Retirement Systems of Alabama Purchases 126,865 Shares of The Procter & Gamble Company (NYSE:PG)

Retirement Systems of Alabama raised its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 13.6% during the third quarter, HoldingsChannel.com reports. The firm owned 1,059,739 shares of the company’s stock after acquiring an additional 126,865 shares during the quarter. Procter & Gamble makes up 0.7% of Retirement Systems of Alabama’s portfolio, making the stock its 19th biggest position. Retirement Systems of Alabama’s holdings in Procter & Gamble were worth $183,547,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Geode Capital Management LLC lifted its stake in shares of Procter & Gamble by 7.0% in the 3rd quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock valued at $9,538,327,000 after purchasing an additional 3,619,466 shares during the period. FMR LLC raised its position in shares of Procter & Gamble by 2.7% in the 3rd quarter. FMR LLC now owns 26,556,319 shares of the company’s stock valued at $4,599,554,000 after acquiring an additional 689,282 shares during the period. Legal & General Group Plc raised its stake in Procter & Gamble by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 21,632,054 shares of the company’s stock worth $3,567,556,000 after buying an additional 122,190 shares during the period. Franklin Resources Inc. lifted its holdings in Procter & Gamble by 10.2% during the third quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock worth $3,290,573,000 after acquiring an additional 1,760,214 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of 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 acquiring an additional 830,476 shares in the last quarter. Institutional investors own 65.77% of the company’s stock.

Procter & Gamble Stock Performance

NYSE PG opened at $170.65 on Friday. The Procter & Gamble Company has a 12-month low of $142.50 and a 12-month high of $180.43. The firm has a 50-day moving average price of $170.69 and a two-hundred day moving average price of $169.51. The company has a market capitalization of $401.89 billion, a P/E ratio of 29.46, a P/E/G ratio of 3.69 and a beta of 0.44. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Friday, October 18th. The company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.03. The firm had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The company’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the company earned $1.83 EPS. Analysts anticipate that The Procter & Gamble Company will post 6.94 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were given a $1.0065 dividend. This represents a $4.03 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Friday, October 18th. Procter & Gamble’s payout ratio is presently 69.48%.

Analyst Ratings Changes

Several research firms recently commented on PG. Wolfe Research raised shares of Procter & Gamble to a “strong-buy” rating in a research report on Friday, August 23rd. Barclays downgraded Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price objective for the company. in a report on Monday, September 30th. JPMorgan Chase & Co. upped their price target on Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. 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. Finally, Piper Sandler initiated coverage on Procter & Gamble in a report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price objective for the company. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Procter & Gamble currently has an average rating of “Moderate Buy” and an average target price of $180.45.

Insider Buying and Selling

In related news, insider Susan Street Whaley sold 634 shares of Procter & Gamble stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total transaction of $108,826.10. Following the sale, the insider now directly owns 19,341 shares of the company’s stock, valued at approximately $3,319,882.65. The trade was a 3.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Balaji Purushothaman sold 12,800 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the completion of the transaction, the insider now directly owns 11,566 shares of the company’s stock, valued at approximately $1,954,538.34. The trade was a 52.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,080 shares of company stock worth $14,629,038. Corporate insiders own 0.18% of the company’s stock.

About Procter & Gamble

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.