Argus Investors Counsel Inc. Trims Stock Position in The Procter & Gamble Company (NYSE:PG)

Argus Investors Counsel Inc. cut its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 4.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,439 shares of the company’s stock after selling 334 shares during the quarter. Argus Investors Counsel Inc.’s holdings in Procter & Gamble were worth $1,288,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new stake in Procter & Gamble during the second quarter worth about $28,000. Fairway Wealth LLC acquired a new stake in shares of Procter & Gamble in the second quarter valued at about $29,000. Ruedi Wealth Management Inc. grew its stake in shares of Procter & Gamble by 64.7% in the first quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock valued at $32,000 after buying an additional 77 shares in the last quarter. POM Investment Strategies LLC acquired a new stake in shares of Procter & Gamble in the second quarter valued at about $34,000. Finally, Quest Partners LLC acquired a new stake in shares of Procter & Gamble in the second quarter valued at about $36,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Balaji Purushothaman sold 8,842 shares of Procter & Gamble stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the transaction, the insider now directly owns 11,537 shares in the company, valued at approximately $1,902,451.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Balaji Purushothaman sold 8,842 shares of Procter & Gamble stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $164.90, for a total value of $1,458,045.80. Following the transaction, the insider now directly owns 11,537 shares in the company, valued at $1,902,451.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Andre Schulten sold 13,041 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $170.00, for a total value of $2,216,970.00. Following the completion of the sale, the chief financial officer now directly owns 37,208 shares of the company’s stock, valued at approximately $6,325,360. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 383,194 shares of company stock worth $65,140,718. 0.17% of the stock is owned by company insiders.

Analyst Ratings Changes

PG has been the subject of a number of recent research reports. Barclays lowered Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 target price for the company. in a research note on Monday, September 30th. Citigroup raised their price objective on Procter & Gamble from $177.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Hsbc Global Res upgraded Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. Evercore ISI raised their price objective on Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Piper Sandler began coverage on Procter & Gamble in a research note on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Procter & Gamble currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.00.

Procter & Gamble Stock Performance

Procter & Gamble stock traded up $0.56 during mid-day trading on Tuesday, hitting $170.10. 2,877,944 shares of the company’s stock traded hands, compared to its average volume of 6,668,405. The firm has a 50 day moving average price of $171.82 and a 200 day moving average price of $167.33. The company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 0.51. The company has a market cap of $401.46 billion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 3.74 and a beta of 0.41. The Procter & Gamble Company has a one year low of $142.50 and a one year high of $177.94.

Procter & Gamble (NYSE:PG) last announced its earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, beating 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 return on equity of 33.46% and a net margin of 17.71%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.83 EPS. On average, equities analysts forecast that The Procter & Gamble Company will post 6.97 EPS for the current year.

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be given a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Friday, October 18th. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.69%.

Procter & Gamble Profile

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.