Allspring Global Investments Holdings LLC Sells 37,182 Shares of Procter & Gamble Company (The) (NYSE:PG)

Allspring Global Investments Holdings LLC reduced its position in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 10.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 306,249 shares of the company's stock after selling 37,182 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Procter & Gamble were worth $52,234,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Unique Wealth LLC lifted its holdings in shares of Procter & Gamble by 2.9% in the first quarter. Unique Wealth LLC now owns 2,141 shares of the company's stock valued at $365,000 after purchasing an additional 61 shares in the last quarter. Stableford Capital II LLC lifted its holdings in shares of Procter & Gamble by 1.1% in the first quarter. Stableford Capital II LLC now owns 5,817 shares of the company's stock valued at $993,000 after purchasing an additional 61 shares in the last quarter. Bernard Wealth Management Corp. lifted its holdings in shares of Procter & Gamble by 20.2% in the first quarter. Bernard Wealth Management Corp. now owns 375 shares of the company's stock valued at $64,000 after purchasing an additional 63 shares in the last quarter. Kolinsky Wealth Management LLC lifted its holdings in shares of Procter & Gamble by 1.1% in the fourth quarter. Kolinsky Wealth Management LLC now owns 5,738 shares of the company's stock valued at $962,000 after purchasing an additional 64 shares in the last quarter. Finally, Retirement Planning Group LLC lifted its holdings in shares of Procter & Gamble by 1.4% in the fourth quarter. Retirement Planning Group LLC now owns 4,704 shares of the company's stock valued at $789,000 after purchasing an additional 64 shares in the last quarter. 65.77% of the stock is owned by institutional investors.

Procter & Gamble Price Performance

Shares of Procter & Gamble stock opened at $160.00 on Monday. The stock's 50-day simple moving average is $162.44 and its 200-day simple moving average is $165.58. Procter & Gamble Company has a 52 week low of $156.58 and a 52 week high of $180.43. The company has a market capitalization of $375.11 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 4.71 and a beta of 0.43. The company has a quick ratio of 0.50, a current ratio of 0.71 and a debt-to-equity ratio of 0.47.

Procter & Gamble (NYSE:PG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.53 by $0.01. The business had revenue of $19.78 billion for the quarter, compared to the consensus estimate of $20.42 billion. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.46%. The business's revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.52 earnings per share. As a group, analysts expect that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, April 21st were given a $1.0568 dividend. This is an increase from Procter & Gamble's previous quarterly dividend of $1.01. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date was Monday, April 21st. Procter & Gamble's payout ratio is currently 67.14%.

Insider Buying and Selling

In other Procter & Gamble news, CEO Jennifer L. Davis sold 1,000 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total transaction of $161,380.00. Following the sale, the chief executive officer now directly owns 51,965 shares of the company's stock, valued at $8,386,111.70. The trade was a 1.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $158.67, for a total value of $1,669,208.40. Following the sale, the insider now directly owns 25,182 shares in the company, valued at $3,995,627.94. The trade was a 29.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PG has been the subject of a number of research analyst reports. Redburn Atlantic downgraded Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 price target for the company. in a research report on Thursday, May 1st. Truist Financial decreased their price target on Procter & Gamble from $185.00 to $180.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Bank of America decreased their price target on Procter & Gamble from $190.00 to $180.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Erste Group Bank downgraded Procter & Gamble from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Finally, Evercore ISI reaffirmed an "outperform" rating and set a $190.00 price target (up from $170.00) on shares of Procter & Gamble in a research report on Tuesday, June 3rd. Eight equities 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. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $178.45.

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.

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