Lazard Asset Management LLC Sells 550,619 Shares of The Procter & Gamble Company (NYSE:PG)

Lazard Asset Management LLC cut its stake in The Procter & Gamble Company (NYSE:PG - Free Report) by 14.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,247,054 shares of the company's stock after selling 550,619 shares during the period. Lazard Asset Management LLC owned about 0.14% of Procter & Gamble worth $544,366,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Leigh Baldwin & CO. LLC bought a new stake in Procter & Gamble during the 4th quarter worth about $60,667,000. Laraway Financial Advisors Inc grew its stake in shares of Procter & Gamble by 9.5% during the fourth quarter. Laraway Financial Advisors Inc now owns 3,580 shares of the company's stock worth $600,000 after purchasing an additional 310 shares during the period. LifePlan Investment Advisors Inc. grew its position in shares of Procter & Gamble by 14.9% during the 4th quarter. LifePlan Investment Advisors Inc. now owns 1,576 shares of the company's stock worth $264,000 after buying an additional 204 shares during the period. Lighthouse Investment Partners LLC bought a new stake in Procter & Gamble in the fourth quarter valued at approximately $5,725,000. Finally, Investor s Fiduciary Advisor Network LLC acquired a new stake in Procter & Gamble during the 4th quarter worth $1,338,000. 65.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Morgan Stanley set a $180.00 price target on shares of Procter & Gamble and gave the company an "overweight" rating in a research note on Friday, April 25th. Redburn Atlantic downgraded Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 price objective for the company. in a report on Thursday, May 1st. Wells Fargo & Company boosted their price target on Procter & Gamble from $176.00 to $180.00 and gave the stock an "overweight" rating in a research report on Thursday, January 23rd. Truist Financial cut their target price on shares of Procter & Gamble from $185.00 to $180.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, UBS Group reiterated a "buy" rating on shares of Procter & Gamble in a research report on Monday, February 10th. Eight investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $178.52.

Procter & Gamble Price Performance

NYSE PG traded up $4.25 during trading on Thursday, hitting $162.27. 8,721,407 shares of the company's stock were exchanged, compared to its average volume of 7,225,013. The stock's 50 day moving average price is $164.97 and its two-hundred day moving average price is $167.37. The company has a market cap of $380.45 billion, a PE ratio of 25.84, a P/E/G ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a fifty-two week low of $156.58 and a fifty-two week 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 issued its earnings results on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.53 by $0.01. The business had revenue of $19.78 billion during the quarter, compared to analysts' expectations of $20.42 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The business's revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.52 EPS. Research analysts expect that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, April 21st will be given a $1.0568 dividend. The ex-dividend date is Monday, April 21st. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.61%. This is an increase from Procter & Gamble's previous quarterly dividend of $1.01. Procter & Gamble's payout ratio is 66.98%.

Insider Buying and Selling at Procter & Gamble

In related news, CEO Jennifer L. Davis sold 1,000 shares of the firm's 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 transaction, the chief executive officer now owns 51,965 shares of the company's stock, valued at approximately $8,386,111.70. This trade represents a 1.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gary A. Coombe sold 35,000 shares of Procter & Gamble stock in a transaction that occurred 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 directly owns 22,051 shares in the company, valued at approximately $3,829,817.68. The trade was a 61.35% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 64,520 shares of company stock valued at $10,999,268. 0.18% of the stock is currently owned by insiders.

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.