Mattern Wealth Management LLC Decreases Stock Holdings in The Procter & Gamble Company (NYSE:PG)

Mattern Wealth Management LLC trimmed its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 57.5% in the third quarter, HoldingsChannel.com reports. The fund owned 8,796 shares of the company’s stock after selling 11,909 shares during the period. Mattern Wealth Management LLC’s holdings in Procter & Gamble were worth $1,523,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Legal & General Group Plc grew its position in shares of Procter & Gamble by 0.6% in the second quarter. Legal & General Group Plc now owns 21,632,054 shares of the company’s stock valued at $3,567,556,000 after purchasing an additional 122,190 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Procter & Gamble by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 9,691,925 shares of the company’s stock valued at $1,598,510,000 after buying an additional 733,440 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Procter & Gamble by 9.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,161,507 shares of the company’s stock worth $999,705,000 after purchasing an additional 545,601 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Procter & Gamble by 1.3% during the first quarter. Janus Henderson Group PLC now owns 6,008,938 shares of the company’s stock worth $974,914,000 after purchasing an additional 79,665 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in Procter & Gamble by 3.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 5,706,199 shares of the company’s stock valued at $941,066,000 after purchasing an additional 216,300 shares during the period. 65.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PG has been the topic of a number of analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $164.00 price target on shares of Procter & Gamble in a research report on Monday. Citigroup upped their price objective on Procter & Gamble from $177.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. StockNews.com lowered 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 stock an “overweight” rating in a research note on Thursday, September 19th. Finally, TD Cowen began coverage on Procter & Gamble in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $177.00.

Insider Buying and Selling at Procter & Gamble

In related news, insider Balaji Purushothaman sold 8,842 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $164.90, for a total value of $1,458,045.80. Following the completion of the transaction, the insider now owns 11,537 shares in the company, valued at $1,902,451.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Susan Street Whaley sold 634 shares of the firm’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 sale, the insider now owns 19,341 shares in the company, valued at approximately $3,319,882.65. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Balaji Purushothaman sold 8,842 shares of Procter & Gamble stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the sale, the insider now owns 11,537 shares in the company, valued at $1,902,451.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 383,194 shares of company stock worth $65,140,718 in the last ninety days. 0.17% of the stock is owned by insiders.

Procter & Gamble Price Performance

Shares of PG stock traded up $0.62 on Tuesday, reaching $170.16. 2,972,967 shares of the company were exchanged, compared to its average volume of 6,668,871. The Procter & Gamble Company has a 1 year low of $142.50 and a 1 year high of $177.94. The company has a market cap of $401.60 billion, a price-to-earnings ratio of 27.76, a P/E/G ratio of 3.74 and a beta of 0.41. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.53 and a current ratio of 0.73. The business has a 50-day moving average price of $171.82 and a 200 day moving average price of $167.33.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Friday, October 18th. The company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. The company had revenue of $21.74 billion for the quarter, compared to the consensus estimate of $21.99 billion. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.83 EPS. Equities research analysts forecast that The Procter & Gamble Company will post 6.97 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be paid a $1.0065 dividend. The ex-dividend date is Friday, October 18th. This represents a $4.03 annualized dividend and a dividend yield of 2.37%. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.69%.

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.