Lord Abbett & CO. LLC Reduces Stock Position in The Procter & Gamble Company (NYSE:PG)

Lord Abbett & CO. LLC lessened its position in The Procter & Gamble Company (NYSE:PG - Free Report) by 42.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 211,406 shares of the company's stock after selling 158,415 shares during the quarter. Lord Abbett & CO. LLC's holdings in Procter & Gamble were worth $36,616,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in Procter & Gamble by 7.0% in the 3rd quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company's stock valued at $9,538,327,000 after purchasing an additional 3,619,466 shares during the last quarter. FMR LLC lifted its holdings in Procter & Gamble by 2.7% in the third quarter. FMR LLC now owns 26,556,319 shares of the company's stock valued at $4,599,554,000 after acquiring an additional 689,282 shares during the last quarter. Legal & General Group Plc grew its position in Procter & Gamble by 0.6% in the second quarter. Legal & General Group Plc now owns 21,632,054 shares of the company's stock worth $3,567,556,000 after acquiring an additional 122,190 shares during the period. Franklin Resources Inc. increased its stake in Procter & Gamble by 10.2% during the third quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company's stock worth $3,290,573,000 after acquiring an additional 1,760,214 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in Procter & Gamble by 4.7% in the third quarter. Fisher Asset Management LLC now owns 18,380,610 shares of the company's stock valued at $3,183,522,000 after purchasing an additional 830,476 shares during the period. 65.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. DZ Bank raised Procter & Gamble from a "hold" rating to a "buy" rating and set a $190.00 price objective for the company in a research report on Thursday, August 29th. Piper Sandler initiated coverage on shares of Procter & Gamble in a research note on Tuesday, September 24th. They issued a "neutral" rating and a $174.00 price target on the stock. Wolfe Research raised shares of Procter & Gamble to a "strong-buy" rating in a research report on Friday, August 23rd. DA Davidson raised Procter & Gamble from a "neutral" rating to a "buy" rating and boosted their target price for the company from $160.00 to $209.00 in a research report on Monday, November 25th. Finally, Barclays lowered Procter & Gamble from an "overweight" rating to an "equal weight" rating and set a $163.00 price target for the company. in a research report on Monday, September 30th. Eight equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $180.45.

Procter & Gamble Stock Up 0.1 %

Shares of PG traded up $0.21 during mid-day trading on Friday, reaching $171.06. The company's stock had a trading volume of 3,884,513 shares, compared to its average volume of 6,686,880. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55. The Procter & Gamble Company has a 12-month low of $142.50 and a 12-month high of $180.43. The stock has a market cap of $402.85 billion, a PE ratio of 29.49, a price-to-earnings-growth ratio of 3.69 and a beta of 0.44. The company's 50 day moving average is $170.74 and its 200 day moving average is $169.59.

Procter & Gamble (NYSE:PG - Get Free Report) last announced its quarterly earnings results on Friday, October 18th. The company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.90 by $0.03. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The company had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.99 billion. During the same period in the prior year, the firm posted $1.83 earnings per share. The firm's revenue was down .6% on a year-over-year basis. Equities analysts anticipate that The Procter & Gamble Company will post 6.94 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were given a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a yield of 2.35%. The ex-dividend date was Friday, October 18th. Procter & Gamble's payout ratio is currently 69.48%.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, insider Susan Street Whaley sold 634 shares of the business's stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $108,826.10. Following the transaction, the insider now directly owns 19,341 shares of the company's stock, valued at approximately $3,319,882.65. The trade was a 3.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gary A. Coombe sold 47,847 shares of the firm's stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $179.84, for a total transaction of $8,604,804.48. Following the completion of the sale, the chief executive officer now owns 39,977 shares of the company's stock, valued at $7,189,463.68. This trade represents a 54.48 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 83,080 shares of company stock worth $14,629,038. 0.18% of the stock is owned by company insiders.

Procter & Gamble Profile

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, SK-II, and Native brands.