Klingman & Associates LLC Sells 298 Shares of The Procter & Gamble Company (NYSE:PG)

Klingman & Associates LLC decreased its position in The Procter & Gamble Company (NYSE:PG) by 3.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,578 shares of the company’s stock after selling 298 shares during the quarter. Klingman & Associates LLC’s holdings in Procter & Gamble were worth $1,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in Procter & Gamble in the fourth quarter valued at approximately $3,956,117,000. Cerity Partners LLC lifted its position in Procter & Gamble by 106.2% in the fourth quarter. Cerity Partners LLC now owns 6,134,455 shares of the company’s stock valued at $898,943,000 after purchasing an additional 3,159,796 shares during the last quarter. Wellington Management Group LLP lifted its position in Procter & Gamble by 9.4% in the third quarter. Wellington Management Group LLP now owns 35,608,913 shares of the company’s stock valued at $5,193,916,000 after purchasing an additional 3,047,557 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Procter & Gamble by 13,850.3% during the fourth quarter. International Assets Investment Management LLC now owns 2,747,379 shares of the company’s stock valued at $402,601,000 after acquiring an additional 2,727,685 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Procter & Gamble by 235.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,231,032 shares of the company’s stock worth $473,475,000 after acquiring an additional 2,268,805 shares during the period. Institutional investors own 65.77% of the company’s stock.

Insiders Place Their Bets

In other Procter & Gamble news, CEO R. Alexandra Keith sold 855 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $158.50, for a total value of $135,517.50. Following the transaction, the chief executive officer now directly owns 4,004 shares of the company’s stock, valued at $634,634. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Balaji Purushothaman sold 28,369 shares of Procter & Gamble stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $161.49, for a total transaction of $4,581,309.81. Following the transaction, the insider now directly owns 11,507 shares of the company’s stock, valued at approximately $1,858,265.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO R. Alexandra Keith sold 855 shares of Procter & Gamble stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $158.50, for a total value of $135,517.50. Following the transaction, the chief executive officer now directly owns 4,004 shares in the company, valued at $634,634. The disclosure for this sale can be found here. Over the last three months, insiders have sold 154,544 shares of company stock valued at $25,413,051. Insiders own 0.17% of the company’s stock.

Procter & Gamble Stock Performance

NYSE PG traded up $1.38 during trading hours on Friday, hitting $165.21. The company’s stock had a trading volume of 6,509,248 shares, compared to its average volume of 5,655,382. The Procter & Gamble Company has a 12 month low of $141.45 and a 12 month high of $169.41. The company’s 50 day simple moving average is $165.82 and its two-hundred day simple moving average is $159.35. The company has a market cap of $389.92 billion, a P/E ratio of 27.00, a price-to-earnings-growth ratio of 3.13 and a beta of 0.41. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.69 and a quick ratio of 0.48.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Friday, April 19th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.42 by $0.10. Procter & Gamble had a return on equity of 33.91% and a net margin of 18.00%. The company had revenue of $20.20 billion during the quarter, compared to the consensus estimate of $20.43 billion. During the same period last year, the company earned $1.37 EPS. Procter & Gamble’s revenue for the quarter was up .6% on a year-over-year basis. As a group, sell-side analysts expect that The Procter & Gamble Company will post 6.55 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th were given a $1.0065 dividend. This represents a $4.03 annualized dividend and a yield of 2.44%. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.94. The ex-dividend date was Thursday, April 18th. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.85%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PG. Deutsche Bank Aktiengesellschaft dropped their price target on Procter & Gamble from $172.00 to $171.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. BNP Paribas began coverage on Procter & Gamble in a research note on Monday, June 24th. They issued an “outperform” rating and a $187.00 price target for the company. Jefferies Financial Group raised their price target on Procter & Gamble from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Truist Financial raised Procter & Gamble from a “hold” rating to a “buy” rating and raised their price target for the stock from $160.00 to $175.00 in a research note on Monday, March 11th. Finally, Barclays increased their price objective on Procter & Gamble from $168.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, April 23rd. Six research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $170.72.

Procter & Gamble Profile

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.