Sigma Investment Counselors Inc. Cuts Position in The Procter & Gamble Company (NYSE:PG)

Posted by on Apr 10th, 2023

Sigma Investment Counselors Inc. lessened its stake in shares of The Procter & Gamble Company (NYSE:PG – Get Rating) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,453 shares of the company’s stock after selling 342 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in Procter & Gamble were worth $5,070,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Procter & Gamble by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 224,570,227 shares of the company’s stock worth $28,351,991,000 after buying an additional 2,197,165 shares in the last quarter. BlackRock Inc. increased its position in Procter & Gamble by 1.1% in the third quarter. BlackRock Inc. now owns 161,904,833 shares of the company’s stock worth $20,440,487,000 after purchasing an additional 1,811,085 shares during the last quarter. State Street Corp raised its holdings in Procter & Gamble by 0.8% during the 3rd quarter. State Street Corp now owns 104,749,256 shares of the company’s stock valued at $13,224,594,000 after buying an additional 797,652 shares during the period. Legal & General Group Plc raised its holdings in shares of Procter & Gamble by 3.6% in the second quarter. Legal & General Group Plc now owns 18,536,142 shares of the company’s stock worth $2,665,327,000 after buying an additional 637,095 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Procter & Gamble by 1.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,938,327 shares of the company’s stock valued at $2,435,377,000 after buying an additional 228,272 shares in the last quarter. 62.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Procter & Gamble news, CFO Andre Schulten sold 1,311 shares of the stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $137.34, for a total transaction of $180,052.74. Following the transaction, the chief financial officer now directly owns 35,142 shares of the company’s stock, valued at $4,826,402.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Procter & Gamble news, insider Susan Street Whaley sold 709 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 value of $97,374.06. Following the transaction, the insider now owns 10,198 shares in the company, valued at approximately $1,400,593.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andre Schulten sold 1,311 shares of the company’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 $180,052.74. Following the sale, the chief financial officer now directly owns 35,142 shares of the company’s stock, valued at approximately $4,826,402.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,766 shares of company stock valued at $656,511. 0.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PG has been the topic of several research analyst reports. Wells Fargo & Company dropped their price objective on Procter & Gamble from $168.00 to $162.00 and set an “overweight” rating on the stock in a research note on Friday, January 20th. Deutsche Bank Aktiengesellschaft dropped their target price on Procter & Gamble from $162.00 to $156.00 in a research report on Monday, March 20th. UBS Group lifted their target price on Procter & Gamble from $163.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday. Citigroup started coverage on shares of Procter & Gamble in a report on Thursday, February 16th. They issued a “buy” rating and a $160.00 price target on the stock. Finally, StockNews.com initiated coverage on shares of Procter & Gamble in a research note on Thursday, March 16th. They set a “hold” rating for the company. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $155.73.

Procter & Gamble Trading Up 0.6 %

Shares of Procter & Gamble stock opened at $152.22 on Monday. The Procter & Gamble Company has a fifty-two week low of $122.18 and a fifty-two week high of $164.90. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.37 and a current ratio of 0.56. The company has a market cap of $359.11 billion, a P/E ratio of 26.71, a price-to-earnings-growth ratio of 4.25 and a beta of 0.41. The firm has a 50-day simple moving average of $142.13 and a two-hundred day simple moving average of $141.68.

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, topping 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 company had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $20.75 billion. During the same quarter in the prior year, the firm posted $1.66 EPS. Procter & Gamble’s quarterly revenue was down .9% compared to the same quarter last year. As a group, equities analysts predict that The Procter & Gamble Company will post 5.84 earnings per share 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 paid 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 2.40%. 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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