Summit Global Investments Sells 1,761 Shares of The Procter & Gamble Company (NYSE:PG)

Summit Global Investments decreased its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 26.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,945 shares of the company’s stock after selling 1,761 shares during the quarter. Summit Global Investments’ holdings in Procter & Gamble were worth $829,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PG. NewSquare Capital LLC lifted its position in shares of Procter & Gamble by 933.3% during the fourth quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock worth $26,000 after purchasing an additional 140 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in Procter & Gamble during the 3rd quarter valued at about $33,000. LFA Lugano Financial Advisors SA purchased a new stake in Procter & Gamble in the 4th quarter valued at about $34,000. Atlantic Private Wealth LLC grew its stake in Procter & Gamble by 95.3% in the 4th quarter. Atlantic Private Wealth LLC now owns 207 shares of the company’s stock worth $35,000 after acquiring an additional 101 shares in the last quarter. Finally, Noble Wealth Management PBC purchased a new position in shares of Procter & Gamble during the fourth quarter worth approximately $39,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Stifel Nicolaus increased their price objective on Procter & Gamble from $161.00 to $165.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. Wells Fargo & Company increased their price target on Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. decreased their price objective on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Erste Group Bank raised shares of Procter & Gamble from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Finally, Piper Sandler lowered 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. Seven analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.47.

Insider Buying and Selling at Procter & Gamble

In related news, CEO Gary A. Coombe sold 35,000 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the completion of the transaction, the chief executive officer now directly owns 22,051 shares in the company, valued at $3,829,817.68. The trade was a 61.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Marc S. Pritchard sold 90,450 shares of Procter & Gamble 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 owns 172,814 shares of the company’s stock, valued at $28,313,845.76. The trade was a 34.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 143,450 shares of company stock worth $23,988,008. 0.18% of the stock is currently owned by insiders.

Procter & Gamble Price Performance

Shares of NYSE PG opened at $166.60 on Monday. The Procter & Gamble Company has a fifty-two week low of $153.52 and a fifty-two week high of $180.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76. The company has a market cap of $390.66 billion, a PE ratio of 26.53, a P/E/G ratio of 3.76 and a beta of 0.41. The business has a 50-day simple moving average of $167.97 and a two-hundred day simple moving average of $169.65.

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

Procter & Gamble Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th were given a dividend of $1.0065 per share. The ex-dividend date was Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a yield of 2.42%. 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.