DoubleLine ETF Adviser LP Trims Position in The Procter & Gamble Company (NYSE:PG)

DoubleLine ETF Adviser LP trimmed its holdings in shares of The Procter & Gamble Company (NYSE:PG - Free Report) by 22.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 56,106 shares of the company's stock after selling 16,705 shares during the period. Procter & Gamble makes up 2.5% of DoubleLine ETF Adviser LP's investment portfolio, making the stock its 5th largest holding. DoubleLine ETF Adviser LP's holdings in Procter & Gamble were worth $9,406,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Wahed Invest LLC boosted its holdings in Procter & Gamble by 6.5% in the fourth quarter. Wahed Invest LLC now owns 60,747 shares of the company's stock worth $10,184,000 after acquiring an additional 3,726 shares in the last quarter. Pennington Partners & CO. LLC bought a new stake in Procter & Gamble during the 4th quarter valued at $624,000. Hutner Capital Management Inc. lifted its stake in shares of Procter & Gamble by 10.7% in the fourth quarter. Hutner Capital Management Inc. now owns 53,210 shares of the company's stock valued at $8,921,000 after buying an additional 5,152 shares in the last quarter. South Plains Financial Inc. acquired a new position in shares of Procter & Gamble during the fourth quarter valued at about $1,510,000. Finally, Blue Rock Wealth Management LLC bought a new stake in shares of Procter & Gamble during the fourth quarter worth about $243,000. Institutional investors and hedge funds own 65.77% of the company's stock.

Analyst Upgrades and Downgrades

PG has been the subject of a number of recent research reports. Barclays reissued an "equal weight" rating on shares of Procter & Gamble in a report on Thursday, March 27th. DA Davidson reissued a "buy" rating and issued a $209.00 price target on shares of Procter & Gamble in a research report on Thursday, January 23rd. Piper Sandler reaffirmed an "underperform" rating on shares of Procter & Gamble in a report on Friday, April 25th. Bank of America dropped their price target on shares of Procter & Gamble from $190.00 to $180.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Finally, Erste Group Bank downgraded shares of Procter & Gamble from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $179.80.

Procter & Gamble Price Performance

Shares of Procter & Gamble stock traded up $0.61 on Friday, reaching $160.59. The stock had a trading volume of 5,744,311 shares, compared to its average volume of 7,164,051. The business's 50 day moving average is $167.36 and its two-hundred day moving average is $167.96. The company has a market cap of $376.51 billion, a P/E ratio of 25.57, a price-to-earnings-growth ratio of 3.76 and a beta of 0.43. The Procter & Gamble Company has a 1 year low of $156.58 and a 1 year high of $180.43. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50.

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, topping the consensus estimate of $1.53 by $0.01. The firm had revenue of $19.78 billion for the quarter, compared to analysts' expectations of $20.42 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The business's quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.52 earnings per share. As a group, research analysts anticipate that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, April 21st will be issued a dividend of $1.0568 per share. This is a positive change from Procter & Gamble's previous quarterly dividend of $1.01. The ex-dividend date of this dividend is Monday, April 21st. This represents a $4.23 annualized dividend and a dividend yield of 2.63%. Procter & Gamble's payout ratio is presently 66.98%.

Insider Buying and Selling

In other news, CEO Gary A. Coombe sold 35,000 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $173.68, for a total value of $6,078,800.00. Following the transaction, the chief executive officer now owns 22,051 shares of the company's stock, valued at $3,829,817.68. This represents a 61.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jennifer L. Davis sold 1,000 shares of Procter & Gamble stock in a transaction 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. This represents a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,000 shares of company stock worth $9,330,060. 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.