Jennison Associates LLC Sells 233,271 Shares of The Procter & Gamble Company (NYSE:PG)

Jennison Associates LLC trimmed its holdings in The Procter & Gamble Company (NYSE:PG - Free Report) by 27.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 607,879 shares of the company's stock after selling 233,271 shares during the period. Jennison Associates LLC's holdings in Procter & Gamble were worth $105,285,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Itau Unibanco Holding S.A. bought a new stake in Procter & Gamble during the second quarter worth $28,000. Fairway Wealth LLC bought a new stake in shares of Procter & Gamble during the 2nd quarter worth $29,000. POM Investment Strategies LLC acquired a new stake in Procter & Gamble in the second quarter valued at about $34,000. Quest Partners LLC bought a new position in Procter & Gamble in the second quarter valued at about $36,000. Finally, Fairfield Financial Advisors LTD acquired a new position in Procter & Gamble during the second quarter worth about $44,000. 65.77% of the stock is currently owned by institutional investors.

Procter & Gamble Stock Performance

Shares of Procter & Gamble stock opened at $171.31 on Thursday. The company has a market cap of $403.44 billion, a P/E ratio of 29.47, a PEG ratio of 3.69 and a beta of 0.42. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The business has a 50-day moving average price of $170.01 and a two-hundred day moving average price of $168.51. The Procter & Gamble Company has a 1-year low of $142.50 and a 1-year high of $177.94.

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

Procter & Gamble Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were issued a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend was Friday, October 18th. Procter & Gamble's payout ratio is 69.48%.

Insider Activity

In related news, insider Susan Street Whaley sold 634 shares of the company's stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $108,826.10. Following the sale, the insider now owns 19,341 shares in the company, valued at $3,319,882.65. This represents a 3.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jon R. Moeller sold 87,979 shares of the firm's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $170.40, for a total transaction of $14,991,621.60. Following the completion of the transaction, the chief executive officer now directly owns 300,777 shares in the company, valued at approximately $51,252,400.80. The trade was a 22.63 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 174,727 shares of company stock worth $29,694,037. Company insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PG shares. Barclays downgraded shares of Procter & Gamble from an "overweight" rating to an "equal weight" rating and set a $163.00 price target on the stock. in a research note on Monday, September 30th. StockNews.com cut shares of Procter & Gamble from a "buy" rating to a "hold" rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. increased their price target on Procter & Gamble from $179.00 to $186.00 and gave the company an "overweight" rating in a research note on Thursday, September 19th. Piper Sandler began coverage on Procter & Gamble in a research report on Tuesday, September 24th. They set a "neutral" rating and a $174.00 price objective on the stock. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $164.00 price target on shares of Procter & Gamble in a research note on Monday, October 21st. Nine analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Procter & Gamble currently has an average rating of "Moderate Buy" and a consensus target price of $177.00.

Procter & Gamble Company 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.