Covenant Asset Management LLC Has $455,000 Stock Holdings in The Procter & Gamble Company (NYSE:PG)

Covenant Asset Management LLC trimmed its stake in shares of The Procter & Gamble Company (NYSE:PG) by 15.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,716 shares of the company’s stock after selling 500 shares during the quarter. Covenant Asset Management LLC’s holdings in Procter & Gamble were worth $455,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of PG. AMF Tjanstepension AB boosted its stake in Procter & Gamble by 416.1% in the 3rd quarter. AMF Tjanstepension AB now owns 1,818,490 shares of the company’s stock worth $315,016,000 after purchasing an additional 1,466,115 shares during the period. Creative Planning raised its holdings in Procter & Gamble by 3.5% in the 3rd quarter. Creative Planning now owns 1,393,443 shares of the company’s stock valued at $241,344,000 after acquiring an additional 47,551 shares during the period. Swedbank AB raised its holdings in Procter & Gamble by 3.9% in the 3rd quarter. Swedbank AB now owns 1,503,647 shares of the company’s stock valued at $260,432,000 after acquiring an additional 56,583 shares during the period. Greenup Street Wealth Management LLC raised its holdings in Procter & Gamble by 5.4% in the 3rd quarter. Greenup Street Wealth Management LLC now owns 1,689 shares of the company’s stock valued at $293,000 after acquiring an additional 87 shares during the period. Finally, Bleakley Financial Group LLC raised its holdings in Procter & Gamble by 1.5% in the 3rd quarter. Bleakley Financial Group LLC now owns 83,816 shares of the company’s stock valued at $14,517,000 after acquiring an additional 1,218 shares during the period. Institutional investors own 65.77% of the company’s stock.

Procter & Gamble Stock Performance

Shares of PG stock opened at $162.84 on Friday. The Procter & Gamble Company has a one year low of $153.52 and a one year high of $180.43. The company’s 50-day moving average is $166.73 and its 200 day moving average is $169.45. The company has a market capitalization of $381.84 billion, a price-to-earnings ratio of 25.93, a price-to-earnings-growth ratio of 3.79 and a beta of 0.45. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76.

Procter & Gamble (NYSE:PG) last announced its quarterly 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. The firm had revenue of $21.88 billion for the quarter, compared to the consensus estimate of $21.66 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.84 EPS. Sell-side analysts expect that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 24th will be issued a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Friday, January 24th. Procter & Gamble’s payout ratio is 64.17%.

Insiders Place Their Bets

In related news, CEO Gary A. Coombe sold 47,847 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $179.84, for a total transaction of $8,604,804.48. Following the sale, the chief executive officer now owns 39,977 shares of the company’s stock, valued at $7,189,463.68. This represents a 54.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Marc S. Pritchard sold 90,450 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the transaction, the insider now owns 172,814 shares in the company, valued at $28,313,845.76. This trade represents a 34.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 151,097 shares of company stock worth $25,635,076. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Barclays raised their target price on shares of Procter & Gamble from $155.00 to $159.00 and gave the company an “equal weight” rating in a research report on Thursday, January 23rd. UBS Group dropped their price target on shares of Procter & Gamble from $196.00 to $189.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Evercore ISI lifted their target price on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Finally, Wells Fargo & Company lifted their target price on shares of Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note 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 stock. According to MarketBeat, Procter & Gamble has an average rating of “Moderate Buy” and an average price target of $180.53.

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.