Parisi Gray Wealth Management Sells 144 Shares of The Procter & Gamble Company (NYSE:PG)

Parisi Gray Wealth Management lowered its position in shares of The Procter & Gamble Company (NYSE:PG) by 3.9% in the 4th quarter, HoldingsChannel reports. The firm owned 3,589 shares of the company’s stock after selling 144 shares during the quarter. Parisi Gray Wealth Management’s holdings in Procter & Gamble were worth $602,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PG. Itau Unibanco Holding S.A. bought a new stake in Procter & Gamble in the second quarter worth $28,000. Fairway Wealth LLC purchased a new position in shares of Procter & Gamble in the second quarter worth about $29,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Procter & Gamble in the 3rd quarter valued at about $33,000. Quest Partners LLC bought a new position in Procter & Gamble during the 2nd quarter worth approximately $36,000. Finally, Fairfield Financial Advisors LTD purchased a new position in Procter & Gamble in the 2nd quarter worth approximately $44,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PG. Piper Sandler began coverage on shares of Procter & Gamble in a report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 target price on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Evercore ISI increased their target price on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Hsbc Global Res upgraded Procter & Gamble to a “strong-buy” rating in a report on Friday, October 4th. Finally, Morgan Stanley increased their price objective on Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Eight investment 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 company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $179.75.

Procter & Gamble Price Performance

PG opened at $158.86 on Tuesday. The Procter & Gamble Company has a 1 year low of $146.28 and a 1 year high of $180.43. The stock has a 50-day moving average price of $169.52 and a 200-day moving average price of $169.55. The firm has a market cap of $374.12 billion, a PE ratio of 27.39, a P/E/G ratio of 3.70 and a beta of 0.45. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55.

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

Insiders Place Their Bets

In other news, CEO Gary A. Coombe sold 47,847 shares of Procter & Gamble stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $179.84, for a total value of $8,604,804.48. Following the completion of the sale, the chief executive officer now directly owns 39,977 shares in the company, valued at $7,189,463.68. The trade was a 54.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Balaji Purushothaman sold 12,800 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $172.73, for a total transaction of $2,210,944.00. Following the transaction, the insider now owns 11,595 shares in the company, valued at approximately $2,002,804.35. This trade represents a 52.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,439 shares of company stock valued at $13,317,460. Corporate insiders own 0.18% of the company’s stock.

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.