Spinnaker Trust Reduces Stock Position in The Procter & Gamble Company (NYSE:PG)

Spinnaker Trust lessened its stake in The Procter & Gamble Company (NYSE:PG) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,411 shares of the company’s stock after selling 100 shares during the period. Spinnaker Trust’s holdings in Procter & Gamble were worth $6,361,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Dfpg Investments LLC increased its stake in Procter & Gamble by 1.7% during the fourth quarter. Dfpg Investments LLC now owns 24,892 shares of the company’s stock valued at $3,680,000 after purchasing an additional 424 shares during the last quarter. Garrett Wealth Advisory Group LLC raised its stake in Procter & Gamble by 6.3% during the third quarter. Garrett Wealth Advisory Group LLC now owns 4,419 shares of the company’s stock worth $645,000 after acquiring an additional 260 shares during the period. N.E.W. Advisory Services LLC lifted its holdings in Procter & Gamble by 14.6% in the third quarter. N.E.W. Advisory Services LLC now owns 94,424 shares of the company’s stock worth $13,772,000 after acquiring an additional 12,016 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Procter & Gamble by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 16,003,260 shares of the company’s stock valued at $2,298,184,000 after acquiring an additional 131,339 shares during the period. Finally, Miracle Mile Advisors LLC grew its holdings in shares of Procter & Gamble by 105.5% during the fourth quarter. Miracle Mile Advisors LLC now owns 59,363 shares of the company’s stock valued at $8,699,000 after purchasing an additional 30,473 shares during the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

Procter & Gamble Stock Down 0.8 %

PG stock traded down $1.31 during midday trading on Friday, reaching $161.24. The company had a trading volume of 5,659,643 shares, compared to its average volume of 6,957,020. The Procter & Gamble Company has a 1 year low of $141.45 and a 1 year high of $164.32. The company has a current ratio of 0.69, a quick ratio of 0.48 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $380.55 billion, a P/E ratio of 26.35, a PEG ratio of 3.30 and a beta of 0.44. The company has a 50 day moving average of $159.64 and a two-hundred day moving average of $153.51.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Friday, April 19th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.42 by $0.10. Procter & Gamble had a net margin of 18.00% and a return on equity of 33.91%. The company had revenue of $20.20 billion for the quarter, compared to analyst estimates of $20.43 billion. During the same quarter in the prior year, the business posted $1.37 EPS. Procter & Gamble’s quarterly revenue was up .6% on a year-over-year basis. On average, equities research analysts expect that The Procter & Gamble Company will post 6.55 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be paid a $1.0065 dividend. The ex-dividend date is Thursday, April 18th. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.94. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.50%. Procter & Gamble’s payout ratio is presently 65.85%.

Analysts Set New Price Targets

A number of analysts recently weighed in on PG shares. JPMorgan Chase & Co. dropped their price objective on shares of Procter & Gamble from $169.00 to $162.00 and set an “overweight” rating on the stock in a report on Thursday, January 18th. Raymond James increased their price objective on Procter & Gamble from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Truist Financial upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and lifted their price objective for the company from $160.00 to $175.00 in a research note on Monday, March 11th. StockNews.com lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Finally, Stifel Nicolaus boosted their price target on shares of Procter & Gamble from $155.00 to $157.00 and gave the stock a “hold” rating in a research report on Wednesday, January 24th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $169.76.

Insider Buying and Selling

In other news, insider Susan Street Whaley sold 3,865 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $160.60, for a total value of $620,719.00. Following the completion of the sale, the insider now directly owns 11,886 shares of the company’s stock, valued at $1,908,891.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Susan Street Whaley sold 3,865 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $160.60, for a total transaction of $620,719.00. Following the completion of the transaction, the insider now owns 11,886 shares of the company’s stock, valued at $1,908,891.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO R. Alexandra Keith sold 776 shares of Procter & Gamble stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $158.11, for a total value of $122,693.36. Following the sale, the chief executive officer now directly owns 4,859 shares in the company, valued at $768,256.49. The disclosure for this sale can be found here. In the last 90 days, insiders sold 100,865 shares of company stock valued at $16,029,280. Insiders own 0.17% of the company’s stock.

Procter & Gamble Profile

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.