Tower Wealth Partners Inc. Cuts Stake in The Procter & Gamble Company (NYSE:PG)

Tower Wealth Partners Inc. trimmed its holdings in The Procter & Gamble Company (NYSE:PG) by 2.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,477 shares of the company’s stock after selling 340 shares during the quarter. Procter & Gamble makes up approximately 1.0% of Tower Wealth Partners Inc.’s holdings, making the stock its 17th biggest position. Tower Wealth Partners Inc.’s holdings in Procter & Gamble were worth $1,924,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NewSquare Capital LLC raised its stake in Procter & Gamble by 933.3% during the fourth quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock valued at $26,000 after purchasing an additional 140 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of Procter & Gamble in the third quarter valued at $33,000. Noble Wealth Management PBC purchased a new stake in Procter & Gamble in the 4th quarter worth about $39,000. Bay Harbor Wealth Management LLC lifted its stake in shares of Procter & Gamble by 972.0% during the 4th quarter. Bay Harbor Wealth Management LLC now owns 268 shares of the company’s stock worth $45,000 after acquiring an additional 243 shares during the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new stake in shares of Procter & Gamble during the fourth quarter valued at $46,000. Institutional investors own 65.77% of the company’s stock.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, CEO Gary A. Coombe sold 35,000 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the completion of the transaction, the chief executive officer now directly owns 22,051 shares in the company, valued at approximately $3,829,817.68. This represents a 61.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Marc S. Pritchard sold 90,450 shares of the 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 directly owns 172,814 shares in the company, valued at approximately $28,313,845.76. The trade was a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 143,450 shares of company stock valued at $23,988,008. Corporate insiders own 0.18% of the company’s stock.

Procter & Gamble Price Performance

Shares of PG opened at $176.06 on Monday. The company has a market capitalization of $412.84 billion, a P/E ratio of 28.04, a P/E/G ratio of 3.76 and a beta of 0.41. The business’s 50-day moving average is $166.85 and its two-hundred day moving average is $169.77. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76. The Procter & Gamble Company has a fifty-two week low of $153.52 and a fifty-two week high of $180.43.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $21.66 billion. During the same period last year, the business earned $1.84 earnings per share. Procter & Gamble’s quarterly revenue was up 2.1% on a year-over-year basis. Research analysts predict that The Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 24th were given a dividend of $1.0065 per share. The ex-dividend date was Friday, January 24th. This represents a $4.03 annualized dividend and a yield of 2.29%. Procter & Gamble’s dividend payout ratio is presently 64.01%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wells Fargo & Company raised their price target on Procter & Gamble from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. 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. UBS Group reaffirmed a “buy” rating on shares of Procter & Gamble in a research report on Monday, February 10th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Seven 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, the company has an average rating of “Moderate Buy” and an average price target of $181.11.

About Procter & Gamble

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.