Mattern Wealth Management LLC Sells 611 Shares of The Procter & Gamble Company (NYSE:PG)

Mattern Wealth Management LLC lowered its position in shares of The Procter & Gamble Company (NYSE:PG) by 6.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,185 shares of the company’s stock after selling 611 shares during the period. Mattern Wealth Management LLC’s holdings in Procter & Gamble were worth $1,372,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC raised its position in Procter & Gamble by 19,030.8% in the 3rd quarter. International Assets Investment Management LLC now owns 3,693,593 shares of the company’s stock worth $639,730,000 after purchasing an additional 3,674,286 shares during the period. Geode Capital Management LLC grew its stake in shares of Procter & Gamble by 7.0% during the third quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock valued at $9,538,327,000 after buying an additional 3,619,466 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Procter & Gamble by 10.2% in the third quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock worth $3,290,573,000 after buying an additional 1,760,214 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Procter & Gamble in the 3rd quarter valued at about $301,950,000. Finally, AMF Tjanstepension AB boosted its holdings in Procter & Gamble by 416.1% during 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 period. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Balaji Purushothaman sold 12,800 shares of the company’s 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 transaction, the insider now owns 11,595 shares in the company, valued at approximately $2,002,804.35. This 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 can be accessed through this hyperlink. Also, CEO Gary A. Coombe sold 47,847 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 39,977 shares in the company, valued at approximately $7,189,463.68. The trade was a 54.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 151,097 shares of company stock worth $25,635,076 in the last three months. Company insiders own 0.18% of the company’s stock.

Procter & Gamble Stock Performance

Shares of Procter & Gamble stock opened at $166.34 on Thursday. The stock has a market cap of $391.74 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 current ratio of 0.76 and a quick ratio of 0.55. The Procter & Gamble Company has a 1 year low of $153.52 and a 1 year high of $180.43. The firm’s 50-day moving average is $168.74 and its 200 day moving average is $169.41.

Procter & Gamble (NYSE:PG) last posted its quarterly 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 32.88%. The firm had revenue of $21.88 billion for the quarter, compared to analysts’ expectations of $21.66 billion. During the same quarter in the prior year, the company posted $1.84 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. Sell-side analysts anticipate that The Procter & Gamble Company will post 6.94 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th will be paid a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Friday, January 24th. Procter & Gamble’s payout ratio is 64.17%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PG. Royal Bank of Canada reiterated a “sector perform” rating and issued a $164.00 price objective on shares of Procter & Gamble in a research report on Thursday, January 23rd. Hsbc Global Res raised shares of Procter & Gamble to a “strong-buy” rating in a research report on Friday, October 4th. DA Davidson restated a “buy” rating and issued a $209.00 price objective on shares of Procter & Gamble in a research report on Thursday, January 23rd. Evercore ISI raised their target price on Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Finally, Barclays upped their price target on Procter & Gamble from $155.00 to $159.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Procter & Gamble currently has an average rating of “Moderate Buy” and a consensus target price of $180.53.

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.