GLOBALT Investments LLC GA Sells 785 Shares of The Procter & Gamble Company (NYSE:PG)

GLOBALT Investments LLC GA decreased its position in shares of The Procter & Gamble Company (NYSE:PG) by 1.6% during the third quarter, Holdings Channel.com reports. The fund owned 48,875 shares of the company’s stock after selling 785 shares during the quarter. GLOBALT Investments LLC GA’s holdings in Procter & Gamble were worth $8,465,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Acorn Creek Capital LLC lifted its position in Procter & Gamble by 2.8% in the third quarter. Acorn Creek Capital LLC now owns 2,170 shares of the company’s stock worth $376,000 after buying an additional 59 shares during the last quarter. Patrick M Sweeney & Associates Inc. lifted its position in Procter & Gamble by 1.1% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 5,561 shares of the company’s stock worth $963,000 after buying an additional 59 shares during the last quarter. Hudson Value Partners LLC lifted its position in Procter & Gamble by 4.1% in the second quarter. Hudson Value Partners LLC now owns 1,516 shares of the company’s stock worth $250,000 after buying an additional 60 shares during the last quarter. Traveka Wealth LLC lifted its position in Procter & Gamble by 1.7% in the third quarter. Traveka Wealth LLC now owns 3,554 shares of the company’s stock worth $616,000 after buying an additional 60 shares during the last quarter. Finally, Fiduciary Alliance LLC lifted its position in Procter & Gamble by 2.8% in the second quarter. Fiduciary Alliance LLC now owns 2,261 shares of the company’s stock worth $371,000 after buying an additional 61 shares during the last quarter. Institutional investors own 65.77% of the company’s stock.

Procter & Gamble Price Performance

Shares of PG stock opened at $169.54 on Monday. The Procter & Gamble Company has a fifty-two week low of $142.50 and a fifty-two week high of $177.94. The firm has a market capitalization of $399.27 billion, a price-to-earnings ratio of 29.23, a PEG ratio of 3.67 and a beta of 0.42. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75. The stock’s 50-day simple moving average is $170.32 and its 200-day simple moving average is $168.40.

Procter & Gamble (NYSE:PG) last issued its earnings results on Friday, October 18th. The company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. The firm had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. Procter & Gamble’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.83 earnings per share. As a group, equities analysts forecast that The Procter & Gamble Company will post 6.94 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were issued a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend was Friday, October 18th. Procter & Gamble’s payout ratio is presently 69.48%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PG. Piper Sandler started coverage on Procter & Gamble in a research report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price target for the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $164.00 target price on shares of Procter & Gamble in a research report on Monday, October 21st. Jefferies Financial Group downgraded Procter & Gamble from a “buy” rating to a “hold” rating and decreased their target price for the stock from $182.00 to $175.00 in a research report on Wednesday, July 24th. Wolfe Research upgraded Procter & Gamble to a “strong-buy” rating in a research report on Friday, August 23rd. Finally, DA Davidson lifted their price objective on Procter & Gamble from $159.00 to $160.00 and gave the company a “neutral” rating in a report on Monday, October 21st. Nine 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $177.00.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, insider Balaji Purushothaman sold 12,800 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $168.99, for a total value of $2,163,072.00. Following the completion of the sale, the insider now directly owns 11,566 shares in the company, valued at $1,954,538.34. This represents a 52.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jon R. Moeller sold 31,797 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total value of $5,380,688.34. Following the completion of the sale, the chief executive officer now owns 300,777 shares of the company’s stock, valued at approximately $50,897,483.94. The trade was a 9.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 313,597 shares of company stock valued at $53,268,499. 0.18% of the stock is owned by company insiders.

About Procter & Gamble

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.