Drive Wealth Management LLC Decreases Stock Position in The Procter & Gamble Company (NYSE:PG)

Drive Wealth Management LLC lowered its stake in The Procter & Gamble Company (NYSE:PGFree Report) by 2.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,645 shares of the company’s stock after selling 219 shares during the quarter. Drive Wealth Management LLC’s holdings in Procter & Gamble were worth $1,120,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PG. Wyrmwood Management LLC purchased a new stake in shares of Procter & Gamble during the 4th quarter valued at about $29,000. Mendota Financial Group LLC raised its position in shares of Procter & Gamble by 636.6% during the 4th quarter. Mendota Financial Group LLC now owns 302 shares of the company’s stock valued at $44,000 after buying an additional 261 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Procter & Gamble during the 2nd quarter valued at about $50,000. CGC Financial Services LLC purchased a new stake in shares of Procter & Gamble during the 2nd quarter valued at about $55,000. Finally, VitalStone Financial LLC purchased a new stake in shares of Procter & Gamble during the 2nd quarter valued at about $60,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Insider Activity

In other news, insider Marc S. Pritchard sold 101,704 shares of the stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $153.57, for a total transaction of $15,618,683.28. Following the transaction, the insider now directly owns 163,428 shares in the company, valued at $25,097,637.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Susan Street Whaley sold 3,865 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $160.60, for a total transaction of $620,719.00. Following the completion of the sale, the insider now owns 11,886 shares of the company’s stock, valued at $1,908,891.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marc S. Pritchard sold 101,704 shares of the stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $153.57, for a total transaction of $15,618,683.28. Following the sale, the insider now directly owns 163,428 shares of the company’s stock, valued at approximately $25,097,637.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 279,063 shares of company stock worth $43,187,745. Corporate insiders own 0.17% of the company’s stock.

Procter & Gamble Price Performance

NYSE PG opened at $160.57 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.44 and a current ratio of 0.64. The firm’s 50 day moving average price is $159.25 and its 200-day moving average price is $152.32. The Procter & Gamble Company has a 52-week low of $141.45 and a 52-week high of $163.14. The company has a market cap of $377.82 billion, a PE ratio of 26.90, a P/E/G ratio of 3.28 and a beta of 0.44.

Procter & Gamble (NYSE:PGGet Free Report) last released its quarterly earnings data on Tuesday, January 23rd. The company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.14. Procter & Gamble had a net margin of 17.60% and a return on equity of 34.04%. The firm had revenue of $21.44 billion for the quarter, compared to the consensus estimate of $21.48 billion. During the same period last year, the firm earned $1.59 earnings per share. The company’s quarterly revenue was up 3.2% on a year-over-year basis. Sell-side analysts forecast that The Procter & Gamble Company will post 6.45 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Friday, January 19th were paid a dividend of $0.9407 per share. The ex-dividend date was Thursday, January 18th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.34%. Procter & Gamble’s dividend payout ratio is presently 62.98%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PG. Royal Bank of Canada upped their target price on shares of Procter & Gamble from $156.00 to $157.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 24th. UBS Group increased their price objective on shares of Procter & Gamble from $172.00 to $178.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Raymond James increased their price objective on shares of Procter & Gamble from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Barclays increased their price objective on shares of Procter & Gamble from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Finally, StockNews.com lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.41.

Check Out Our Latest Research Report on PG

Procter & Gamble Company Profile

(Free Report)

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.

See Also

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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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