Provident Wealth Management LLC Sells 625 Shares of The Procter & Gamble Company (NYSE:PG)

Provident Wealth Management LLC lowered its holdings in The Procter & Gamble Company (NYSE:PG) by 2.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,579 shares of the company’s stock after selling 625 shares during the quarter. Procter & Gamble accounts for about 1.3% of Provident Wealth Management LLC’s investment portfolio, making the stock its 15th largest position. Provident Wealth Management LLC’s holdings in Procter & Gamble were worth $3,953,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Concurrent Investment Advisors LLC grew its holdings in shares of Procter & Gamble by 4.5% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock worth $16,300,000 after purchasing an additional 4,035 shares in the last quarter. Strategic Advisors LLC grew its holdings in shares of Procter & Gamble by 3.4% during the 4th quarter. Strategic Advisors LLC now owns 55,912 shares of the company’s stock worth $9,374,000 after purchasing an additional 1,818 shares in the last quarter. Copley Financial Group Inc. acquired a new stake in shares of Procter & Gamble during the 3rd quarter worth approximately $668,000. Fortem Financial Group LLC acquired a new stake in shares of Procter & Gamble during the 4th quarter worth approximately $569,000. Finally, Richard C. Young & CO. LTD. grew its holdings in shares of Procter & Gamble by 2.1% during the 4th quarter. Richard C. Young & CO. LTD. now owns 123,853 shares of the company’s stock worth $20,764,000 after purchasing an additional 2,568 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Stock Up 1.3 %

Shares of Procter & Gamble stock opened at $172.70 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a 12 month low of $153.52 and a 12 month high of $180.43. The business has a fifty day simple moving average of $166.07 and a 200 day simple moving average of $169.46. The stock has a market cap of $404.95 billion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 3.76 and a beta of 0.45.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The business had revenue of $21.88 billion during the quarter, compared to analysts’ expectations of $21.66 billion. During the same period in the previous year, the firm earned $1.84 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. Research analysts predict that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th were paid a $1.0065 dividend. The ex-dividend date was Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a yield of 2.33%. Procter & Gamble’s payout ratio is 64.01%.

Wall Street Analyst Weigh In

Several analysts recently commented on PG shares. UBS Group reaffirmed a “buy” rating on shares of Procter & Gamble in a research note on Monday, February 10th. Wells Fargo & Company boosted their price target on Procter & Gamble from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. DA Davidson reaffirmed a “buy” rating and issued a $209.00 price target on shares of Procter & Gamble in a research note on Thursday, January 23rd. Piper Sandler decreased their price target on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $164.00 price objective on shares of Procter & Gamble in a research report on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Procter & Gamble currently has a consensus rating of “Moderate Buy” and a consensus price target of $180.42.

Insider Buying and Selling at Procter & Gamble

In other news, insider Marc S. Pritchard sold 90,450 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the completion of the transaction, the insider now directly owns 172,814 shares of the company’s stock, valued at $28,313,845.76. This represents a 34.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gary A. Coombe sold 18,000 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $171.66, for a total value of $3,089,880.00. Following the transaction, the chief executive officer now directly owns 22,051 shares of the company’s stock, valued at $3,785,274.66. This represents a 44.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

About Procter & Gamble

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.