Erste Asset Management GmbH Cuts Stock Holdings in The Procter & Gamble Company (NYSE:PG)

Erste Asset Management GmbH reduced its holdings in The Procter & Gamble Company (NYSE:PG) by 16.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 290,928 shares of the company’s stock after selling 56,454 shares during the period. Erste Asset Management GmbH’s holdings in Procter & Gamble were worth $48,774,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. NewSquare Capital LLC grew its stake in shares of Procter & Gamble by 933.3% in the 4th quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock worth $26,000 after buying an additional 140 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new position in shares of Procter & Gamble in the 3rd quarter worth $33,000. Noble Wealth Management PBC bought a new stake in shares of Procter & Gamble in the 4th quarter worth about $39,000. Bay Harbor Wealth Management LLC lifted its holdings in shares of Procter & Gamble by 972.0% in the 4th quarter. Bay Harbor Wealth Management LLC now owns 268 shares of the company’s stock worth $45,000 after acquiring an additional 243 shares during the last quarter. Finally, New Wave Wealth Advisors LLC bought a new stake in shares of Procter & Gamble in the 4th quarter worth about $46,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PG has been the subject of several 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 report on Thursday, January 23rd. 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 report on Thursday, January 23rd. Stifel Nicolaus raised their target price on shares of Procter & Gamble from $161.00 to $165.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. DA Davidson restated a “buy” rating and issued a $209.00 target price on shares of Procter & Gamble in a report on Thursday, January 23rd. Finally, Piper Sandler lowered their target price on shares of Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a report on Monday, February 24th. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $181.47.

Insider Transactions at Procter & Gamble

In other news, insider Marc S. Pritchard sold 90,450 shares of Procter & Gamble stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total value of $14,819,328.00. Following the transaction, the insider now owns 172,814 shares of the company’s stock, valued at $28,313,845.76. The trade was a 34.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gary A. Coombe sold 18,000 shares of Procter & Gamble stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $171.66, for a total transaction of $3,089,880.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 143,450 shares of company stock valued at $23,988,008 in the last 90 days. Insiders own 0.18% of the company’s stock.

Procter & Gamble Trading Down 2.8 %

NYSE:PG opened at $168.35 on Thursday. The Procter & Gamble Company has a one year low of $153.52 and a one year high of $180.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76. The firm has a market cap of $394.75 billion, a P/E ratio of 26.81, a P/E/G ratio of 3.76 and a beta of 0.41. The firm has a 50-day simple moving average of $167.16 and a 200-day simple moving average of $169.83.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, beating 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 business had revenue of $21.88 billion during the quarter, compared to analyst estimates of $21.66 billion. During the same quarter in the previous year, the business posted $1.84 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities analysts anticipate that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

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

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.