AMF Tjanstepension AB Reduces Holdings in The Procter & Gamble Company (NYSE:PG)

AMF Tjanstepension AB lessened its position in shares of The Procter & Gamble Company (NYSE:PG) by 18.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,486,964 shares of the company’s stock after selling 331,526 shares during the quarter. Procter & Gamble comprises about 1.8% of AMF Tjanstepension AB’s holdings, making the stock its 17th largest position. AMF Tjanstepension AB’s holdings in Procter & Gamble were worth $249,478,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. NewSquare Capital LLC raised its stake in shares of Procter & Gamble by 933.3% in the 4th quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock valued at $26,000 after acquiring an additional 140 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in Procter & Gamble in the 3rd quarter valued at approximately $33,000. Noble Wealth Management PBC purchased a new stake in Procter & Gamble in the fourth quarter valued at approximately $39,000. Bay Harbor Wealth Management LLC lifted its stake in Procter & Gamble by 972.0% during the fourth quarter. Bay Harbor Wealth Management LLC now owns 268 shares of the company’s stock worth $45,000 after purchasing an additional 243 shares in the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new position in shares of Procter & Gamble during the fourth quarter worth $46,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Gary A. Coombe sold 18,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 22,051 shares of the company’s stock, valued at approximately $3,785,274.66. This represents a 44.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Marc S. Pritchard sold 90,450 shares of Procter & Gamble stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total transaction 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. The trade was a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 143,450 shares of company stock valued at $23,988,008. 0.18% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Barclays boosted their price objective on Procter & Gamble from $155.00 to $159.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. DA Davidson reissued a “buy” rating and set a $209.00 price target on shares of Procter & Gamble in a research report on Thursday, January 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Wells Fargo & Company upped their target price on shares of Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Finally, Piper Sandler decreased their price target on shares of Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a research report on Monday, February 24th. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $181.11.

Procter & Gamble Price Performance

Shares of NYSE PG opened at $176.06 on Friday. The stock’s 50-day simple moving average is $166.85 and its 200-day simple moving average is $169.77. The firm has a market capitalization of $412.84 billion, a PE ratio of 28.04, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a fifty-two week low of $153.52 and a fifty-two week high of $180.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76.

Procter & Gamble (NYSE:PG) last released 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. 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 for the quarter, compared to analysts’ expectations of $21.66 billion. During the same quarter last year, the company earned $1.84 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities research analysts forecast that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th were paid a $1.0065 dividend. The ex-dividend date was Friday, January 24th. This represents a $4.03 annualized dividend and a yield of 2.29%. Procter & Gamble’s dividend 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.