Gray Wealth Management Inc. Sells 62 Shares of The Procter & Gamble Company (NYSE:PG)

Gray Wealth Management Inc. cut its stake in The Procter & Gamble Company (NYSE:PG) by 0.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,923 shares of the company’s stock after selling 62 shares during the quarter. Procter & Gamble accounts for 1.8% of Gray Wealth Management Inc.’s holdings, making the stock its 14th biggest position. Gray Wealth Management Inc.’s holdings in Procter & Gamble were worth $4,849,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Raymond James Financial Inc. bought a new position in shares of Procter & Gamble during the fourth quarter worth $1,010,685,000. Geode Capital Management LLC raised its stake in Procter & Gamble by 7.0% during the 3rd quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock worth $9,538,327,000 after buying an additional 3,619,466 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Procter & Gamble by 1,195.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company’s stock worth $580,596,000 after acquiring an additional 2,973,757 shares in the last quarter. Franklin Resources Inc. grew its stake in Procter & Gamble by 10.2% in the third quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock valued at $3,290,573,000 after acquiring an additional 1,760,214 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Procter & Gamble in the third quarter worth about $301,950,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on PG. JPMorgan Chase & Co. dropped their target price on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a research note on Thursday, January 23rd. Stifel Nicolaus boosted their price target on Procter & Gamble from $161.00 to $165.00 and gave the company a “hold” rating in a report on Thursday, January 23rd. Piper Sandler dropped their target price on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating on the stock in a research report on Monday, February 24th. Finally, DA Davidson reiterated a “buy” rating and issued a $209.00 price objective on shares of Procter & Gamble in a report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Procter & Gamble has an average rating of “Moderate Buy” and a consensus target price of $181.47.

Insider Transactions at Procter & Gamble

In other Procter & Gamble news, insider Marc S. Pritchard sold 90,450 shares of the firm’s stock in a transaction on Thursday, January 23rd. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $6,078,800.00. Following the sale, the chief executive officer now owns 22,051 shares of the company’s stock, valued at approximately $3,829,817.68. The trade was a 61.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 143,450 shares of company stock valued at $23,988,008. 0.18% of the stock is currently owned by corporate insiders.

Procter & Gamble Price Performance

Shares of PG opened at $168.20 on Monday. The company’s 50-day moving average is $167.27 and its 200-day moving average is $169.81. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55. The firm has a market capitalization of $394.39 billion, a PE ratio of 26.78, a PEG ratio of 3.76 and a beta of 0.41. 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 issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.02. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The firm had revenue of $21.88 billion during the quarter, compared to the consensus estimate of $21.66 billion. During the same period last year, the business posted $1.84 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts forecast that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th were given a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend was Friday, January 24th. Procter & Gamble’s payout ratio is 64.01%.

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.