Evermay Wealth Management LLC Lowers Holdings in The Procter & Gamble Company (NYSE:PG)

by · The Cerbat Gem

Evermay Wealth Management LLC reduced its holdings in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 5.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,257 shares of the company’s stock after selling 427 shares during the period. Evermay Wealth Management LLC’s holdings in Procter & Gamble were worth $1,257,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. purchased a new stake in shares of Procter & Gamble during the 2nd quarter worth approximately $28,000. Fairway Wealth LLC acquired a new position in shares of Procter & Gamble in the second quarter valued at approximately $29,000. Ruedi Wealth Management Inc. lifted its holdings in shares of Procter & Gamble by 64.7% during the first quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock worth $32,000 after purchasing an additional 77 shares during the period. POM Investment Strategies LLC purchased a new position in Procter & Gamble in the 2nd quarter valued at $34,000. Finally, Quest Partners LLC acquired a new position in Procter & Gamble in the 2nd quarter valued at $36,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Procter & Gamble Trading Down 0.1 %

Shares of NYSE:PG traded down $0.25 during midday trading on Wednesday, reaching $166.92. The company had a trading volume of 590,083 shares, compared to its average volume of 6,630,713. The company has a fifty day simple moving average of $171.88 and a two-hundred day simple moving average of $167.87. 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 firm has a market cap of $393.10 billion, a price-to-earnings ratio of 28.82, a price-to-earnings-growth ratio of 3.64 and a beta of 0.41. The Procter & Gamble Company has a 1-year low of $142.50 and a 1-year high of $177.94.

Procter & Gamble (NYSE:PG – Get Free Report) last released its earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, topping 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 business had revenue of $21.74 billion for the quarter, compared to the consensus estimate of $21.99 billion. During the same period last year, the firm posted $1.83 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. Research analysts predict that The Procter & Gamble Company will post 6.94 earnings per share for the current year.

Procter & Gamble Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be given a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a yield of 2.41%. The ex-dividend date is Friday, October 18th. Procter & Gamble’s payout ratio is 69.48%.

Insider Buying and Selling

In related news, insider Susan Street Whaley sold 450 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total transaction of $76,149.00. Following the completion of the sale, the insider now directly owns 13,072 shares in the company, valued at approximately $2,212,043.84. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Procter & Gamble news, insider Balaji Purushothaman sold 8,842 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $164.90, for a total value of $1,458,045.80. Following the completion of the sale, the insider now directly owns 11,537 shares of the company’s stock, valued at $1,902,451.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Susan Street Whaley sold 450 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total transaction of $76,149.00. Following the transaction, the insider now owns 13,072 shares in the company, valued at $2,212,043.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 397,986 shares of company stock valued at $67,642,430. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Barclays cut Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price target for the company. in a report on Monday, September 30th. Stifel Nicolaus boosted their price objective on shares of Procter & Gamble from $157.00 to $161.00 and gave the stock a “hold” rating in a research note on Monday, July 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $164.00 price target on shares of Procter & Gamble in a report on Monday, October 21st. JPMorgan Chase & Co. lifted their target price on Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. Finally, Piper Sandler assumed coverage on Procter & Gamble in a research report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 target price for the company. Nine research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $177.00.

Check Out Our Latest Research Report on PG

Procter & Gamble Company Profile

(Free Report)

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.

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