The Procter & Gamble Company (NYSE:PG) Position Trimmed by King Wealth Management Group

King Wealth Management Group lowered its stake in The Procter & Gamble Company (NYSE:PG) by 4.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,530 shares of the company’s stock after selling 871 shares during the period. King Wealth Management Group’s holdings in Procter & Gamble were worth $3,556,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. International Assets Investment Management LLC lifted its holdings in shares of Procter & Gamble by 19,030.8% during the third quarter. International Assets Investment Management LLC now owns 3,693,593 shares of the company’s stock valued at $639,730,000 after purchasing an additional 3,674,286 shares during the last quarter. Wulff Hansen & CO. increased its position in Procter & Gamble by 16,292.0% in the 2nd quarter. Wulff Hansen & CO. now owns 3,675,902 shares of the company’s stock worth $606,230,000 after purchasing an additional 3,653,477 shares during the last quarter. AMF Tjanstepension AB raised its position in Procter & Gamble by 416.1% during the third 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 in the last quarter. Swedbank AB acquired a new position in Procter & Gamble during the first quarter worth $233,788,000. Finally, Ilex Capital Partners UK LLP bought a new position in shares of Procter & Gamble in the first quarter valued at approximately $228,212,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Insider Activity

In related news, insider Balaji Purushothaman sold 12,800 shares of the 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 transaction, the insider now directly owns 11,566 shares of the company’s stock, valued at $1,954,538.34. This represents a 52.53 % 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 the SEC website. Also, CEO Ma. Fatima Francisco sold 96,000 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $170.00, for a total transaction of $16,320,000.00. Following the completion of the sale, the chief executive officer now owns 13,721 shares in the company, valued at $2,332,570. This represents a 87.49 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 313,597 shares of company stock worth $53,268,499. 0.18% of the stock is currently owned by company insiders.

Procter & Gamble Price Performance

Shares of PG opened at $167.08 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The stock has a market cap of $393.48 billion, a P/E ratio of 28.81, a price-to-earnings-growth ratio of 3.60 and a beta of 0.42. The stock’s 50-day moving average price is $170.61 and its two-hundred day moving average price is $168.28. The Procter & Gamble Company has a 1 year low of $142.50 and a 1 year high of $177.94.

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, topping the consensus estimate of $1.90 by $0.03. The business had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. Procter & Gamble’s revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.83 earnings per share. On average, equities analysts predict that The Procter & Gamble Company will post 6.94 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be given a $1.0065 dividend. The ex-dividend date is Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.41%. Procter & Gamble’s payout ratio is presently 69.48%.

Analysts Set New Price Targets

PG has been the subject of a number of research analyst reports. Dbs Bank lowered shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Jefferies Financial Group lowered Procter & Gamble from a “buy” rating to a “hold” rating and lowered their target price for the company from $182.00 to $175.00 in a report on Wednesday, July 24th. Piper Sandler assumed coverage on shares of Procter & Gamble in a research note on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price objective on the stock. Morgan Stanley upped their target price on shares of Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Finally, Hsbc Global Res upgraded shares of Procter & Gamble to a “strong-buy” rating in a report on Friday, October 4th. Nine equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $177.00.

About Procter & Gamble

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, SK-II, and Native brands.