Sagespring Wealth Partners LLC Reduces Holdings in Procter & Gamble Company (The) $PG

Sagespring Wealth Partners LLC reduced its position in Procter & Gamble Company (The) (NYSE:PG) by 18.8% in the 4th quarter, Holdings Channel reports. The firm owned 38,780 shares of the company’s stock after selling 8,981 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in Procter & Gamble were worth $5,558,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Procter & Gamble by 0.6% in the third quarter. Vanguard Group Inc. now owns 234,630,605 shares of the company’s stock valued at $36,050,992,000 after buying an additional 1,419,322 shares during the last quarter. State Street Corp boosted its position in Procter & Gamble by 0.4% during the third quarter. State Street Corp now owns 100,634,824 shares of the company’s stock worth $15,462,541,000 after acquiring an additional 370,872 shares during the last quarter. Norges Bank purchased a new stake in Procter & Gamble during the 2nd quarter valued at about $5,099,644,000. Franklin Resources Inc. grew its stake in Procter & Gamble by 8.3% during the 3rd quarter. Franklin Resources Inc. now owns 22,850,345 shares of the company’s stock valued at $3,510,955,000 after acquiring an additional 1,752,481 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Procter & Gamble by 1.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 17,385,571 shares of the company’s stock valued at $2,770,035,000 after acquiring an additional 294,673 shares during the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

Insider Buying and Selling

In other news, CEO Gary A. Coombe sold 36,093 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $162.33, for a total value of $5,858,976.69. Following the sale, the chief executive officer directly owned 34,994 shares of the company’s stock, valued at approximately $5,680,576.02. The trade was a 50.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Moses Victor Javier Aguilar sold 15,169 shares of the stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $162.28, for a total transaction of $2,461,625.32. Following the transaction, the insider directly owned 44,735 shares of the company’s stock, valued at $7,259,595.80. The trade was a 25.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 348,618 shares of company stock valued at $55,462,643 over the last three months. Company insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

PG has been the topic of several recent research reports. TD Cowen cut Procter & Gamble from a “buy” rating to a “hold” rating and boosted their target price for the stock from $150.00 to $156.00 in a report on Tuesday, January 27th. Jefferies Financial Group upgraded Procter & Gamble from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $156.00 to $179.00 in a research report on Tuesday, December 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Procter & Gamble in a research note on Monday, December 29th. Wells Fargo & Company restated an “overweight” rating and issued a $177.00 target price on shares of Procter & Gamble in a report on Tuesday, February 17th. Finally, BNP Paribas Exane reduced their price target on Procter & Gamble from $172.00 to $164.00 and set an “outperform” rating on the stock in a report on Friday, January 16th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $168.33.

Procter & Gamble Trading Down 0.3%

Shares of Procter & Gamble stock opened at $144.41 on Friday. The stock has a 50 day moving average of $154.07 and a 200 day moving average of $150.73. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.51 and a current ratio of 0.72. The firm has a market capitalization of $335.61 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 4.84 and a beta of 0.37. Procter & Gamble Company has a fifty-two week low of $137.62 and a fifty-two week high of $174.80.

Procter & Gamble (NYSE:PG) last posted its earnings results on Friday, January 23rd. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.02. The company had revenue of $22.21 billion for the quarter, compared to the consensus estimate of $22.36 billion. Procter & Gamble had a return on equity of 32.21% and a net margin of 19.30%.The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.88 earnings per share. As a group, research analysts predict that Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Friday, January 23rd were issued a $1.0568 dividend. This represents a $4.23 annualized dividend and a yield of 2.9%. The ex-dividend date was Friday, January 23rd. Procter & Gamble’s payout ratio is 62.67%.

About Procter & Gamble

Procter & Gamble (NYSE: PG) is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world’s largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.

P&G’s product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.