Fayez Sarofim & Co Sells 92,421 Shares of Procter & Gamble Company (The) $PG

Fayez Sarofim & Co trimmed its position in Procter & Gamble Company (The) (NYSE:PG) by 2.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,517,312 shares of the company’s stock after selling 92,421 shares during the quarter. Procter & Gamble accounts for 1.6% of Fayez Sarofim & Co’s holdings, making the stock its 17th largest holding. Fayez Sarofim & Co owned 0.19% of Procter & Gamble worth $696,361,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of PG. Norges Bank bought a new stake in shares of Procter & Gamble during the 2nd quarter worth $5,099,644,000. Laurel Wealth Advisors LLC boosted its stake in shares of Procter & Gamble by 15,971.7% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 7,012,744 shares of the company’s stock valued at $1,117,270,000 after purchasing an additional 6,969,110 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Procter & Gamble by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 233,211,283 shares of the company’s stock valued at $37,155,222,000 after purchasing an additional 3,189,111 shares during the last quarter. Invesco Ltd. increased its position in Procter & Gamble by 21.4% during the 2nd quarter. Invesco Ltd. now owns 16,374,499 shares of the company’s stock worth $2,608,785,000 after purchasing an additional 2,880,895 shares in the last quarter. Finally, Amundi increased its position in Procter & Gamble by 26.3% during the 3rd quarter. Amundi now owns 10,682,455 shares of the company’s stock worth $1,606,748,000 after purchasing an additional 2,222,560 shares in the last quarter. Institutional investors own 65.77% of the company’s stock.

Insider Buying and Selling

In related news, CEO Gary A. Coombe sold 36,093 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $162.33, for a total value of $5,858,976.69. Following the sale, the chief executive officer directly owned 34,994 shares in the company, valued at $5,680,576.02. This represents a 50.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Jon R. Moeller sold 162,232 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $162.45, for a total transaction of $26,354,588.40. Following the sale, the chairman directly owned 319,385 shares of the company’s stock, valued at $51,884,093.25. This represents a 33.68% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 348,618 shares of company stock valued at $55,462,643. Corporate insiders own 0.20% of the company’s stock.

Procter & Gamble Price Performance

PG stock opened at $150.57 on Monday. The company has a market capitalization of $349.91 billion, a P/E ratio of 22.31, a PEG ratio of 5.04 and a beta of 0.37. The company has a fifty day moving average price of $153.32 and a 200-day moving average price of $150.96. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.51 and a current ratio of 0.72. Procter & Gamble Company has a 52-week low of $137.62 and a 52-week high of $174.80.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Friday, January 23rd. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.02. The company had revenue of $22.21 billion for the quarter, compared to analysts’ expectations of $22.36 billion. Procter & Gamble had a net margin of 19.30% and a return on equity of 32.21%. Procter & Gamble’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.88 earnings per share. As a group, equities analysts expect that Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Friday, January 23rd were given a $1.0568 dividend. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, January 23rd. Procter & Gamble’s payout ratio is 62.67%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. BNP Paribas Exane cut their target price on shares of Procter & Gamble from $172.00 to $164.00 and set an “outperform” rating on the stock in a research report on Friday, January 16th. Erste Group Bank upgraded Procter & Gamble from a “hold” rating to a “buy” rating in a research note on Wednesday, February 18th. Dbs Bank raised Procter & Gamble from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Jefferies Financial Group upgraded Procter & Gamble from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $156.00 to $179.00 in a research report on Tuesday, December 16th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Procter & Gamble from $176.00 to $171.00 and set a “buy” rating for the company in a report on Monday, December 8th. Fourteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $168.33.

Procter & Gamble Company Profile

Procter & Gamble (NYSE: PG) is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world’s largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.

P&G’s product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.