Latitude Advisors LLC Sells 224 Shares of The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Apr 12th, 2023

Latitude Advisors LLC lowered its position in shares of The Procter & Gamble Company (NYSE:PG – Get Rating) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,039 shares of the company’s stock after selling 224 shares during the period. Latitude Advisors LLC’s holdings in Procter & Gamble were worth $461,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Procter & Gamble by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 224,570,227 shares of the company’s stock worth $28,351,991,000 after acquiring an additional 2,197,165 shares during the period. BlackRock Inc. increased its stake in Procter & Gamble by 1.1% during the 3rd quarter. BlackRock Inc. now owns 161,904,833 shares of the company’s stock worth $20,440,487,000 after acquiring an additional 1,811,085 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Procter & Gamble by 108.5% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 3,339,628 shares of the company’s stock worth $421,628,000 after acquiring an additional 1,737,742 shares during the period. Two Sigma Advisers LP increased its stake in Procter & Gamble by 431.3% during the 3rd quarter. Two Sigma Advisers LP now owns 1,542,800 shares of the company’s stock worth $194,779,000 after acquiring an additional 1,252,400 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in Procter & Gamble by 139.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,718,903 shares of the company’s stock worth $260,517,000 after acquiring an additional 1,000,548 shares during the period. Institutional investors own 62.13% of the company’s stock.

Insider Activity at Procter & Gamble

In related news, insider Susan Street Whaley sold 435 shares of the business’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $141.82, for a total value of $61,691.70. Following the transaction, the insider now owns 10,840 shares in the company, valued at $1,537,328.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Susan Street Whaley sold 435 shares of the business’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $141.82, for a total value of $61,691.70. Following the transaction, the insider now owns 10,840 shares in the company, valued at $1,537,328.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jon R. Moeller sold 2,151 shares of the business’s stock in a transaction 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 transaction, 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 a total of 4,766 shares of company stock worth $656,511 over the last quarter. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PG. StockNews.com started coverage on Procter & Gamble in a report on Thursday, March 16th. They issued a “hold” rating on the stock. 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 report on Thursday, April 6th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Procter & Gamble from $156.00 to $160.00 in a report on Monday. Wells Fargo & Company decreased their price target on shares of Procter & Gamble from $168.00 to $162.00 and set an “overweight” rating on the stock in a report on Friday, January 20th. Finally, Raymond James increased their price objective on shares of Procter & Gamble from $165.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, January 13th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.00.

Procter & Gamble Price Performance

Shares of NYSE:PG opened at $150.66 on Wednesday. The firm has a market cap of $355.43 billion, a PE ratio of 26.43, a price-to-earnings-growth ratio of 4.25 and a beta of 0.41. The firm’s fifty day moving average is $142.49 and its 200-day moving average is $141.89. 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 Procter & Gamble Company has a 52 week low of $122.18 and a 52 week high of $164.90.

Procter & Gamble (NYSE:PG – Get Rating) last issued its quarterly earnings results on Thursday, January 19th. The company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.01. The company had revenue of $20.77 billion for the quarter, compared to analyst estimates of $20.75 billion. Procter & Gamble had a net margin of 17.79% and a return on equity of 32.03%. Procter & Gamble’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.66 earnings per share. Sell-side analysts predict that The Procter & Gamble Company will post 5.84 earnings per share for the current year.

Procter & Gamble Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Friday, April 21st will be issued a $0.9407 dividend. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.91. This represents a $3.76 annualized dividend and a yield of 2.50%. Procter & Gamble’s payout ratio is presently 64.04%.

About Procter & Gamble

(Get Rating)

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.