Artemis Investment Management LLP Lowers Holdings in The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Apr 6th, 2023

Artemis Investment Management LLP trimmed its holdings in The Procter & Gamble Company (NYSE:PG – Get Rating) by 25.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 165,048 shares of the company’s stock after selling 57,404 shares during the period. Artemis Investment Management LLP’s holdings in Procter & Gamble were worth $25,140,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. raised its stake in Procter & Gamble by 1.8% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,824 shares of the company’s stock valued at $580,000 after buying an additional 69 shares in the last quarter. Calton & Associates Inc. boosted its stake in Procter & Gamble by 2.0% during the 4th quarter. Calton & Associates Inc. now owns 3,536 shares of the company’s stock valued at $536,000 after purchasing an additional 71 shares in the last quarter. Bourgeon Capital Management LLC boosted its stake in Procter & Gamble by 39.9% during the 4th quarter. Bourgeon Capital Management LLC now owns 249 shares of the company’s stock valued at $38,000 after purchasing an additional 71 shares in the last quarter. Wescott Financial Advisory Group LLC boosted its stake in shares of Procter & Gamble by 0.3% during the 1st quarter. Wescott Financial Advisory Group LLC now owns 22,385 shares of the company’s stock worth $3,420,000 after acquiring an additional 72 shares in the last quarter. Finally, E Fund Management Co. Ltd. boosted its stake in shares of Procter & Gamble by 1.6% during the 3rd quarter. E Fund Management Co. Ltd. now owns 4,839 shares of the company’s stock worth $611,000 after acquiring an additional 75 shares in the last quarter. 62.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, CEO Jon R. Moeller sold 2,151 shares of Procter & Gamble stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $137.34, for a total value of $295,418.34. Following the completion of the sale, 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 filing with the SEC, which is available at the SEC website. In other news, CEO Jon R. Moeller sold 2,151 shares of the 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 completion of the transaction, the chief executive officer now owns 226,748 shares in the company, valued at approximately $31,141,570.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Andre Schulten sold 1,311 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $137.34, for a total value of $180,052.74. Following the transaction, the chief financial officer now directly owns 35,142 shares in the company, valued at $4,826,402.28. The disclosure for this sale can be found here. Insiders have sold 4,766 shares of company stock valued at $656,511 over the last ninety days. 0.26% of the stock is owned by corporate insiders.

Procter & Gamble Stock Up 0.7 %

Shares of PG opened at $151.26 on Thursday. The Procter & Gamble Company has a 12 month low of $122.18 and a 12 month high of $164.90. The stock has a market cap of $356.84 billion, a price-to-earnings ratio of 26.54, a P/E/G ratio of 4.17 and a beta of 0.41. The company has a 50-day moving average price of $141.67 and a two-hundred day moving average price of $141.43. The company has a quick ratio of 0.37, a current ratio of 0.56 and a debt-to-equity ratio of 0.47.

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

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 15th. Investors of record on Friday, January 20th were given a $0.9133 dividend. This represents a $3.65 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend was Thursday, January 19th. Procter & Gamble’s payout ratio is currently 64.04%.

Analyst Ratings Changes

PG has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on Procter & Gamble from $162.00 to $156.00 in a report on Monday, March 20th. Barclays reduced their target price on Procter & Gamble from $161.00 to $158.00 and set an “overweight” rating for the company in a report on Monday, January 23rd. StockNews.com began coverage on Procter & Gamble in a report on Thursday, March 16th. They set a “hold” rating for the company. UBS Group upgraded Procter & Gamble from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $157.00 to $163.00 in a report on Wednesday, March 1st. Finally, Wells Fargo & Company cut their price objective on Procter & Gamble from $168.00 to $162.00 and set an “overweight” rating for the company in a report on Friday, January 20th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $155.27.

About Procter & Gamble

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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.