Channel Wealth LLC Lowers Holdings in The Procter & Gamble Company (NYSE:PG)

Channel Wealth LLC lessened its stake in The Procter & Gamble Company (NYSE:PG) by 10.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 14,393 shares of the company’s stock after selling 1,717 shares during the period. Channel Wealth LLC’s holdings in Procter & Gamble were worth $2,413,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in shares of Procter & Gamble by 7.0% in the 3rd quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock valued at $9,538,327,000 after purchasing an additional 3,619,466 shares in the last quarter. FMR LLC increased its position in shares of Procter & Gamble by 2.7% in the third quarter. FMR LLC now owns 26,556,319 shares of the company’s stock valued at $4,599,554,000 after buying an additional 689,282 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Procter & Gamble by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 21,632,054 shares of the company’s stock worth $3,567,556,000 after buying an additional 122,190 shares during the period. Franklin Resources Inc. grew its stake in Procter & Gamble by 10.2% in the 3rd quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock valued at $3,290,573,000 after acquiring an additional 1,760,214 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in Procter & Gamble by 4.7% in the 3rd quarter. Fisher Asset Management LLC now owns 18,380,610 shares of the company’s stock worth $3,183,522,000 after acquiring an additional 830,476 shares in the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Gary A. Coombe sold 47,847 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $179.84, for a total value of $8,604,804.48. Following the completion of the transaction, the chief executive officer now owns 39,977 shares in the company, valued at approximately $7,189,463.68. This represents a 54.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Balaji Purushothaman sold 12,800 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the completion of the sale, the insider now directly owns 11,566 shares of the company’s stock, valued at approximately $1,954,538.34. This trade represents a 52.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 75,439 shares of company stock worth $13,317,460. Corporate insiders own 0.18% of the company’s stock.

Procter & Gamble Trading Up 0.5 %

NYSE:PG opened at $161.35 on Friday. The stock has a fifty day moving average price of $169.32 and a 200 day moving average price of $169.39. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a 12-month low of $146.28 and a 12-month high of $180.43. The firm has a market cap of $379.98 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 3.41 and a beta of 0.45.

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

Procter & Gamble Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on PG. Hsbc Global Res upgraded shares of Procter & Gamble to a “strong-buy” rating in a research report on Friday, October 4th. Wells Fargo & Company cut their price objective on Procter & Gamble from $190.00 to $176.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. JPMorgan Chase & Co. decreased their target price on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a research report on Thursday. Stifel Nicolaus dropped their price target on Procter & Gamble from $167.00 to $161.00 and set a “hold” rating for the company in a research report on Friday. Finally, DA Davidson restated a “buy” rating and issued a $209.00 price objective on shares of Procter & Gamble in a 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.