The Procter & Gamble Company (NYSE:PG) Shares Sold by Summit Asset Management LLC

Summit Asset Management LLC decreased its holdings in The Procter & Gamble Company (NYSE:PG) by 0.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,929 shares of the company’s stock after selling 83 shares during the quarter. Procter & Gamble accounts for about 0.8% of Summit Asset Management LLC’s holdings, making the stock its 22nd largest holding. Summit Asset Management LLC’s holdings in Procter & Gamble were worth $3,360,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Wyrmwood Management LLC purchased a new position in shares of Procter & Gamble during the fourth quarter worth $29,000. Naples Money Management LLC acquired a new stake in shares of Procter & Gamble in the fourth quarter valued at $29,000. Criterion Capital Advisors LLC acquired a new stake in Procter & Gamble in the fourth quarter valued at $33,000. Mendota Financial Group LLC raised its stake in Procter & Gamble by 636.6% in the fourth quarter. Mendota Financial Group LLC now owns 302 shares of the company’s stock valued at $44,000 after buying an additional 261 shares in the last quarter. Finally, DiNuzzo Private Wealth Inc. acquired a new stake in shares of Procter & Gamble during the fourth quarter worth about $56,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PG shares. StockNews.com lowered Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Truist Financial upgraded Procter & Gamble from a “hold” rating to a “buy” rating and boosted their price target for the company from $160.00 to $175.00 in a report on Monday, March 11th. Jefferies Financial Group boosted their price objective on shares of Procter & Gamble from $175.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Wells Fargo & Company upped their price target on shares of Procter & Gamble from $162.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Finally, Argus upped their price objective on shares of Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Procter & Gamble currently has a consensus rating of “Moderate Buy” and a consensus price target of $169.76.

Insider Activity

In other Procter & Gamble news, CEO Gary A. Coombe sold 22,000 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $161.32, for a total transaction of $3,549,040.00. Following the completion of the sale, the chief executive officer now directly owns 36,845 shares in the company, valued at approximately $5,943,835.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Gary A. Coombe sold 22,000 shares of Procter & Gamble stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $161.32, for a total value of $3,549,040.00. Following the sale, the chief executive officer now owns 36,845 shares of the company’s stock, valued at approximately $5,943,835.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Shailesh Jejurikar sold 31,000 shares of Procter & Gamble stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $162.90, for a total transaction of $5,049,900.00. Following the completion of the transaction, the chief operating officer now owns 9,739 shares of the company’s stock, valued at $1,586,483.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,865 shares of company stock worth $14,059,180. Insiders own 0.17% of the company’s stock.

Procter & Gamble Price Performance

NYSE:PG traded up $0.59 on Thursday, reaching $163.99. The stock had a trading volume of 2,138,617 shares, compared to its average volume of 6,891,378. The Procter & Gamble Company has a 1-year low of $141.45 and a 1-year high of $164.32. The stock has a fifty day moving average price of $159.88 and a 200-day moving average price of $153.97. The company has a market capitalization of $387.04 billion, a P/E ratio of 26.75, a price-to-earnings-growth ratio of 3.31 and a beta of 0.43. The company has a quick ratio of 0.48, a current ratio of 0.69 and a debt-to-equity ratio of 0.49.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Friday, April 19th. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.10. The company had revenue of $20.20 billion during the quarter, compared to the consensus estimate of $20.43 billion. Procter & Gamble had a net margin of 18.00% and a return on equity of 33.91%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.37 earnings per share. Research analysts forecast that The Procter & Gamble Company will post 6.55 EPS for the current year.

Procter & Gamble Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be paid a dividend of $1.0065 per share. The ex-dividend date of this dividend is Thursday, April 18th. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.94. This represents a $4.03 annualized dividend and a yield of 2.46%. Procter & Gamble’s dividend payout ratio is presently 65.85%.

About Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.