Morton Capital Management LLC CA Reduces Holdings in The Procter & Gamble Company (NYSE:PG)

Morton Capital Management LLC CA lessened its stake in The Procter & Gamble Company (NYSE:PG) by 7.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,515 shares of the company’s stock after selling 598 shares during the period. Morton Capital Management LLC CA’s holdings in Procter & Gamble were worth $1,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new position in Procter & Gamble in the 2nd quarter valued at about $28,000. RPg Family Wealth Advisory LLC acquired a new position in Procter & Gamble in the 3rd quarter valued at $33,000. Quest Partners LLC purchased a new position in Procter & Gamble during the 2nd quarter worth $36,000. Costello Asset Management INC boosted its holdings in shares of Procter & Gamble by 2,142.9% in the third quarter. Costello Asset Management INC now owns 314 shares of the company’s stock valued at $54,000 after acquiring an additional 300 shares in the last quarter. Finally, William B. Walkup & Associates Inc. purchased a new stake in Procter & Gamble in the 2nd quarter valued at approximately $58,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Insider Buying and Selling

In related news, CEO Gary A. Coombe sold 47,847 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $179.84, for a total transaction of $8,604,804.48. Following the completion of the transaction, the chief executive officer now directly owns 39,977 shares of the company’s stock, valued at approximately $7,189,463.68. This represents a 54.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO R. Alexandra Keith sold 1,992 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $170.00, for a total value of $338,640.00. Following the completion of the transaction, the chief executive officer now owns 13,783 shares of the company’s stock, valued at approximately $2,343,110. This represents a 12.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 75,439 shares of company stock worth $13,317,460 over the last ninety days. Company insiders own 0.18% of the company’s stock.

Procter & Gamble Stock Up 0.5 %

Shares of PG opened at $161.35 on Friday. The firm has a market capitalization of $379.98 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 3.41 and a beta of 0.45. The Procter & Gamble Company has a 52 week low of $146.28 and a 52 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 0.75. The business’s fifty day moving average price is $169.32 and its two-hundred day moving average price is $169.39.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Friday, October 18th. The company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The firm had revenue of $21.74 billion during the quarter, compared to analyst estimates of $21.99 billion. During the same period last year, the company earned $1.83 earnings per share. The company’s revenue was down .6% on a year-over-year basis. On average, analysts predict that The Procter & Gamble Company will post 6.93 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th will be issued a dividend of $1.0065 per share. The ex-dividend date of this dividend is Friday, January 24th. This represents a $4.03 annualized dividend and a yield of 2.50%. Procter & Gamble’s dividend payout ratio (DPR) is currently 69.48%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Hsbc Global Res raised Procter & Gamble to a “strong-buy” rating in a report on Friday, October 4th. Barclays reduced their price target on shares of Procter & Gamble from $163.00 to $155.00 and set an “equal weight” rating for the company in a research report on Friday. Piper Sandler initiated coverage on Procter & Gamble in a report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price target on the stock. Wells Fargo & Company reduced their price objective on Procter & Gamble from $190.00 to $176.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Finally, DA Davidson reiterated a “buy” rating and issued a $209.00 price objective on shares of Procter & Gamble in a research report on Friday, December 27th. Eight research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $179.65.

Procter & Gamble 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.