The Procter & Gamble Company (NYSE:PG) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lowered its stake in shares of The Procter & Gamble Company (NYSE:PG) by 2.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,315,162 shares of the company’s stock after selling 39,599 shares during the quarter. Procter & Gamble makes up about 0.7% of Chevy Chase Trust Holdings LLC’s investment portfolio, making the stock its 21st largest holding. Chevy Chase Trust Holdings LLC’s holdings in Procter & Gamble were worth $227,786,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. FMR LLC grew its position in shares of Procter & Gamble by 2.7% during the third quarter. FMR LLC now owns 26,556,319 shares of the company’s stock worth $4,599,554,000 after buying an additional 689,282 shares in the last quarter. Legal & General Group Plc boosted its holdings in Procter & Gamble by 0.6% in the second quarter. Legal & General Group Plc now owns 21,632,054 shares of the company’s stock worth $3,567,556,000 after purchasing an additional 122,190 shares during the period. Fisher Asset Management LLC boosted its holdings in Procter & Gamble by 4.7% in the third quarter. Fisher Asset Management LLC now owns 18,380,610 shares of the company’s stock worth $3,183,522,000 after purchasing an additional 830,476 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Procter & Gamble by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 16,422,470 shares of the company’s stock worth $2,844,442,000 after purchasing an additional 105,734 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Procter & Gamble by 3.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 14,049,651 shares of the company’s stock worth $2,433,400,000 after purchasing an additional 426,409 shares during the period. Institutional investors and hedge funds own 65.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Piper Sandler assumed coverage on shares of Procter & Gamble in a report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price objective for the company. DA Davidson raised shares of Procter & Gamble from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $160.00 to $209.00 in a report on Monday, November 25th. Wells Fargo & Company lifted their price objective on shares of Procter & Gamble from $188.00 to $190.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. DZ Bank raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a report on Thursday, August 29th. Finally, Morgan Stanley raised their target price on Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Eight analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $180.45.

Insiders Place Their Bets

In other Procter & Gamble news, insider Balaji Purushothaman sold 12,800 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $168.99, for a total value of $2,163,072.00. Following the sale, the insider now directly owns 11,566 shares in the company, valued at approximately $1,954,538.34. The trade was a 52.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO R. Alexandra Keith sold 1,992 shares of Procter & Gamble stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $170.00, for a total value of $338,640.00. Following the completion of the transaction, the chief executive officer now directly owns 13,783 shares in the company, valued at $2,343,110. This represents a 12.63 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,233 shares of company stock worth $6,024,234. 0.18% of the stock is owned by corporate insiders.

Procter & Gamble Price Performance

Shares of NYSE PG opened at $179.65 on Monday. The Procter & Gamble Company has a fifty-two week low of $142.50 and a fifty-two week high of $180.43. The firm’s 50-day simple moving average is $170.48 and its 200 day simple moving average is $169.11. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50. The stock has a market cap of $423.08 billion, a P/E ratio of 30.91, a P/E/G ratio of 3.86 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Friday, October 18th. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.90 by $0.03. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The firm had revenue of $21.74 billion for the quarter, compared to analysts’ expectations of $21.99 billion. During the same period in the previous year, the business earned $1.83 earnings per share. Procter & Gamble’s revenue for the quarter was down .6% compared to the same quarter last year. Equities analysts expect that The Procter & Gamble Company will post 6.97 EPS for the current year.

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were given a $1.0065 dividend. This represents a $4.03 annualized dividend and a yield of 2.24%. The ex-dividend date was Friday, October 18th. Procter & Gamble’s dividend payout ratio (DPR) is presently 69.48%.

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.