Graypoint LLC Lowers Stake in The Procter & Gamble Company (NYSE:PG)

Graypoint LLC cut its stake in The Procter & Gamble Company (NYSE:PG) by 2.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,943 shares of the company’s stock after selling 542 shares during the quarter. Graypoint LLC’s holdings in Procter & Gamble were worth $4,349,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Concurrent Investment Advisors LLC boosted its holdings in shares of Procter & Gamble by 4.5% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock valued at $16,300,000 after buying an additional 4,035 shares in the last quarter. Copley Financial Group Inc. purchased a new position in Procter & Gamble in the third quarter worth $668,000. Fortem Financial Group LLC acquired a new position in shares of Procter & Gamble during the fourth quarter worth $569,000. Synovus Financial Corp boosted its position in shares of Procter & Gamble by 3.4% in the 3rd quarter. Synovus Financial Corp now owns 185,134 shares of the company’s stock worth $32,065,000 after purchasing an additional 6,077 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in Procter & Gamble by 7.5% during the 4th quarter. Nordea Investment Management AB now owns 2,898,569 shares of the company’s stock worth $484,583,000 after buying an additional 201,695 shares during the last quarter. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Evercore ISI increased their price objective on shares of Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Royal Bank of Canada reissued a “sector perform” rating and set a $164.00 price objective on shares of Procter & Gamble in a report on Monday, October 21st. Hsbc Global Res raised Procter & Gamble to a “strong-buy” rating in a research report on Friday, October 4th. JPMorgan Chase & Co. lifted their target price on Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. Finally, Piper Sandler started coverage on shares of Procter & Gamble in a research report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Procter & Gamble currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.75.

Procter & Gamble Price Performance

PG stock traded down $3.37 during trading on Friday, hitting $158.73. The stock had a trading volume of 8,229,634 shares, compared to its average volume of 6,806,603. The Procter & Gamble Company has a twelve month low of $146.28 and a twelve month high of $180.43. The company’s 50-day moving average price is $169.77 and its two-hundred day moving average price is $169.64. 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 stock has a market capitalization of $373.82 billion, a P/E ratio of 27.37, a PEG ratio of 3.70 and a beta of 0.45.

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

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Balaji Purushothaman sold 12,800 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $172.73, for a total value of $2,210,944.00. Following the sale, the insider now directly owns 11,595 shares of the company’s stock, valued at $2,002,804.35. The trade was a 52.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,439 shares of company stock worth $13,317,460. 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.