Legacy Bridge LLC Sells 400 Shares of The Procter & Gamble Company (NYSE:PG)

Legacy Bridge LLC trimmed its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 7.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,714 shares of the company’s stock after selling 400 shares during the quarter. Legacy Bridge LLC’s holdings in Procter & Gamble were worth $816,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Itau Unibanco Holding S.A. purchased a new position in Procter & Gamble during the 2nd quarter worth $28,000. Fairway Wealth LLC purchased a new position in shares of Procter & Gamble during the second quarter valued at $29,000. POM Investment Strategies LLC bought a new stake in shares of Procter & Gamble in the second quarter valued at about $34,000. Quest Partners LLC purchased a new stake in Procter & Gamble in the second quarter worth about $36,000. Finally, Fairfield Financial Advisors LTD bought a new position in Procter & Gamble during the 2nd quarter worth about $44,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

Procter & Gamble Stock Performance

PG opened at $170.80 on Tuesday. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a 12-month low of $142.50 and a 12-month high of $177.94. The firm has a 50 day moving average of $170.21 and a two-hundred day moving average of $168.45. The firm has a market capitalization of $402.24 billion, a PE ratio of 29.45, a P/E/G ratio of 3.67 and a beta of 0.42.

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 during the quarter, compared to analysts’ expectations of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The firm’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the company posted $1.83 earnings per share. On average, analysts anticipate that The Procter & Gamble Company will post 6.94 EPS for the current year.

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were issued a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a yield of 2.36%. The ex-dividend date was Friday, October 18th. Procter & Gamble’s dividend payout ratio (DPR) is 69.48%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PG shares. Jefferies Financial Group cut shares of Procter & Gamble from a “buy” rating to a “hold” rating and lowered their price target for the stock from $182.00 to $175.00 in a research report on Wednesday, July 24th. Evercore ISI increased their target price on Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. Hsbc Global Res upgraded Procter & Gamble to a “strong-buy” rating in a report on Friday, October 4th. Barclays downgraded Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price objective on the stock. in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. Nine research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $177.00.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, CEO Ma. Fatima Francisco sold 96,000 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $170.00, for a total value of $16,320,000.00. Following the completion of the transaction, the chief executive officer now owns 13,721 shares in the company, valued at approximately $2,332,570. This represents a 87.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jon R. Moeller sold 87,979 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $170.40, for a total value of $14,991,621.60. Following the sale, the chief executive officer now owns 300,777 shares in the company, valued at $51,252,400.80. This trade represents a 22.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 270,727 shares of company stock worth $46,014,037. 0.18% of the stock is owned by corporate insiders.

Procter & Gamble Company 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.