The Procter & Gamble Company (NYSE:PG) Shares Sold by Parnassus Investments LLC

Parnassus Investments LLC decreased its position in The Procter & Gamble Company (NYSE:PG) by 0.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 3,796,979 shares of the company’s stock after selling 6,740 shares during the period. Parnassus Investments LLC’s holdings in Procter & Gamble were worth $657,637,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Procter & Gamble in the 3rd quarter valued at about $301,950,000. SouthState Corp increased its stake in shares of Procter & Gamble by 0.4% during the 3rd quarter. SouthState Corp now owns 78,995 shares of the company’s stock valued at $13,682,000 after acquiring an additional 289 shares during the last quarter. Guardian Wealth Advisors LLC increased its stake in shares of Procter & Gamble by 2.5% during the 3rd quarter. Guardian Wealth Advisors LLC now owns 4,049 shares of the company’s stock valued at $701,000 after acquiring an additional 99 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its stake in shares of Procter & Gamble by 8.5% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 37,479 shares of the company’s stock valued at $6,491,000 after acquiring an additional 2,937 shares during the last quarter. Finally, Wrapmanager Inc. increased its stake in shares of Procter & Gamble by 9.0% during the 3rd quarter. Wrapmanager Inc. now owns 11,274 shares of the company’s stock valued at $1,953,000 after acquiring an additional 932 shares during the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, CFO Andre Schulten sold 13,041 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $170.00, for a total value of $2,216,970.00. Following the sale, the chief financial officer now directly owns 37,208 shares of the company’s stock, valued at $6,325,360. This trade represents a 25.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Susan Street Whaley sold 634 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total value of $108,826.10. Following the completion of the sale, the insider now directly owns 19,341 shares in the company, valued at $3,319,882.65. This represents a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 270,727 shares of company stock valued at $46,014,037. Corporate insiders own 0.18% of the company’s stock.

Procter & Gamble Stock Performance

Procter & Gamble stock opened at $170.80 on Tuesday. The stock has a market cap of $402.24 billion, a P/E ratio of 29.45, a price-to-earnings-growth ratio of 3.67 and a beta of 0.42. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The stock has a 50 day moving average of $170.21 and a 200-day moving average of $168.45. The Procter & Gamble Company has a 52 week low of $142.50 and a 52 week high of $177.94.

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

Procter & Gamble Dividend Announcement

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. This represents a $4.03 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Friday, October 18th. Procter & Gamble’s dividend payout ratio is currently 69.48%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PG. 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 note on Thursday, August 29th. Dbs Bank cut Procter & Gamble from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. StockNews.com cut Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Hsbc Global Res upgraded Procter & Gamble to a “strong-buy” rating in a report on Friday, October 4th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $164.00 target price on shares of Procter & Gamble in a report on Monday, October 21st. Nine analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $177.00.

Procter & Gamble Profile

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.