Provident Wealth Management LLC Has $3.95 Million Stock Holdings in The Procter & Gamble Company (NYSE:PG)

Provident Wealth Management LLC cut its stake in shares of The Procter & Gamble Company (NYSE:PG) by 2.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 23,579 shares of the company’s stock after selling 625 shares during the quarter. Procter & Gamble accounts for 1.3% of Provident Wealth Management LLC’s investment portfolio, making the stock its 15th biggest position. Provident Wealth Management LLC’s holdings in Procter & Gamble were worth $3,953,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Geode Capital Management LLC lifted its position in shares of Procter & Gamble by 7.0% in the third quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock valued at $9,538,327,000 after buying an additional 3,619,466 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Procter & Gamble by 10.2% in the third quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock valued at $3,290,573,000 after buying an additional 1,760,214 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Procter & Gamble during the 3rd quarter worth approximately $301,950,000. AMF Tjanstepension AB lifted its holdings in Procter & Gamble by 416.1% during 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. Finally, Icon Wealth Advisors LLC lifted its holdings in Procter & Gamble by 4,621.9% during the 3rd quarter. Icon Wealth Advisors LLC now owns 1,285,923 shares of the company’s stock worth $222,722,000 after purchasing an additional 1,258,690 shares during the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Gary A. Coombe sold 18,000 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $171.66, for a total value of $3,089,880.00. Following the transaction, the chief executive officer now directly owns 22,051 shares of the company’s stock, valued at $3,785,274.66. The trade was a 44.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Marc S. Pritchard sold 90,450 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 172,814 shares in the company, valued at $28,313,845.76. This represents a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PG shares. JPMorgan Chase & Co. dropped their price target on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Barclays lifted their price target on Procter & Gamble from $155.00 to $159.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. UBS Group reissued a “buy” rating on shares of Procter & Gamble in a report on Monday, February 10th. Piper Sandler dropped their price target on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a report on Monday. Finally, Stifel Nicolaus raised their price objective on Procter & Gamble from $161.00 to $165.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $180.42.

Procter & Gamble Trading Up 1.3 %

Shares of PG stock opened at $172.70 on Wednesday. The firm has a market capitalization of $404.95 billion, a P/E ratio of 27.50, a P/E/G ratio of 3.76 and a beta of 0.45. The Procter & Gamble Company has a twelve month low of $153.52 and a twelve month high of $180.43. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50. The stock’s fifty day simple moving average is $166.07 and its 200 day simple moving average is $169.46.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data 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. The business had revenue of $21.88 billion for the quarter, compared to analyst estimates of $21.66 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. Procter & Gamble’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.84 EPS. As a group, sell-side analysts predict that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th were issued a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend was Friday, January 24th. Procter & Gamble’s payout ratio is presently 64.01%.

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.