Allegiance Financial Group Advisory Services LLC Cuts Stake in The Procter & Gamble Company (NYSE:PG)

Allegiance Financial Group Advisory Services LLC lowered its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,027 shares of the company’s stock after selling 187 shares during the quarter. Allegiance Financial Group Advisory Services LLC’s holdings in Procter & Gamble were worth $1,346,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. RPg Family Wealth Advisory LLC purchased a new position in Procter & Gamble during the 3rd quarter valued at approximately $33,000. Bay Harbor Wealth Management LLC grew its holdings in Procter & Gamble by 972.0% during the 4th quarter. Bay Harbor Wealth Management LLC now owns 268 shares of the company’s stock valued at $45,000 after buying an additional 243 shares in the last quarter. New Wave Wealth Advisors LLC purchased a new position in Procter & Gamble during the 4th quarter valued at approximately $46,000. Costello Asset Management INC grew its holdings in Procter & Gamble by 2,142.9% during the 3rd quarter. Costello Asset Management INC now owns 314 shares of the company’s stock valued at $54,000 after buying an additional 300 shares in the last quarter. Finally, DecisionPoint Financial LLC lifted its stake in shares of Procter & Gamble by 46.7% in the 4th quarter. DecisionPoint Financial LLC now owns 330 shares of the company’s stock valued at $55,000 after purchasing an additional 105 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Insider Transactions at Procter & Gamble

In related 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 transaction, the chief executive officer now directly owns 22,051 shares of the company’s stock, valued at $3,785,274.66. This represents a 44.94 % decrease in their position. 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 transaction, the insider now directly owns 172,814 shares in the company, valued at $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. Corporate insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on PG. Wells Fargo & Company raised their price objective on Procter & Gamble from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. DA Davidson reaffirmed a “buy” rating and issued a $209.00 price objective on shares of Procter & Gamble in a research note on Thursday, January 23rd. Piper Sandler lowered their price objective on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a research note on Monday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $164.00 price objective on shares of Procter & Gamble in a research note on Thursday, January 23rd. Finally, Barclays raised their price objective 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. Eight investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Procter & Gamble has a consensus rating of “Moderate Buy” and a consensus target price of $180.42.

Procter & Gamble Trading Down 0.7 %

Shares of NYSE:PG opened at $171.36 on Thursday. The company has a market capitalization of $401.81 billion, a PE ratio of 27.29, a P/E/G ratio of 3.76 and a beta of 0.45. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a 12-month low of $153.52 and a 12-month high of $180.43. The business’s fifty day simple moving average is $166.11 and its 200-day simple moving average is $169.47.

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

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th were given a $1.0065 dividend. This represents a $4.03 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Friday, January 24th. Procter & Gamble’s payout ratio is 64.01%.

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.