Clear Harbor Asset Management LLC Trims Stock Position in The Procter & Gamble Company (NYSE:PG)

Posted by on Apr 1st, 2023

Clear Harbor Asset Management LLC lowered its position in The Procter & Gamble Company (NYSE:PG – Get Rating) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,062 shares of the company’s stock after selling 70 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Procter & Gamble were worth $3,950,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. EWG Elevate Inc. purchased a new stake in shares of Procter & Gamble during the 4th quarter worth $26,000. Legend Financial Advisors Inc. acquired a new stake in shares of Procter & Gamble in the 3rd quarter worth $30,000. Horizons Wealth Management purchased a new position in Procter & Gamble during the 2nd quarter worth $52,000. Belmont Capital LLC increased its position in Procter & Gamble by 40.0% during the 3rd quarter. Belmont Capital LLC now owns 385 shares of the company’s stock valued at $49,000 after buying an additional 110 shares in the last quarter. Finally, Align Wealth Management LLC acquired a new stake in Procter & Gamble in the fourth quarter worth about $50,000. 62.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PG has been the subject of a number of recent research reports. Wells Fargo & Company reduced their price objective on Procter & Gamble from $168.00 to $162.00 and set an “overweight” rating for the company in a research note on Friday, January 20th. Citigroup started coverage on Procter & Gamble in a report on Thursday, February 16th. They issued a “buy” rating and a $160.00 price objective on the stock. Raymond James increased their target price on shares of Procter & Gamble from $165.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, January 13th. JPMorgan Chase & Co. raised Procter & Gamble from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $150.00 to $155.00 in a research note on Friday, March 3rd. Finally, Stifel Nicolaus lifted their price target on shares of Procter & Gamble from $139.00 to $147.00 and gave the company a “hold” rating in a research report on Friday, January 20th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $155.27.

Insiders Place Their Bets

In related news, CEO Jon R. Moeller sold 2,151 shares of the firm’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $137.34, for a total transaction of $295,418.34. Following the transaction, the chief executive officer now directly owns 226,748 shares in the company, valued at $31,141,570.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Susan Street Whaley sold 435 shares of the company’s stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $141.82, for a total transaction of $61,691.70. Following the completion of the transaction, the insider now owns 10,840 shares in the company, valued at $1,537,328.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jon R. Moeller sold 2,151 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $137.34, for a total transaction of $295,418.34. Following the completion of the sale, the chief executive officer now owns 226,748 shares in the company, valued at approximately $31,141,570.32. The disclosure for this sale can be found here. Insiders have sold 4,766 shares of company stock worth $656,511 in the last three months. 0.26% of the stock is owned by insiders.

Procter & Gamble Trading Up 0.8 %

Shares of PG opened at $148.69 on Friday. The firm has a 50 day simple moving average of $141.15 and a 200-day simple moving average of $141.15. The stock has a market cap of $350.78 billion, a price-to-earnings ratio of 26.09, a price-to-earnings-growth ratio of 4.10 and a beta of 0.40. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.56 and a quick ratio of 0.37. The Procter & Gamble Company has a 1-year low of $122.18 and a 1-year high of $164.90.

Procter & Gamble (NYSE:PG – Get Rating) last posted its quarterly earnings data on Thursday, January 19th. The company reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.01. The company had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $20.75 billion. Procter & Gamble had a net margin of 17.79% and a return on equity of 32.03%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.66 EPS. Equities analysts forecast that The Procter & Gamble Company will post 5.84 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 15th. Shareholders of record on Friday, January 20th were issued a $0.9133 dividend. The ex-dividend date was Thursday, January 19th. This represents a $3.65 dividend on an annualized basis and a yield of 2.46%. Procter & Gamble’s dividend payout ratio is currently 64.04%.

Procter & Gamble Company Profile

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Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & 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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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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