Palumbo Wealth Management LLC Has $1.67 Million Holdings in The Procter & Gamble Company (NYSE:PG)

Palumbo Wealth Management LLC cut its position in The Procter & Gamble Company (NYSE:PG) by 3.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,931 shares of the company’s stock after selling 396 shares during the quarter. Palumbo Wealth Management LLC’s holdings in Procter & Gamble were worth $1,665,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of PG. International Assets Investment Management LLC grew its position in Procter & Gamble by 19,030.8% in the 3rd quarter. International Assets Investment Management LLC now owns 3,693,593 shares of the company’s stock worth $639,730,000 after purchasing an additional 3,674,286 shares during the last quarter. Geode Capital Management LLC grew its position in Procter & Gamble by 7.0% in the 3rd quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock worth $9,538,327,000 after purchasing an additional 3,619,466 shares during the last quarter. Franklin Resources Inc. grew its position in Procter & Gamble by 10.2% in the 3rd quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock worth $3,290,573,000 after purchasing an additional 1,760,214 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Procter & Gamble in the 3rd quarter worth $301,950,000. Finally, AMF Tjanstepension AB grew its position in Procter & Gamble by 416.1% in the 3rd quarter. AMF Tjanstepension AB now owns 1,818,490 shares of the company’s stock worth $315,016,000 after purchasing an additional 1,466,115 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on PG shares. DA Davidson restated a “buy” rating and issued a $209.00 price target on shares of Procter & Gamble in a research report on Thursday, January 23rd. Evercore ISI raised their price objective on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Barclays raised their price objective 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. JPMorgan Chase & Co. reduced their price objective on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Finally, Morgan Stanley raised their price objective on shares of Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Eight 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 stock. According to MarketBeat.com, Procter & Gamble currently has an average rating of “Moderate Buy” and a consensus price target of $180.53.

Procter & Gamble Trading Down 4.8 %

Shares of NYSE PG opened at $162.84 on Friday. The Procter & Gamble Company has a 1-year low of $153.52 and a 1-year high of $180.43. The company has a market cap of $381.84 billion, a PE ratio of 25.93, a P/E/G ratio of 3.79 and a beta of 0.45. 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 company has a 50-day moving average of $166.51 and a two-hundred day moving average of $169.40.

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

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th will be paid a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Friday, January 24th. Procter & Gamble’s dividend payout ratio is presently 64.17%.

Insider Transactions at Procter & Gamble

In other news, insider Balaji Purushothaman sold 12,800 shares of Procter & Gamble stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $172.73, for a total transaction of $2,210,944.00. Following the completion of the sale, the insider now owns 11,595 shares in the company, valued at $2,002,804.35. The trade was a 52.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gary A. Coombe sold 47,847 shares of Procter & Gamble stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $179.84, for a total transaction of $8,604,804.48. Following the sale, the chief executive officer now owns 39,977 shares of the company’s stock, valued at approximately $7,189,463.68. This represents a 54.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 151,097 shares of company stock worth $25,635,076 in the last quarter. 0.18% of the stock is owned by company insiders.

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.