Drive Wealth Management LLC Trims Holdings in The Procter & Gamble Company (NYSE:PG)

Drive Wealth Management LLC trimmed its stake in The Procter & Gamble Company (NYSE:PGFree Report) by 2.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 7,645 shares of the company’s stock after selling 219 shares during the period. Drive Wealth Management LLC’s holdings in Procter & Gamble were worth $1,120,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. First Citizens Bank & Trust Co. raised its stake in shares of Procter & Gamble by 12.5% in the 4th quarter. First Citizens Bank & Trust Co. now owns 98,269 shares of the company’s stock valued at $14,400,000 after acquiring an additional 10,920 shares during the period. Pinnacle Financial Partners Inc grew its holdings in shares of Procter & Gamble by 0.5% in the fourth quarter. Pinnacle Financial Partners Inc now owns 180,785 shares of the company’s stock valued at $26,492,000 after purchasing an additional 952 shares in the last quarter. Wolf Group Capital Advisors grew its holdings in shares of Procter & Gamble by 5.7% in the fourth quarter. Wolf Group Capital Advisors now owns 10,289 shares of the company’s stock valued at $1,561,000 after purchasing an additional 552 shares in the last quarter. Iron Horse Wealth Management LLC grew its holdings in shares of Procter & Gamble by 23.3% in the fourth quarter. Iron Horse Wealth Management LLC now owns 1,275 shares of the company’s stock valued at $187,000 after purchasing an additional 241 shares in the last quarter. Finally, Essex Savings Bank grew its holdings in shares of Procter & Gamble by 5.0% in the fourth quarter. Essex Savings Bank now owns 29,813 shares of the company’s stock valued at $4,369,000 after purchasing an additional 1,430 shares in the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Ma. Fatima Francisco sold 74,443 shares of the company’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $153.30, for a total value of $11,412,111.90. Following the completion of the sale, the chief executive officer now owns 973 shares in the company, valued at approximately $149,160.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Ma. Fatima Francisco sold 74,443 shares of the company’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $153.30, for a total value of $11,412,111.90. Following the completion of the sale, the chief executive officer now owns 973 shares in the company, valued at approximately $149,160.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Gary A. Coombe sold 22,000 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $161.32, for a total transaction of $3,549,040.00. Following the completion of the sale, the chief executive officer now owns 36,845 shares of the company’s stock, valued at approximately $5,943,835.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 279,063 shares of company stock worth $43,187,745. Corporate insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on PG shares. Barclays lifted their price objective on shares of Procter & Gamble from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. UBS Group lifted their price objective on shares of Procter & Gamble from $172.00 to $178.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Raymond James lifted their price objective on shares of Procter & Gamble from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Truist Financial upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and lifted their price objective for the company from $160.00 to $175.00 in a report on Monday, March 11th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Procter & Gamble from $169.00 to $162.00 and set an “overweight” rating for the company in a report on Thursday, January 18th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $168.41.

Get Our Latest Analysis on PG

Procter & Gamble Trading Down 0.0 %

Shares of Procter & Gamble stock opened at $160.57 on Wednesday. The company has a fifty day simple moving average of $159.25 and a 200-day simple moving average of $152.32. The Procter & Gamble Company has a 12-month low of $141.45 and a 12-month high of $163.14. The company has a current ratio of 0.64, a quick ratio of 0.44 and a debt-to-equity ratio of 0.48. The stock has a market cap of $377.82 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 3.28 and a beta of 0.44.

Procter & Gamble (NYSE:PGGet Free Report) last issued its earnings results on Tuesday, January 23rd. The company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.14. Procter & Gamble had a net margin of 17.60% and a return on equity of 34.04%. The business had revenue of $21.44 billion during the quarter, compared to analysts’ expectations of $21.48 billion. During the same quarter in the prior year, the business posted $1.59 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, equities analysts forecast that The Procter & Gamble Company will post 6.45 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Friday, January 19th were issued a $0.9407 dividend. This represents a $3.76 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend was Thursday, January 18th. Procter & Gamble’s payout ratio is 62.98%.

Procter & Gamble Company Profile

(Free Report)

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.

See Also

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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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