Procter & Gamble Company (The) (NYSE:PG) Shares Sold by Summit Wealth Partners LLC

Summit Wealth Partners LLC lessened its holdings in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 17.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 74,573 shares of the company's stock after selling 15,919 shares during the quarter. Procter & Gamble comprises 2.6% of Summit Wealth Partners LLC's portfolio, making the stock its 10th largest position. Summit Wealth Partners LLC's holdings in Procter & Gamble were worth $12,709,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Navigoe LLC purchased a new position in shares of Procter & Gamble during the 4th quarter valued at $31,000. Capital A Wealth Management LLC acquired a new stake in Procter & Gamble in the fourth quarter worth about $31,000. Hoey Investments Inc. lifted its holdings in shares of Procter & Gamble by 321.7% during the fourth 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 acquired a new position in shares of Procter & Gamble in the 4th quarter valued at about $34,000. Finally, Sunbeam Capital Management LLC acquired a new position in shares of Procter & Gamble in the fourth quarter worth about $34,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on PG. UBS Group cut their price objective on Procter & Gamble from $186.00 to $180.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Truist Financial cut their price objective on Procter & Gamble from $185.00 to $180.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Barclays lifted their price target 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. Royal Bank Of Canada raised shares of Procter & Gamble from a "sector perform" rating to an "outperform" rating and raised their price objective for the stock from $164.00 to $177.00 in a report on Friday, April 25th. Finally, Morgan Stanley set a $180.00 price target on Procter & Gamble and gave the stock an "overweight" rating 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Procter & Gamble presently has an average rating of "Moderate Buy" and an average target price of $176.12.

Procter & Gamble Trading Down 0.3%

PG traded down $0.53 during trading on Friday, hitting $158.28. 5,799,309 shares of the company's stock were exchanged, compared to its average volume of 8,221,526. The stock has a 50 day moving average price of $161.12 and a 200 day moving average price of $164.24. The company has a current ratio of 0.71, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47. Procter & Gamble Company has a 1 year low of $151.90 and a 1 year high of $180.43. The firm has a market cap of $371.10 billion, a P/E ratio of 25.12, a price-to-earnings-growth ratio of 4.51 and a beta of 0.40.

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

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be given a dividend of $1.0568 per share. 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 payout ratio is 67.14%.

Insider Buying and Selling

In related news, CEO Jennifer L. Davis sold 1,000 shares of Procter & Gamble stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total value of $161,380.00. Following the sale, the chief executive officer directly owned 51,965 shares in the company, valued at $8,386,111.70. This trade represents a 1.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction, the insider owned 25,182 shares of the company's stock, valued at approximately $3,995,627.94. This represents 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 currently owned by insiders.

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.