Palumbo Wealth Management LLC Sells 396 Shares of The Procter & Gamble Company (NYSE:PG)

Palumbo Wealth Management LLC lessened its holdings in The Procter & Gamble Company (NYSE:PG) by 3.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,931 shares of the company’s stock after selling 396 shares during the quarter. Palumbo Wealth Management LLC’s holdings in Procter & Gamble were worth $1,665,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Concurrent Investment Advisors LLC raised its position in Procter & Gamble by 4.5% during the third quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock worth $16,300,000 after acquiring an additional 4,035 shares in the last quarter. Copley Financial Group Inc. bought a new stake in Procter & Gamble during the third quarter worth $668,000. Fortem Financial Group LLC bought a new stake in Procter & Gamble during the fourth quarter worth $569,000. Richard C. Young & CO. LTD. raised its position in Procter & Gamble by 2.1% during the fourth quarter. Richard C. Young & CO. LTD. now owns 123,853 shares of the company’s stock worth $20,764,000 after acquiring an additional 2,568 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in Procter & Gamble by 7.5% during the fourth quarter. Nordea Investment Management AB now owns 2,898,569 shares of the company’s stock worth $484,583,000 after acquiring an additional 201,695 shares in the last quarter. Institutional investors own 65.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PG shares. JPMorgan Chase & Co. dropped their price target on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. DA Davidson reaffirmed a “buy” rating and set a $209.00 price target on shares of Procter & Gamble in a research report on Thursday, January 23rd. UBS Group dropped their price target on shares of Procter & Gamble from $196.00 to $189.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Morgan Stanley upped their price objective on shares of Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, Barclays upped their price objective on shares of Procter & Gamble from $155.00 to $159.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $180.53.

Procter & Gamble Trading Down 4.8 %

PG stock opened at $162.84 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76. The company’s 50-day simple moving average is $166.51 and its 200 day simple moving average is $169.40. The Procter & Gamble Company has a 52 week low of $153.52 and a 52 week high of $180.43. The company has a market capitalization of $381.84 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 3.79 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. The firm had revenue of $21.88 billion for the quarter, compared to the consensus estimate of $21.66 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.84 earnings per share. As a group, sell-side analysts anticipate that The Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th will be paid a dividend of $1.0065 per share. The ex-dividend date is Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a yield of 2.47%. Procter & Gamble’s payout ratio is 64.17%.

Insiders Place Their Bets

In other news, insider Marc S. Pritchard sold 90,450 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total value of $14,819,328.00. Following the completion of the transaction, the insider now owns 172,814 shares of the company’s stock, valued at approximately $28,313,845.76. This represents a 34.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Balaji Purushothaman sold 12,800 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $172.73, for a total transaction of $2,210,944.00. Following the completion of the transaction, the insider now directly owns 11,595 shares of the company’s stock, valued at $2,002,804.35. This trade represents a 52.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 151,097 shares of company stock worth $25,635,076 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.

Procter & Gamble Company 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.