Summit Global Investments Sells 1,761 Shares of The Procter & Gamble Company (NYSE:PG)

Summit Global Investments lessened its holdings in shares of The Procter & Gamble Company (NYSE:PG - Free Report) by 26.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,945 shares of the company's stock after selling 1,761 shares during the period. Summit Global Investments' holdings in Procter & Gamble were worth $829,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Swedbank AB grew its stake in Procter & Gamble by 3.9% in the third quarter. Swedbank AB now owns 1,503,647 shares of the company's stock worth $260,432,000 after purchasing an additional 56,583 shares during the period. Howard Capital Management Group LLC grew its position in shares of Procter & Gamble by 1.0% in the 3rd quarter. Howard Capital Management Group LLC now owns 8,327 shares of the company's stock worth $1,442,000 after buying an additional 82 shares during the period. Principal Financial Group Inc. increased its stake in shares of Procter & Gamble by 14.7% in the 3rd quarter. Principal Financial Group Inc. now owns 4,734,588 shares of the company's stock worth $820,031,000 after acquiring an additional 608,168 shares in the last quarter. United Bank lifted its position in Procter & Gamble by 1.7% during the 3rd quarter. United Bank now owns 13,367 shares of the company's stock valued at $2,315,000 after acquiring an additional 219 shares during the period. Finally, Certified Advisory Corp grew its holdings in Procter & Gamble by 33.0% in the third quarter. Certified Advisory Corp now owns 5,634 shares of the company's stock worth $976,000 after purchasing an additional 1,397 shares during the period. Institutional investors own 65.77% of the company's stock.

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Procter & Gamble Price Performance

Shares of NYSE PG traded down $2.74 during midday trading on Tuesday, reaching $162.91. 3,838,400 shares of the stock traded hands, compared to its average volume of 6,476,854. The company's 50 day moving average is $168.11 and its 200 day moving average is $169.58. The Procter & Gamble Company has a one year low of $153.52 and a one year high of $180.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55. The stock has a market capitalization of $382.00 billion, a PE ratio of 25.93, a P/E/G ratio of 3.76 and a beta of 0.41.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, topping analysts' consensus estimates of $1.86 by $0.02. The business had revenue of $21.88 billion during the quarter, compared to analysts' expectations of $21.66 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The business's revenue was up 2.1% on a year-over-year basis. During the same period last year, the company posted $1.84 EPS. On average, equities research analysts anticipate that The Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th were paid a $1.0065 dividend. This represents a $4.03 annualized dividend and a dividend yield of 2.47%. The ex-dividend date was Friday, January 24th. Procter & Gamble's payout ratio is 64.01%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PG. JPMorgan Chase & Co. dropped their price target 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. Piper Sandler dropped their target price on Procter & Gamble from $173.00 to $172.00 and set a "neutral" rating on the stock in a report on Monday, February 24th. UBS Group restated a "buy" rating on shares of Procter & Gamble in a research note on Monday, February 10th. 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, Wells Fargo & Company boosted their target price on Procter & Gamble from $176.00 to $180.00 and gave the stock an "overweight" rating in a research report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $181.47.

Insider Transactions at Procter & Gamble

In related news, 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 completion of the sale, the chief executive officer now directly owns 22,051 shares of the company's stock, valued at approximately $3,829,817.68. This trade represents a 61.35 % decrease in their position. The sale 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 value 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. The trade was a 34.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 143,450 shares of company stock worth $23,988,008. 0.18% of the stock is currently owned by company insiders.

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.