Linscomb Wealth Inc. Sells 1,131 Shares of The Procter & Gamble Company (NYSE:PG)

Linscomb Wealth Inc. lessened its stake in The Procter & Gamble Company (NYSE:PG) by 1.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 76,416 shares of the company’s stock after selling 1,131 shares during the quarter. Procter & Gamble comprises about 0.7% of Linscomb Wealth Inc.’s investment portfolio, making the stock its 22nd largest holding. Linscomb Wealth Inc.’s holdings in Procter & Gamble were worth $13,235,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Altrius Capital Management Inc increased its holdings in Procter & Gamble by 2.2% in the third quarter. Altrius Capital Management Inc now owns 27,293 shares of the company’s stock valued at $4,727,000 after purchasing an additional 598 shares during the last quarter. Empirical Finance LLC increased its holdings in Procter & Gamble by 2.1% in the third quarter. Empirical Finance LLC now owns 82,251 shares of the company’s stock valued at $14,246,000 after purchasing an additional 1,689 shares during the last quarter. Sheaff Brock Investment Advisors LLC grew its stake in Procter & Gamble by 0.5% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 48,431 shares of the company’s stock valued at $8,388,000 after acquiring an additional 240 shares during the period. Connable Office Inc. grew its stake in Procter & Gamble by 0.5% in the third quarter. Connable Office Inc. now owns 25,005 shares of the company’s stock valued at $4,331,000 after acquiring an additional 122 shares during the period. Finally, CIBC Asset Management Inc grew its stake in Procter & Gamble by 5.5% in the third quarter. CIBC Asset Management Inc now owns 446,176 shares of the company’s stock valued at $77,265,000 after acquiring an additional 23,169 shares during the period. Institutional investors own 65.77% of the company’s stock.

Insider Buying and Selling at Procter & Gamble

In other news, CEO Ma. Fatima Francisco sold 96,000 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $170.00, for a total transaction of $16,320,000.00. Following the transaction, the chief executive officer now owns 13,721 shares in the company, valued at approximately $2,332,570. This trade represents a 87.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jon R. Moeller sold 31,797 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $169.22, for a total value of $5,380,688.34. Following the transaction, the chief executive officer now owns 300,777 shares in the company, valued at approximately $50,897,483.94. This trade represents a 9.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 313,597 shares of company stock worth $53,268,499 over the last 90 days. Company insiders own 0.18% of the company’s stock.

Procter & Gamble Stock Up 1.3 %

NYSE PG traded up $2.19 during trading hours on Friday, hitting $169.27. 2,049,459 shares of the company traded hands, compared to its average volume of 6,640,000. The business’s 50-day moving average is $170.44 and its 200-day moving average is $168.27. The Procter & Gamble Company has a twelve month low of $142.50 and a twelve month high of $177.94. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75. The stock has a market capitalization of $398.64 billion, a price-to-earnings ratio of 28.81, a P/E/G ratio of 3.60 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.03. The firm had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.83 earnings per share. Sell-side analysts anticipate that The Procter & Gamble Company will post 6.94 earnings per share for the current year.

Procter & Gamble Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be paid a $1.0065 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $4.03 annualized dividend and a yield of 2.38%. Procter & Gamble’s dividend payout ratio is 69.48%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PG shares. Jefferies Financial Group cut Procter & Gamble from a “buy” rating to a “hold” rating and decreased their target price for the company from $182.00 to $175.00 in a research note on Wednesday, July 24th. TD Cowen started coverage on Procter & Gamble in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 target price for the company. Piper Sandler started coverage on Procter & Gamble in a research note on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 target price for the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a research note on Monday, October 21st. Finally, DZ Bank raised Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 target price for the company in a research note on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Procter & Gamble presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.00.

Procter & Gamble Company Profile

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, SK-II, and Native brands.