Christensen King & Associates Investment Services Inc. Sells 129 Shares of The Procter & Gamble Company (NYSE:PG)

Christensen King & Associates Investment Services Inc. trimmed its position in shares of The Procter & Gamble Company (NYSE:PG) by 9.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,273 shares of the company’s stock after selling 129 shares during the period. Christensen King & Associates Investment Services Inc.’s holdings in Procter & Gamble were worth $220,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new position in shares of Procter & Gamble during the second quarter valued at about $28,000. Fairway Wealth LLC purchased a new position in shares of Procter & Gamble during the second quarter valued at about $29,000. Ruedi Wealth Management Inc. increased its position in shares of Procter & Gamble by 64.7% during the first quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock valued at $32,000 after buying an additional 77 shares during the period. POM Investment Strategies LLC purchased a new position in shares of Procter & Gamble during the second quarter valued at about $34,000. Finally, Quest Partners LLC purchased a new stake in Procter & Gamble in the second quarter worth about $36,000. 65.77% of the stock is owned by institutional investors.

Procter & Gamble Stock Performance

Procter & Gamble stock traded up $0.55 during midday trading on Tuesday, reaching $170.09. 3,739,393 shares of the company traded hands, compared to its average volume of 6,672,627. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.53. The Procter & Gamble Company has a 12 month low of $142.50 and a 12 month high of $177.94. The firm has a market capitalization of $401.44 billion, a price-to-earnings ratio of 27.76, a price-to-earnings-growth ratio of 3.74 and a beta of 0.41. The business has a 50 day moving average of $171.82 and a two-hundred day moving average of $167.33.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.03. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The business had revenue of $21.74 billion for the quarter, compared to the consensus estimate of $21.99 billion. During the same period last year, the firm earned $1.83 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. As a group, research analysts predict that The Procter & Gamble Company will post 6.97 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a $1.0065 dividend. The ex-dividend date is Friday, October 18th. This represents a $4.03 annualized dividend and a yield of 2.37%. Procter & Gamble’s payout ratio is presently 65.69%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PG shares. Morgan Stanley upped their price objective on shares of Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday. Barclays cut shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price objective on the stock. in a report on Monday, September 30th. DZ Bank upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective on the stock in a report on Thursday, August 29th. Wolfe Research upgraded shares of Procter & Gamble to a “strong-buy” rating in a report on Friday, August 23rd. Finally, Piper Sandler started coverage on shares of Procter & Gamble in a report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price objective on the stock. Nine 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $177.00.

Insiders Place Their Bets

In other Procter & Gamble news, insider Susan Street Whaley sold 634 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $108,826.10. Following the transaction, the insider now directly owns 19,341 shares in the company, valued at approximately $3,319,882.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO R. Alexandra Keith sold 3,373 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $170.00, for a total value of $573,410.00. Following the completion of the sale, the chief executive officer now directly owns 21,513 shares of the company’s stock, valued at $3,657,210. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Susan Street Whaley sold 634 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total transaction of $108,826.10. Following the completion of the sale, the insider now directly owns 19,341 shares of the company’s stock, valued at approximately $3,319,882.65. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 383,194 shares of company stock worth $65,140,718. Company insiders own 0.17% of the company’s stock.

Procter & Gamble Company Profile

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.