Portside Wealth Group LLC Sells 113 Shares of The Procter & Gamble Company (NYSE:PG)

Portside Wealth Group LLC trimmed its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,877 shares of the company’s stock after selling 113 shares during the quarter. Portside Wealth Group LLC’s holdings in Procter & Gamble were worth $2,057,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Concurrent Investment Advisors LLC increased its position in shares of Procter & Gamble by 4.5% in the third quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock worth $16,300,000 after purchasing an additional 4,035 shares during the period. Copley Financial Group Inc. bought a new position in Procter & Gamble in the 3rd quarter valued at about $668,000. Fortem Financial Group LLC acquired a new position in shares of Procter & Gamble in the 4th quarter valued at approximately $569,000. Synovus Financial Corp lifted its holdings in shares of Procter & Gamble by 3.4% during the 3rd quarter. Synovus Financial Corp now owns 185,134 shares of the company’s stock worth $32,065,000 after acquiring an additional 6,077 shares during the period. Finally, Nordea Investment Management AB boosted its position in shares of Procter & Gamble by 7.5% during the 4th quarter. Nordea Investment Management AB now owns 2,898,569 shares of the company’s stock worth $484,583,000 after acquiring an additional 201,695 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Stock Performance

Shares of PG stock opened at $161.35 on Monday. The stock has a market capitalization of $379.98 billion, a PE ratio of 27.82, a PEG ratio of 3.41 and a beta of 0.45. The business’s 50 day simple moving average is $169.19 and its 200 day simple moving average is $169.42. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55. The Procter & Gamble Company has a one year low of $146.28 and a one year high of $180.43.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data 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. The company had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. Procter & Gamble’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.83 earnings per share. As a group, research analysts forecast that The Procter & Gamble Company will post 6.93 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th will be issued a dividend of $1.0065 per share. The ex-dividend date of this dividend is Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a yield of 2.50%. Procter & Gamble’s payout ratio is currently 69.31%.

Insider Transactions at Procter & Gamble

In other news, CEO R. Alexandra Keith sold 1,992 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $170.00, for a total transaction of $338,640.00. Following the transaction, the chief executive officer now owns 13,783 shares of the company’s stock, valued at $2,343,110. This represents a 12.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Balaji Purushothaman sold 12,800 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 11,566 shares of the company’s stock, valued at $1,954,538.34. This trade represents a 52.53 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,439 shares of company stock valued at $13,317,460. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PG. UBS Group lowered their price objective on shares of Procter & Gamble from $196.00 to $189.00 and set a “buy” rating for the company in a research report on Thursday. Evercore ISI boosted their price target on Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Piper Sandler assumed coverage on Procter & Gamble in a research note on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price objective on the stock. Barclays lowered their target price on Procter & Gamble from $163.00 to $155.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, Stifel Nicolaus reduced their price target on shares of Procter & Gamble from $167.00 to $161.00 and set a “hold” rating on the stock in a research note on Friday. Eight equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Procter & Gamble has a consensus rating of “Moderate Buy” and a consensus target price of $179.65.

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.