Alliancebernstein L.P. Sells 10,110 Shares of The Procter & Gamble Company (NYSE:PG)

Alliancebernstein L.P. reduced its stake in The Procter & Gamble Company (NYSE:PG - Free Report) by 0.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,846,042 shares of the company's stock after selling 10,110 shares during the period. Alliancebernstein L.P. owned approximately 0.33% of Procter & Gamble worth $1,315,389,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. NewSquare Capital LLC increased its stake in Procter & Gamble by 933.3% during the 4th quarter. NewSquare Capital LLC now owns 155 shares of the company's stock worth $26,000 after buying an additional 140 shares during the period. LFA Lugano Financial Advisors SA acquired a new stake in Procter & Gamble during the 4th quarter valued at approximately $34,000. Atlantic Private Wealth LLC increased its position in shares of 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 purchasing an additional 101 shares during the last quarter. Prudent Man Investment Management Inc. acquired a new position in Procter & Gamble in the fourth quarter worth about $38,000. Finally, Noble Wealth Management PBC bought a new stake in Procter & Gamble in the fourth quarter valued at about $39,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Marc S. Pritchard sold 90,450 shares of the firm's stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the completion of the sale, the insider now owns 172,814 shares in the company, valued at approximately $28,313,845.76. This trade represents a 34.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gary A. Coombe sold 35,000 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the sale, the chief executive officer now owns 22,051 shares of the company's stock, valued at $3,829,817.68. This trade represents a 61.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 143,450 shares of company stock valued at $23,988,008 over the last three months. Insiders own 0.18% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PG shares. Barclays reiterated an "equal weight" rating on shares of Procter & Gamble in a report on Thursday, March 27th. Royal Bank of Canada restated a "sector perform" rating and set a $164.00 price target on shares of Procter & Gamble in a research report on Thursday, January 23rd. Piper Sandler decreased their target price on Procter & Gamble from $173.00 to $172.00 and set a "neutral" rating for the company in a research note on Monday, February 24th. JPMorgan Chase & Co. cut their target price on shares of Procter & Gamble from $186.00 to $181.00 and set an "overweight" rating on the stock in a research note on Thursday, January 16th. Finally, Wells Fargo & Company lifted their price target on Procter & Gamble from $176.00 to $180.00 and gave the company an "overweight" rating in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $182.00.

Procter & Gamble Trading Up 2.0 %

PG stock traded up $3.31 during midday trading on Thursday, hitting $172.81. 4,684,974 shares of the company's stock were exchanged, compared to its average volume of 6,901,504. The Procter & Gamble Company has a one year low of $153.52 and a one year high of $180.43. The stock's fifty day moving average price is $169.07 and its 200-day moving average price is $169.27. The company has a market cap of $405.21 billion, a PE ratio of 27.52, a price-to-earnings-growth 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 - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts' expectations of $21.66 billion. During the same period in the prior year, the business earned $1.84 EPS. Procter & Gamble's revenue for the quarter was up 2.1% compared to the same quarter last year. 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 24th were issued a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend was Friday, January 24th. Procter & Gamble's 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.