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

Lord Abbett & CO. LLC decreased its position in shares of The Procter & Gamble Company (NYSE:PGFree Report) by 42.8% during the 3rd quarter, according to its most recent filing 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Procter & Gamble in the second quarter valued at approximately $28,000. Fairway Wealth LLC acquired a new position in shares of Procter & Gamble in the second quarter worth $29,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Procter & Gamble during the third quarter valued at $33,000. POM Investment Strategies LLC purchased a new stake in Procter & Gamble during the 2nd quarter worth about $34,000. Finally, Quest Partners LLC acquired a new position in Procter & Gamble in the 2nd quarter valued at about $36,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Insider Transactions at Procter & Gamble

In related news, insider Balaji Purushothaman sold 12,800 shares of Procter & Gamble stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $168.99, for a total value of $2,163,072.00. Following the sale, the insider now directly owns 11,566 shares in the company, valued at $1,954,538.34. This trade represents a 52.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gary A. Coombe sold 47,847 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 39,977 shares of the company’s stock, valued at approximately $7,189,463.68. This trade represents a 54.48 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 83,080 shares of company stock worth $14,629,038. 0.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PG has been the subject of a number of recent research reports. Evercore ISI lifted their price target on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Morgan Stanley upped their price target on shares of Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. DZ Bank upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a report on Thursday, August 29th. JPMorgan Chase & Co. boosted their price objective on shares of Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Finally, Piper Sandler began coverage on shares of Procter & Gamble in a report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price on the stock. Eight investment 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $180.45.

View Our Latest Stock Report on PG

Procter & Gamble Stock Performance

Shares of Procter & Gamble stock opened at $171.06 on Friday. The firm 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 Procter & Gamble Company has a 1 year low of $142.50 and a 1 year high of $180.43. The firm’s 50-day simple moving average is $170.74 and its 200-day simple moving average is $169.59. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75.

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

Procter & Gamble Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were issued a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Friday, October 18th. Procter & Gamble’s dividend payout ratio (DPR) is presently 69.48%.

Procter & Gamble Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding PG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Procter & Gamble Company (NYSE:PGFree Report).

Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

Receive News & Ratings for Procter & Gamble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Procter & Gamble and related companies with MarketBeat.com's FREE daily email newsletter.