REDW Wealth LLC Lowers Stock Holdings in The Procter & Gamble Company (NYSE:PG)

REDW Wealth LLC lessened its holdings in shares of The Procter & Gamble Company (NYSE:PG - Free Report) by 52.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,190 shares of the company's stock after selling 2,427 shares during the period. REDW Wealth LLC's holdings in Procter & Gamble were worth $367,000 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. NewSquare Capital LLC increased its position in shares of 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 buying an additional 140 shares during the period. RPg Family Wealth Advisory LLC purchased a new position in shares of Procter & Gamble during the 3rd quarter worth approximately $33,000. Noble Wealth Management PBC bought a new position in shares of Procter & Gamble in the 4th quarter worth approximately $39,000. Bay Harbor Wealth Management LLC boosted its position in shares of Procter & Gamble by 972.0% during the fourth quarter. Bay Harbor Wealth Management LLC now owns 268 shares of the company's stock valued at $45,000 after purchasing an additional 243 shares in the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new stake in Procter & Gamble in the fourth quarter worth $46,000. Institutional investors own 65.77% of the company's stock.

Analyst Upgrades and Downgrades

PG has been the subject of several recent research reports. Barclays raised their price objective on Procter & Gamble from $155.00 to $159.00 and gave the company an "equal weight" rating in a research report on Thursday, January 23rd. Piper Sandler lowered 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 report on Monday, February 24th. JPMorgan Chase & Co. cut their price objective on shares of Procter & Gamble from $186.00 to $181.00 and set an "overweight" rating on the stock in a report on Thursday, January 16th. Royal Bank of Canada reiterated a "sector perform" rating and set a $164.00 target price on shares of Procter & Gamble in a report on Thursday, January 23rd. Finally, UBS Group restated a "buy" rating on shares of Procter & Gamble in a research note on Monday, February 10th. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $181.47.

Remove Ads

Procter & Gamble Stock Performance

PG traded down $4.26 during midday trading on Wednesday, hitting $168.86. 3,164,760 shares of the company traded hands, compared to its average volume of 6,390,574. The company's 50-day moving average is $167.14 and its 200 day moving average is $169.84. The Procter & Gamble Company has a 52 week low of $153.52 and a 52 week high of $180.43. The firm has a market capitalization of $395.94 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.02. The company had revenue of $21.88 billion for 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 firm's quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company posted $1.84 earnings per share. On average, research analysts expect that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 24th were given a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend was Friday, January 24th. Procter & Gamble's dividend payout ratio (DPR) is presently 64.01%.

Insiders Place Their Bets

In related news, CEO Gary A. Coombe sold 18,000 shares of the firm's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $171.66, for a total value of $3,089,880.00. Following the transaction, the chief executive officer now directly owns 22,051 shares of the company's stock, valued at approximately $3,785,274.66. This trade represents a 44.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Marc S. Pritchard sold 90,450 shares of the business's stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total value of $14,819,328.00. Following the sale, the insider now directly owns 172,814 shares of the company's stock, valued at $28,313,845.76. This represents a 34.36 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 143,450 shares of company stock valued at $23,988,008. Insiders own 0.18% of the company's stock.

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.