Connable Office Inc. Reduces Position in The Procter & Gamble Company (NYSE:PG)

Connable Office Inc. cut its position in The Procter & Gamble Company (NYSE:PG) by 2.3% during the fourth quarter, HoldingsChannel reports. The firm owned 24,421 shares of the company’s stock after selling 584 shares during the quarter. Connable Office Inc.’s holdings in Procter & Gamble were worth $4,094,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new position in shares of Procter & Gamble in the 3rd quarter valued at $33,000. Noble Wealth Management PBC purchased a new position in Procter & Gamble during the 4th quarter worth $39,000. Bay Harbor Wealth Management LLC grew its position in Procter & Gamble by 972.0% during the 4th quarter. Bay Harbor Wealth Management LLC now owns 268 shares of the company’s stock worth $45,000 after purchasing an additional 243 shares during the last quarter. New Wave Wealth Advisors LLC acquired a new stake in shares of Procter & Gamble in the 4th quarter worth $46,000. Finally, Costello Asset Management INC lifted its stake in shares of Procter & Gamble by 2,142.9% in the 3rd quarter. Costello Asset Management INC now owns 314 shares of the company’s stock worth $54,000 after acquiring an additional 300 shares during the period. 65.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Procter & Gamble

In related news, CEO Gary A. Coombe sold 18,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $171.66, for a total value of $3,089,880.00. Following the completion of the sale, the chief executive officer now directly owns 22,051 shares in the company, valued at approximately $3,785,274.66. The trade was a 44.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marc S. Pritchard sold 90,450 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the completion of the sale, the insider now owns 172,814 shares of the company’s stock, valued at approximately $28,313,845.76. The trade was a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

PG has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on shares of Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. UBS Group restated a “buy” rating on shares of Procter & Gamble in a research note on Monday, February 10th. Barclays raised their target price on shares of Procter & Gamble from $155.00 to $159.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. Royal Bank of Canada restated a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a research note on Thursday, January 23rd. Finally, DA Davidson reiterated a “buy” rating and issued a $209.00 price objective on shares of Procter & Gamble in a research note on Thursday, January 23rd. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $180.42.

Procter & Gamble Stock Performance

Shares of PG opened at $173.84 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The stock has a market cap of $407.63 billion, a P/E ratio of 27.68, a PEG ratio of 3.76 and a beta of 0.45. The company has a 50-day moving average of $166.29 and a two-hundred day moving average of $169.54. The Procter & Gamble Company has a 12-month low of $153.52 and a 12-month high of $180.43.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. The business had revenue of $21.88 billion during the quarter, compared to the consensus estimate of $21.66 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.84 earnings per share. As a group, research analysts predict that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th were issued a dividend of $1.0065 per share. The ex-dividend date was Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.32%. Procter & Gamble’s dividend payout ratio (DPR) is presently 64.01%.

Procter & Gamble Company 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.