Navellier & Associates Inc. Sells 2,268 Shares of Procter & Gamble Company (The) (NYSE:PG)

Key Points

• Navellier & Associates Inc. reduced its stake in Procter & Gamble by 10.8%, owning 18,639 shares valued at approximately $2.96 million after selling 2,268 shares during the first quarter.
• Procter & Gamble's stock has experienced a 0.3% decline to $158.28, and the company reported a net margin of 18.46% and earnings of $1.54 per share for the last quarter, slightly beating estimates.
• The company announced a quarterly dividend of $1.0568 per share, resulting in an annualized dividend yield of 2.67% and a dividend payout ratio of 67.14%.

Navellier & Associates Inc. lowered its stake in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 10.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,639 shares of the company's stock after selling 2,268 shares during the quarter. Navellier & Associates Inc.'s holdings in Procter & Gamble were worth $2,960,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PG. Navigoe LLC bought a new position in Procter & Gamble during the 4th quarter valued at about $31,000. Capital A Wealth Management LLC bought a new position in Procter & Gamble in the 4th quarter worth about $31,000. Hoey Investments Inc. lifted its position in shares of Procter & Gamble by 321.7% in the 4th quarter. Hoey Investments Inc. now owns 194 shares of the company's stock worth $33,000 after purchasing an additional 148 shares during the period. 10Elms LLP purchased a new stake in shares of Procter & Gamble in the 4th quarter worth approximately $34,000. Finally, Sunbeam Capital Management LLC purchased a new stake in Procter & Gamble during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 65.77% of the company's stock.

Procter & Gamble Stock Down 0.3%

PG traded down $0.53 during trading on Friday, hitting $158.28. The company had a trading volume of 5,799,883 shares, compared to its average volume of 9,070,670. The company has a market cap of $371.10 billion, a PE ratio of 25.12, a P/E/G ratio of 4.52 and a beta of 0.40. Procter & Gamble Company has a 1-year low of $151.90 and a 1-year high of $180.43. The business has a 50-day moving average of $161.02 and a 200-day moving average of $164.22. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.71 and a quick ratio of 0.50.

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

Procter & Gamble Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be paid a $1.0568 dividend. The ex-dividend date is Friday, July 18th. This represents a $4.23 annualized dividend and a dividend yield of 2.67%. Procter & Gamble's dividend payout ratio is currently 67.14%.

Insider Activity at Procter & Gamble

In related news, insider Moses Victor Javier Aguilar sold 10,520 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the completion of the sale, the insider directly owned 25,182 shares in the company, valued at approximately $3,995,627.94. This trade represents a 29.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jennifer L. Davis sold 1,000 shares of Procter & Gamble stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total transaction of $161,380.00. Following the completion of the sale, the chief executive officer owned 51,965 shares of the company's stock, valued at $8,386,111.70. This trade represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PG shares. Piper Sandler upped their price target on shares of Procter & Gamble from $160.00 to $164.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Redburn Atlantic lowered shares of Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 price objective on the stock. in a report on Thursday, May 1st. Barclays upped their target price on shares of Procter & Gamble from $160.00 to $161.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. UBS Group lowered their target price on shares of Procter & Gamble from $186.00 to $180.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Finally, Raymond James Financial cut their price objective on shares of Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Nine equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $176.12.

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.