Fjarde AP Fonden Fourth Swedish National Pension Fund Trims Position in The Procter & Gamble Company (NYSE:PG)

03 Jan 2024, 13:52 by Kim Johansen · The Markets Daily

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its holdings in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 0.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 570,886 shares of the company’s stock after selling 3,400 shares during the period. Procter & Gamble accounts for 1.1% of Fjarde AP Fonden Fourth Swedish National Pension Fund’s portfolio, making the stock its 15th biggest position. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Procter & Gamble were worth $83,269,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Your Advocates Ltd. LLP boosted its position in shares of Procter & Gamble by 632.0% during the second quarter. Your Advocates Ltd. LLP now owns 183 shares of the company’s stock valued at $28,000 after purchasing an additional 158 shares in the last quarter. Wunderlich Capital Managemnt bought a new stake in shares of Procter & Gamble during the second quarter valued at approximately $40,000. Itau Unibanco Holding S.A. bought a new stake in shares of Procter & Gamble during the second quarter valued at approximately $50,000. CGC Financial Services LLC bought a new stake in shares of Procter & Gamble during the second quarter valued at approximately $55,000. Finally, Impact Partnership Wealth LLC bought a new stake in shares of Procter & Gamble during the second quarter valued at approximately $57,000. 63.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on PG shares. Jefferies Financial Group started coverage on Procter & Gamble in a report on Monday, November 13th. They issued a “buy” rating and a $177.00 target price on the stock. Wells Fargo & Company boosted their target price on Procter & Gamble from $160.00 to $162.00 and gave the stock an “overweight” rating in a report on Thursday, October 19th. William Blair started coverage on Procter & Gamble in a report on Friday, September 8th. They issued a “market perform” rating on the stock. They noted that the move was a valuation call. HSBC started coverage on Procter & Gamble in a report on Friday, September 22nd. They issued a “buy” rating and a $179.00 target price on the stock. Finally, DZ Bank raised Procter & Gamble from a “sell” rating to a “hold” rating and set a $155.00 target price on the stock in a report on Friday, October 20th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $166.41.

Read Our Latest Stock Analysis on Procter & Gamble

Procter & Gamble Stock Up 1.5 %

Procter & Gamble stock opened at $148.76 on Wednesday. The stock has a market cap of $350.61 billion, a PE ratio of 24.15, a price-to-earnings-growth ratio of 3.03 and a beta of 0.45. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.48 and a current ratio of 0.67. The Procter & Gamble Company has a one year low of $135.83 and a one year high of $158.38. The stock has a fifty day moving average of $148.84 and a 200 day moving average of $150.34.

Procter & Gamble (NYSE:PG – Get Free Report) last posted its quarterly earnings data on Wednesday, October 18th. The company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.12. The company had revenue of $21.87 billion during the quarter, compared to analysts’ expectations of $21.58 billion. Procter & Gamble had a return on equity of 33.49% and a net margin of 18.30%. Procter & Gamble’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.57 earnings per share. As a group, sell-side analysts predict that The Procter & Gamble Company will post 6.42 EPS for the current year.

Procter & Gamble Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Friday, October 20th were given a dividend of $0.9407 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date was Thursday, October 19th. Procter & Gamble’s dividend payout ratio (DPR) is presently 61.04%.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, CFO Andre Schulten sold 40,298 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $150.61, for a total value of $6,069,281.78. Following the completion of the sale, the chief financial officer now owns 36,460 shares in the company, valued at $5,491,240.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Procter & Gamble news, CFO Andre Schulten sold 40,298 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $150.61, for a total value of $6,069,281.78. Following the completion of the sale, the chief financial officer now owns 36,460 shares in the company, valued at $5,491,240.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO R. Alexandra Keith sold 19,661 shares of the company’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $153.47, for a total value of $3,017,373.67. Following the completion of the sale, the chief executive officer now owns 24,438 shares of the company’s stock, valued at approximately $3,750,499.86. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,229 shares of company stock worth $11,676,570. 0.17% of the stock is owned by insiders.

Procter & Gamble Company Profile

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