The Procter & Gamble Company (NYSE:PG) Position Lowered by Heritage Wealth Management Inc.

Heritage Wealth Management Inc. lessened its stake in The Procter & Gamble Company (NYSE:PG) by 1.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 115,558 shares of the company’s stock after selling 1,561 shares during the quarter. Procter & Gamble makes up about 6.4% of Heritage Wealth Management Inc.’s investment portfolio, making the stock its largest position. Heritage Wealth Management Inc.’s holdings in Procter & Gamble were worth $19,373,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the stock. Concurrent Investment Advisors LLC raised its stake in Procter & Gamble by 4.5% during the third quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock valued at $16,300,000 after purchasing an additional 4,035 shares in the last quarter. Strategic Advisors LLC raised its stake in Procter & Gamble by 3.4% during the fourth quarter. Strategic Advisors LLC now owns 55,912 shares of the company’s stock valued at $9,374,000 after purchasing an additional 1,818 shares in the last quarter. Copley Financial Group Inc. purchased a new stake in Procter & Gamble during the third quarter valued at $668,000. Fortem Financial Group LLC purchased a new stake in Procter & Gamble during the fourth quarter valued at $569,000. Finally, Richard C. Young & CO. LTD. raised its stake in Procter & Gamble by 2.1% during the fourth quarter. Richard C. Young & CO. LTD. now owns 123,853 shares of the company’s stock valued at $20,764,000 after purchasing an additional 2,568 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Piper Sandler decreased their price target on shares of Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating on the stock in a research note on Monday, February 24th. Wells Fargo & Company increased their target price on shares of Procter & Gamble from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. reduced their target price on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. UBS Group reissued a “buy” rating on shares of Procter & Gamble in a research note on Monday, February 10th. Finally, DA Davidson reissued a “buy” rating and issued a $209.00 target price on shares of Procter & Gamble in a research note on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $181.11.

Procter & Gamble Stock Up 1.1 %

Shares of Procter & Gamble stock opened at $173.84 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55. The Procter & Gamble Company has a 1 year low of $153.52 and a 1 year high of $180.43. The firm’s 50-day moving average is $166.29 and its two-hundred day moving average is $169.56. The stock has a market cap of $407.63 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 3.76 and a beta of 0.45.

Procter & Gamble (NYSE:PG) last issued its earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.02. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The company had revenue of $21.88 billion for the quarter, compared to analysts’ expectations of $21.66 billion. During the same period in the prior year, the business earned $1.84 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, research analysts expect that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th were issued a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend was Friday, January 24th. Procter & Gamble’s payout ratio is 64.01%.

Insiders Place Their Bets

In other Procter & Gamble news, insider Marc S. Pritchard sold 90,450 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the completion of the sale, the insider now directly owns 172,814 shares of the company’s stock, valued at approximately $28,313,845.76. This represents a 34.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gary A. Coombe sold 18,000 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $171.66, for a total transaction of $3,089,880.00. Following the sale, the chief executive officer now directly owns 22,051 shares of the company’s stock, valued at approximately $3,785,274.66. The trade was a 44.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Procter & Gamble Company 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.