ProVise Management Group LLC Sells 4,224 Shares of The Procter & Gamble Company (NYSE:PG)

ProVise Management Group LLC lowered its stake in The Procter & Gamble Company (NYSE:PG) by 53.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,719 shares of the company’s stock after selling 4,224 shares during the quarter. ProVise Management Group LLC’s holdings in Procter & Gamble were worth $623,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PG. Geode Capital Management LLC grew its position in Procter & Gamble by 7.0% in the 3rd quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock valued at $9,538,327,000 after purchasing an additional 3,619,466 shares during the period. FMR LLC grew its position in Procter & Gamble by 2.7% in the 3rd quarter. FMR LLC now owns 26,556,319 shares of the company’s stock valued at $4,599,554,000 after purchasing an additional 689,282 shares during the period. Franklin Resources Inc. grew its position in Procter & Gamble by 10.2% in the 3rd quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock valued at $3,290,573,000 after purchasing an additional 1,760,214 shares during the period. Fisher Asset Management LLC grew its position in Procter & Gamble by 1.7% in the 4th quarter. Fisher Asset Management LLC now owns 18,692,813 shares of the company’s stock valued at $3,133,850,000 after purchasing an additional 312,203 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Procter & Gamble by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 16,881,907 shares of the company’s stock valued at $2,830,252,000 after purchasing an additional 459,437 shares during the period. Institutional investors own 65.77% of the company’s stock.

Insider Activity at Procter & Gamble

In other news, CEO Gary A. Coombe sold 18,000 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $171.66, for a total transaction 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 represents a 44.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Marc S. Pritchard sold 90,450 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total value of $14,819,328.00. Following the sale, the insider now owns 172,814 shares in the company, valued at approximately $28,313,845.76. This represents a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 143,450 shares of company stock worth $23,988,008. Company insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

PG has been the subject of several research reports. JPMorgan Chase & Co. reduced their price target on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Piper Sandler reduced their price target on shares of Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a research report on Monday, February 24th. Barclays lifted their price objective on shares of Procter & Gamble from $155.00 to $159.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. UBS Group reaffirmed a “buy” rating on shares of Procter & Gamble in a report on Monday, February 10th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $164.00 price objective on shares of Procter & Gamble in a report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Procter & Gamble currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.47.

Procter & Gamble Trading Up 0.6 %

Shares of Procter & Gamble stock opened at $168.66 on Thursday. The Procter & Gamble Company has a 52-week low of $153.52 and a 52-week high of $180.43. The stock’s 50-day simple moving average is $167.71 and its 200 day simple moving average is $169.77. The stock has a market capitalization of $395.47 billion, a P/E ratio of 26.86, a P/E/G ratio of 3.76 and a beta of 0.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, beating 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 business had revenue of $21.88 billion for the quarter, compared to analysts’ expectations of $21.66 billion. During the same period in the previous year, the business posted $1.84 EPS. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, research analysts anticipate that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Dividend Announcement

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

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.