MAI Capital Management Sells 22,921 Shares of The Procter & Gamble Company (NYSE:PG)

MAI Capital Management reduced its stake in The Procter & Gamble Company (NYSE:PG) by 5.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 410,133 shares of the company’s stock after selling 22,921 shares during the period. MAI Capital Management’s holdings in Procter & Gamble were worth $71,035,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC boosted its position in shares of Procter & Gamble by 4.5% during the third quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock valued at $16,300,000 after buying an additional 4,035 shares during the last quarter. Radnor Capital Management LLC bought a new stake in shares of Procter & Gamble in the third quarter valued at $5,705,000. Welch Group LLC increased its stake in shares of Procter & Gamble by 0.9% in the third quarter. Welch Group LLC now owns 323,870 shares of the company’s stock worth $56,094,000 after purchasing an additional 2,990 shares in the last quarter. GAMMA Investing LLC boosted its stake in Procter & Gamble by 67.2% during the second quarter. GAMMA Investing LLC now owns 26,803 shares of the company’s stock valued at $4,420,000 after buying an additional 10,777 shares during the period. Finally, Curi RMB Capital LLC grew its stake in Procter & Gamble by 20.3% in the 3rd quarter. Curi RMB Capital LLC now owns 21,655 shares of the company’s stock worth $3,751,000 after buying an additional 3,652 shares in the last quarter. Institutional investors own 65.77% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on PG shares. Stifel Nicolaus boosted their price target on Procter & Gamble from $157.00 to $161.00 and gave the company a “hold” rating in a report on Monday, July 22nd. StockNews.com downgraded Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. DZ Bank raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a research report on Thursday, August 29th. Evercore ISI lifted their target price on Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Finally, Barclays lowered shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 target price for the company. in a report on Monday, September 30th. Nine research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $177.00.

Insider Buying and Selling at Procter & Gamble

In related news, insider Susan Street Whaley sold 634 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total transaction of $108,826.10. Following the completion of the sale, the insider now owns 19,341 shares of the company’s stock, valued at $3,319,882.65. This trade represents a 3.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Balaji Purushothaman sold 12,800 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total value of $2,163,072.00. Following the completion of the transaction, the insider now directly owns 11,566 shares in the company, valued at approximately $1,954,538.34. This trade represents a 52.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 313,597 shares of company stock worth $53,268,499 over the last 90 days. Insiders own 0.18% of the company’s stock.

Procter & Gamble Stock Performance

Shares of PG opened at $169.54 on Monday. The firm has a market cap of $399.27 billion, a P/E 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 Procter & Gamble Company has a twelve month low of $142.50 and a twelve month high of $177.94. The firm’s 50 day moving average price is $170.32 and its two-hundred day moving average price is $168.40.

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

Procter & Gamble Announces Dividend

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

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.