Martingale Asset Management L P Cuts Stock Holdings in The Procter & Gamble Company (NYSE:PG)

Martingale Asset Management L P reduced its stake in The Procter & Gamble Company (NYSE:PG - Free Report) by 11.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 230,826 shares of the company's stock after selling 30,656 shares during the period. Procter & Gamble makes up 0.9% of Martingale Asset Management L P's portfolio, making the stock its 18th largest holding. Martingale Asset Management L P's holdings in Procter & Gamble were worth $38,698,000 as of its most recent filing with the SEC.

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

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Insider Transactions at Procter & Gamble

In other Procter & Gamble news, insider Marc S. Pritchard sold 90,450 shares of the business's stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total value of $14,819,328.00. Following the completion of the transaction, the insider now directly owns 172,814 shares of the company's stock, valued at approximately $28,313,845.76. The trade was a 34.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gary A. Coombe sold 18,000 shares of the business's stock in a transaction 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 completion of the transaction, the chief executive officer now 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. Over the last ninety days, insiders sold 143,450 shares of company stock worth $23,988,008. Company insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PG shares. Stifel Nicolaus boosted their target price on Procter & Gamble from $161.00 to $165.00 and gave the company a "hold" rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. reduced their target price on shares of Procter & Gamble from $181.00 to $172.00 and set an "overweight" rating on the stock in a research note on Friday. 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. DA Davidson reiterated a "buy" rating and set a $209.00 price target on shares of Procter & Gamble in a report on Thursday, January 23rd. Finally, Barclays reissued an "equal weight" rating on shares of Procter & Gamble in a research note on Thursday, March 27th. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $181.50.

Procter & Gamble Stock Up 2.1 %

PG stock traded up $3.40 during trading on Friday, reaching $166.96. 8,602,709 shares of the company traded hands, compared to its average volume of 7,039,862. The Procter & Gamble Company has a 12 month low of $153.52 and a 12 month high of $180.43. The company has a market capitalization of $391.50 billion, a price-to-earnings ratio of 26.59, a price-to-earnings-growth ratio of 3.76 and a beta of 0.43. 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 business has a 50 day simple moving average of $168.35 and a 200 day simple moving average of $168.59.

Procter & Gamble (NYSE:PG - Get Free Report) last announced 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 firm had revenue of $21.88 billion for the quarter, compared to the consensus estimate of $21.66 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.84 EPS. On average, equities research analysts anticipate that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, April 21st will be issued a $1.0568 dividend. The ex-dividend date is Monday, April 21st. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.53%. This is a boost from Procter & Gamble's previous quarterly dividend of $1.01. Procter & Gamble's dividend payout ratio (DPR) is currently 67.20%.

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.