Carnegie Investment Counsel Raises Stock Holdings in The Procter & Gamble Company (NYSE:PG)

Carnegie Investment Counsel lifted its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 1.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,927 shares of the company’s stock after acquiring an additional 899 shares during the quarter. Carnegie Investment Counsel’s holdings in Procter & Gamble were worth $9,879,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Fiera Capital Corp increased its position in Procter & Gamble by 1,135.1% in the second quarter. Fiera Capital Corp now owns 20,688 shares of the company’s stock worth $3,412,000 after buying an additional 19,013 shares during the last quarter. Quest Partners LLC purchased a new stake in Procter & Gamble in the second quarter worth $36,000. Cowa LLC increased its position in Procter & Gamble by 8.2% in the second quarter. Cowa LLC now owns 2,646 shares of the company’s stock worth $436,000 after buying an additional 200 shares during the last quarter. Brighton Jones LLC increased its position in Procter & Gamble by 3.0% in the second quarter. Brighton Jones LLC now owns 29,006 shares of the company’s stock worth $4,784,000 after buying an additional 838 shares during the last quarter. Finally, Ieq Capital LLC increased its position in Procter & Gamble by 13.2% in the second quarter. Ieq Capital LLC now owns 131,962 shares of the company’s stock worth $21,763,000 after buying an additional 15,337 shares during the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

Procter & Gamble Stock Performance

Shares of PG opened at $161.35 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50. The business’s 50 day moving average price is $169.32 and its 200-day moving average price is $169.39. The Procter & Gamble Company has a 52 week low of $146.28 and a 52 week high of $180.43. The stock has a market cap of $379.98 billion, a P/E ratio of 27.82, a P/E/G ratio of 3.41 and a beta of 0.45.

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

Procter & Gamble Announces Dividend

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

Analyst Ratings Changes

A number of research firms have issued reports on PG. Stifel Nicolaus decreased their target price on Procter & Gamble from $167.00 to $161.00 and set a “hold” rating for the company in a research report on Friday. Wells Fargo & Company reduced their price target on Procter & Gamble from $190.00 to $176.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $164.00 price target on shares of Procter & Gamble in a research report on Monday, October 21st. Piper Sandler initiated coverage on Procter & Gamble in a research report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price target for the company. Finally, UBS Group reduced their price target on Procter & Gamble from $196.00 to $189.00 and set a “buy” rating for the company in a research report on Thursday. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $179.65.

Insider Activity at Procter & Gamble

In other news, CEO R. Alexandra Keith sold 1,992 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $170.00, for a total value of $338,640.00. Following the completion of the sale, the chief executive officer now directly owns 13,783 shares in the company, valued at $2,343,110. This represents a 12.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Balaji Purushothaman sold 12,800 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $168.99, for a total value of $2,163,072.00. Following the completion of the sale, the insider now owns 11,566 shares of the company’s stock, valued at $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. In the last three months, insiders have sold 75,439 shares of company stock valued at $13,317,460. 0.18% of the stock is owned by corporate insiders.

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.