Columbia Asset Management reduced its stake in shares of The Procter & Gamble Company (NYSE:PG - Free Report) by 5.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 43,679 shares of the company's stock after selling 2,556 shares during the quarter. Procter & Gamble accounts for approximately 1.3% of Columbia Asset Management's holdings, making the stock its 16th largest holding. Columbia Asset Management's holdings in Procter & Gamble were worth $7,323,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Procter & Gamble by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 229,794,073 shares of the company's stock worth $38,524,976,000 after acquiring an additional 1,592,061 shares during the last quarter. Geode Capital Management LLC grew its stake in Procter & Gamble by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 56,472,195 shares of the company's stock valued at $9,457,000,000 after purchasing an additional 1,267,419 shares in the last quarter. Norges Bank purchased a new stake in Procter & Gamble during the 4th quarter worth approximately $5,244,463,000. Franklin Resources Inc. raised its position in shares of Procter & Gamble by 6.4% in the 4th quarter. Franklin Resources Inc. now owns 20,197,996 shares of the company's stock valued at $3,386,194,000 after purchasing an additional 1,209,275 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of Procter & Gamble by 1.7% during 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 buying an additional 312,203 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company's stock.
Insider Buying and Selling
In other news, insider Marc S. Pritchard sold 90,450 shares of Procter & Gamble stock in a transaction that occurred on 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Gary A. Coombe sold 18,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were 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 of the company's stock, valued at approximately $3,785,274.66. This represents a 44.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 143,450 shares of company stock valued at $23,988,008 over the last quarter. Corporate insiders own 0.18% of the company's stock.
Analysts Set New Price Targets
PG has been the subject of a number of research analyst reports. Piper Sandler dropped 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 note on Monday, February 24th. Stifel Nicolaus upped their target price on shares of Procter & Gamble from $161.00 to $165.00 and gave the company a "hold" rating in a research note on Thursday, January 23rd. Wells Fargo & Company boosted their price objective on Procter & Gamble from $176.00 to $180.00 and gave the company an "overweight" rating in a report on Thursday, January 23rd. Barclays reaffirmed an "equal weight" rating on shares of Procter & Gamble in a report on Thursday, March 27th. Finally, DA Davidson reiterated a "buy" rating and issued a $209.00 price target on shares of Procter & Gamble in a report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $182.00.
Read Our Latest Stock Analysis on Procter & Gamble
Procter & Gamble Stock Performance
Procter & Gamble stock traded up $2.67 during mid-day trading on Thursday, hitting $172.17. 9,389,328 shares of the company's stock traded hands, compared to its average volume of 6,919,793. The Procter & Gamble Company has a one year low of $153.52 and a one year high of $180.43. The company has a market cap of $403.71 billion, a PE ratio of 27.42, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The firm has a 50 day moving average price of $169.07 and a 200 day moving average price of $169.27. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50.
Procter & Gamble (NYSE:PG - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $21.88 billion during 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%. The company's quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.84 earnings per share. On average, equities analysts forecast that The Procter & Gamble Company will post 6.91 EPS for the current year.
Procter & Gamble Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 24th were paid a dividend of $1.0065 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.34%. Procter & Gamble's dividend payout ratio is presently 64.01%.
About Procter & Gamble
(
Free Report)
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.
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