Chevy Chase Trust Holdings LLC Cuts Stock Holdings in The Procter & Gamble Company (NYSE:PG)

Chevy Chase Trust Holdings LLC reduced its position in shares of The Procter & Gamble Company (NYSE:PG) by 2.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,315,162 shares of the company’s stock after selling 39,599 shares during the period. Procter & Gamble makes up approximately 0.7% of Chevy Chase Trust Holdings LLC’s portfolio, making the stock its 21st largest position. Chevy Chase Trust Holdings LLC owned about 0.06% of Procter & Gamble worth $227,786,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Coastwise Capital Group LLC raised its holdings in Procter & Gamble by 13.8% during the third quarter. Coastwise Capital Group LLC now owns 5,250 shares of the company’s stock worth $909,000 after purchasing an additional 638 shares in the last quarter. Ascent Group LLC grew its holdings in shares of Procter & Gamble by 2.1% in the 3rd quarter. Ascent Group LLC now owns 62,207 shares of the company’s stock worth $10,774,000 after acquiring an additional 1,287 shares during the period. Benjamin Edwards Inc. increased its stake in Procter & Gamble by 1,730.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 162,254 shares of the company’s stock valued at $28,109,000 after purchasing an additional 153,391 shares in the last quarter. Atom Investors LP raised its holdings in Procter & Gamble by 56.8% during the third quarter. Atom Investors LP now owns 23,117 shares of the company’s stock worth $4,004,000 after purchasing an additional 8,375 shares during the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in Procter & Gamble during the third quarter worth $659,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

Procter & Gamble Trading Up 0.2 %

Shares of PG stock opened at $179.65 on Monday. The firm has a market cap of $423.08 billion, a P/E ratio of 30.91, a PEG ratio of 3.86 and a beta of 0.42. The Procter & Gamble Company has a 1-year low of $142.50 and a 1-year high of $180.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55. The firm’s 50-day simple moving average is $170.48 and its 200-day simple moving average is $169.11.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Friday, October 18th. The company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.90 by $0.03. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The firm had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.99 billion. During the same quarter last year, the firm posted $1.83 earnings per share. Procter & Gamble’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities analysts forecast that The Procter & Gamble Company will post 6.97 EPS for the current year.

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were issued a $1.0065 dividend. The ex-dividend date was Friday, October 18th. This represents a $4.03 annualized dividend and a yield of 2.24%. Procter & Gamble’s payout ratio is 69.48%.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, CEO R. Alexandra Keith sold 1,992 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $170.00, for a total value of $338,640.00. Following the completion of the sale, the chief executive officer now owns 13,783 shares of the company’s stock, valued at $2,343,110. This trade represents a 12.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Balaji Purushothaman sold 12,800 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $172.73, for a total transaction of $2,210,944.00. Following the completion of the sale, the insider now directly owns 11,595 shares of the company’s stock, valued at $2,002,804.35. This trade represents a 52.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,233 shares of company stock worth $6,024,234. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wolfe Research raised Procter & Gamble to a “strong-buy” rating in a research note on Friday, August 23rd. Morgan Stanley increased their price objective on shares of Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Royal Bank of Canada reissued a “sector perform” rating and issued a $164.00 price objective on shares of Procter & Gamble in a research note on Monday, October 21st. Wells Fargo & Company increased their price objective on shares of Procter & Gamble from $188.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, Piper Sandler assumed coverage on shares of Procter & Gamble in a research note on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price objective on the stock. Eight analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $180.45.

Procter & Gamble 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.