealth Advisory LLC bought a new stake in Procter & Gamble during the third quarter valued at approximately $33,000. Quest Partners LLC purchased a new stake in shares of Procter & Gamble in the 2nd quarter worth $36,000. Costello Asset Management INC increased its position in Procter & Gamble by 2,142.9% in the third quarter. Costello Asset Management INC now owns 314 shares of the company’s stock worth $54,000 after buying an additional 300 shares in the last quarter. Finally, William B. Walkup & Associates Inc. bought a new stake in Procter & Gamble during the 2nd quarter worth approximately $58,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, insider Balaji Purushothaman sold 12,800 shares of Procter & Gamble stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the sale, the insider now owns 11,566 shares of the company’s stock, valued at $1,954,538.34. The trade was a 52.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through 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 transaction of $8,604,804.48. Following the transaction, the chief executive officer now owns 39,977 shares in the company, valued at $7,189,463.68. The trade was a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 75,439 shares of company stock worth $13,317,460 in the last three months. Company insiders own 0.18% of the company’s stock.

Procter & Gamble Stock Up 0.5 %

Shares of PG stock opened at $161.35 on Friday. The stock’s fifty day moving average price is $169.32 and its 200 day moving average price is $169.39. The Procter & Gamble Company has a 1-year low of $146.28 and a 1-year high of $180.43. The company has a market cap of $379.98 billion, a price-to-earnings ratio of 27.82, a price-to-earnings-growth ratio of 3.41 and a beta of 0.45. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55.

Procter & Gamble (NYSE:PG) last released its earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The firm had revenue of $21.74 billion for the quarter, compared to the consensus estimate of $21.99 billion. During the same period in the prior year, the firm earned $1.83 EPS. The firm’s revenue was down .6% on a year-over-year basis. On average, research analysts expect that The Procter & Gamble Company will post 6.93 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 24th will be given a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Friday, January 24th. Procter & Gamble’s dividend payout ratio is currently 69.48%.

Analyst Ratings Changes

PG has been the topic of a number of recent analyst reports. Barclays decreased their price target on Procter & Gamble from $163.00 to $155.00 and set an “equal weight” rating on the stock in a report on Friday. Piper Sandler began coverage on shares of Procter & Gamble in a research note on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price target on the stock. Hsbc Global Res raised Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. Evercore ISI lifted 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. Finally, Wells Fargo & Company dropped their price objective on Procter & Gamble from $190.00 to $176.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Eight equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $179.65.

About Procter & Gamble

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.