The Procter & Gamble Company (NYSE:PG) Shares Sold by DoubleLine ETF Adviser LP

DoubleLine ETF Adviser LP cut its holdings in The Procter & Gamble Company (NYSE:PG) by 22.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 56,106 shares of the company’s stock after selling 16,705 shares during the period. Procter & Gamble accounts for about 2.5% of DoubleLine ETF Adviser LP’s portfolio, making the stock its 5th largest holding. DoubleLine ETF Adviser LP’s holdings in Procter & Gamble were worth $9,406,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. FAS Wealth Partners Inc. increased its holdings in Procter & Gamble by 2.0% in the 4th quarter. FAS Wealth Partners Inc. now owns 27,690 shares of the company’s stock valued at $4,642,000 after purchasing an additional 549 shares during the last quarter. Berkshire Asset Management LLC PA boosted its position in shares of Procter & Gamble by 0.9% during the fourth quarter. Berkshire Asset Management LLC PA now owns 236,616 shares of the company’s stock worth $38,833,000 after buying an additional 2,179 shares during the period. Strategic Advisors LLC grew its stake in shares of Procter & Gamble by 3.4% in the fourth quarter. Strategic Advisors LLC now owns 55,912 shares of the company’s stock valued at $9,374,000 after buying an additional 1,818 shares in the last quarter. Fortem Financial Group LLC acquired a new position in Procter & Gamble during the 4th quarter worth about $569,000. Finally, Richard C. Young & CO. LTD. boosted its holdings in Procter & Gamble by 2.1% during the 4th quarter. Richard C. Young & CO. LTD. now owns 123,853 shares of the company’s stock valued at $20,764,000 after acquiring an additional 2,568 shares during the period. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Jennifer L. Davis sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total transaction of $161,380.00. Following the transaction, the chief executive officer now owns 51,965 shares of the company’s stock, valued at $8,386,111.70. This trade represents a 1.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Gary A. Coombe sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $173.68, for a total value of $6,078,800.00. Following the sale, the chief executive officer now directly owns 22,051 shares of the company’s stock, valued at approximately $3,829,817.68. This represents a 61.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,000 shares of company stock valued at $9,330,060. 0.18% of the stock is currently owned by company insiders.

Procter & Gamble Trading Down 1.6 %

Shares of Procter & Gamble stock opened at $159.99 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The company has a fifty day simple moving average of $167.61 and a 200-day simple moving average of $168.08. The stock has a market cap of $375.10 billion, a price-to-earnings ratio of 25.48, a PEG ratio of 3.76 and a beta of 0.43. The Procter & Gamble Company has a 12-month low of $156.58 and a 12-month high of $180.43.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.01. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The company had revenue of $19.78 billion during the quarter, compared to the consensus estimate of $20.42 billion. During the same quarter in the prior year, the firm posted $1.52 earnings per share. Procter & Gamble’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, equities analysts forecast that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, April 21st will be given a dividend of $1.0568 per share. This is a positive change from Procter & Gamble’s previous quarterly dividend of $1.01. The ex-dividend date is Monday, April 21st. This represents a $4.23 annualized dividend and a yield of 2.64%. Procter & Gamble’s payout ratio is 66.98%.

Analyst Upgrades and Downgrades

PG has been the topic of a number of recent research reports. Morgan Stanley set a $180.00 price target on shares of Procter & Gamble and gave the stock an “overweight” rating in a research note on Friday, April 25th. Redburn Atlantic lowered shares of Procter & Gamble from a “buy” rating to a “neutral” rating and set a $161.00 target price on the stock. in a report on Thursday. Raymond James dropped their price target on shares of Procter & Gamble from $190.00 to $185.00 and set an “outperform” rating for the company in a research note on Friday, April 25th. Wells Fargo & Company increased their price objective on Procter & Gamble from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Finally, Piper Sandler reissued an “underperform” rating on shares of Procter & Gamble in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $179.80.

About Procter & Gamble

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.