Magellan Asset Management Ltd Lowers Holdings in The Procter & Gamble Company (NYSE:PG)

Magellan Asset Management Ltd decreased its holdings in The Procter & Gamble Company (NYSE:PG - Free Report) by 20.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,050 shares of the company's stock after selling 4,491 shares during the period. Magellan Asset Management Ltd's holdings in Procter & Gamble were worth $2,858,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NewSquare Capital LLC raised its holdings in Procter & Gamble by 933.3% during the 4th quarter. NewSquare Capital LLC now owns 155 shares of the company's stock valued at $26,000 after buying an additional 140 shares during the last quarter. Hoey Investments Inc. boosted its holdings in shares of Procter & Gamble by 321.7% during the fourth quarter. Hoey Investments Inc. now owns 194 shares of the company's stock worth $33,000 after purchasing an additional 148 shares during the period. LFA Lugano Financial Advisors SA bought a new stake in shares of Procter & Gamble in the fourth quarter worth about $34,000. Atlantic Private Wealth LLC increased its holdings in Procter & Gamble by 95.3% during the 4th quarter. Atlantic Private Wealth LLC now owns 207 shares of the company's stock valued at $35,000 after purchasing an additional 101 shares during the period. Finally, Prudent Man Investment Management Inc. purchased a new position in Procter & Gamble during the 4th quarter valued at about $38,000. Institutional investors own 65.77% of the company's stock.

Insider Activity

In other Procter & Gamble news, CEO Gary A. Coombe sold 18,000 shares of the firm's 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 owns 22,051 shares in the company, valued at approximately $3,785,274.66. This trade represents a 44.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Marc S. Pritchard sold 90,450 shares of the stock in a transaction on Thursday, January 23rd. The stock was 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 directly owns 172,814 shares of the company's stock, valued at approximately $28,313,845.76. This trade represents a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 143,450 shares of company stock valued at $23,988,008 in the last quarter. 0.18% of the stock is currently owned by insiders.

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Procter & Gamble Stock Performance

Shares of NYSE:PG traded up $2.67 during midday trading on Thursday, reaching $172.17. 9,389,328 shares of the company's stock traded hands, compared to its average volume of 6,909,108. The Procter & Gamble Company has a one year low of $153.52 and a one year high of $180.43. The stock has a 50 day moving average of $169.19 and a 200 day moving average of $169.29. The company has a market cap of $403.71 billion, a price-to-earnings ratio of 27.42, a P/E/G 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 released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.02. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The firm had revenue of $21.88 billion during the quarter, compared to analysts' expectations of $21.66 billion. During the same period in the previous year, the company earned $1.84 earnings per share. The firm's quarterly revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts anticipate 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 paid 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 dividend yield of 2.34%. Procter & Gamble's dividend payout ratio is currently 64.01%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PG. JPMorgan Chase & Co. cut their price objective on Procter & Gamble from $186.00 to $181.00 and set an "overweight" rating on the stock in a research report on Thursday, January 16th. Erste Group Bank upgraded shares of Procter & Gamble from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $164.00 target price on shares of Procter & Gamble in a research note on Thursday, January 23rd. Piper Sandler reduced their price target on shares of Procter & Gamble from $173.00 to $172.00 and set a "neutral" rating on the stock in a research report on Monday, February 24th. Finally, Truist Financial raised their price objective on shares of Procter & Gamble from $180.00 to $185.00 and gave the stock a "buy" rating in a report on Thursday. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, Procter & Gamble has an average rating of "Moderate Buy" and an average price target of $182.00.

About Procter & Gamble

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.