Redwood Wealth Management Group LLC Reduces Stock Position in The Procter & Gamble Company (NYSE:PG)

Redwood Wealth Management Group LLC lessened its stake in shares of The Procter & Gamble Company (NYSE:PG) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,750 shares of the company’s stock after selling 358 shares during the quarter. Redwood Wealth Management Group LLC’s holdings in Procter & Gamble were worth $1,298,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new stake in Procter & Gamble during the 3rd quarter worth about $33,000. Bay Harbor Wealth Management LLC grew its holdings in Procter & Gamble by 972.0% in the 4th quarter. Bay Harbor Wealth Management LLC now owns 268 shares of the company’s stock valued at $45,000 after buying an additional 243 shares during the period. New Wave Wealth Advisors LLC purchased a new stake in Procter & Gamble in the 4th quarter valued at about $46,000. Costello Asset Management INC grew its holdings in Procter & Gamble by 2,142.9% in the 3rd quarter. Costello Asset Management INC now owns 314 shares of the company’s stock valued at $54,000 after buying an additional 300 shares during the period. Finally, Mendota Financial Group LLC grew its holdings in Procter & Gamble by 58.0% in the 4th quarter. Mendota Financial Group LLC now owns 376 shares of the company’s stock valued at $63,000 after buying an additional 138 shares during the period. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. JPMorgan Chase & Co. lowered their price target on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Barclays lifted their price target on Procter & Gamble from $155.00 to $159.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Evercore ISI lifted their price target on Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a report on Monday, October 21st. 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, DA Davidson reiterated a “buy” rating and set a $209.00 target price on shares of Procter & Gamble in a report on Thursday, January 23rd. Eight investment 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. According to data from MarketBeat.com, Procter & Gamble has an average rating of “Moderate Buy” and an average target price of $180.53.

Procter & Gamble Stock Performance

Shares of PG opened at $168.16 on Wednesday. The business’s 50 day moving average is $168.17 and its two-hundred day moving average is $169.41. 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 cap of $394.32 billion, a price-to-earnings ratio of 26.78, a PEG ratio of 3.73 and a beta of 0.45. 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) last announced its earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.02. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The company had revenue of $21.88 billion for the quarter, compared to analyst estimates of $21.66 billion. During the same period in the prior year, the company posted $1.84 EPS. Procter & Gamble’s quarterly revenue was up 2.1% on a year-over-year basis. Analysts forecast that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th will be issued a $1.0065 dividend. The ex-dividend date is Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.39%. Procter & Gamble’s dividend payout ratio (DPR) is 64.17%.

Insider Activity

In other news, insider Marc S. Pritchard sold 90,450 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total value of $14,819,328.00. Following the completion of the sale, the insider now directly owns 172,814 shares in the company, valued at approximately $28,313,845.76. The trade was a 34.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Balaji Purushothaman sold 12,800 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 11,595 shares of the company’s stock, valued at approximately $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 ninety days, insiders sold 151,097 shares of company stock worth $25,635,076. 0.18% of the stock is currently owned by insiders.

Procter & Gamble Company 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.