Harvey Investment Co. LLC Sells 772 Shares of The Procter & Gamble Company (NYSE:PG)

Harvey Investment Co. LLC decreased its stake in shares of The Procter & Gamble Company (NYSE:PG) by 1.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 47,034 shares of the company’s stock after selling 772 shares during the period. Procter & Gamble comprises approximately 0.9% of Harvey Investment Co. LLC’s holdings, making the stock its 29th largest position. Harvey Investment Co. LLC’s holdings in Procter & Gamble were worth $8,146,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Acorn Creek Capital LLC boosted its holdings in shares of Procter & Gamble by 2.8% in the 3rd quarter. Acorn Creek Capital LLC now owns 2,170 shares of the company’s stock valued at $376,000 after acquiring an additional 59 shares during the last quarter. Patrick M Sweeney & Associates Inc. lifted its position in Procter & Gamble by 1.1% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 5,561 shares of the company’s stock valued at $963,000 after purchasing an additional 59 shares during the period. Alera Investment Advisors LLC boosted its holdings in Procter & Gamble by 1.2% in the first quarter. Alera Investment Advisors LLC now owns 5,007 shares of the company’s stock valued at $812,000 after purchasing an additional 60 shares during the last quarter. Hudson Value Partners LLC grew its position in Procter & Gamble by 4.1% during the 2nd quarter. Hudson Value Partners LLC now owns 1,516 shares of the company’s stock worth $250,000 after purchasing an additional 60 shares during the period. Finally, Traveka Wealth LLC raised its stake in shares of Procter & Gamble by 1.7% during the 3rd quarter. Traveka Wealth LLC now owns 3,554 shares of the company’s stock valued at $616,000 after buying an additional 60 shares during the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Balaji Purushothaman sold 8,842 shares of the firm’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 transaction of $1,458,045.80. Following the completion of the sale, the insider now owns 11,537 shares in the company, valued at $1,902,451.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Procter & Gamble news, insider Susan Street Whaley sold 634 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total transaction of $108,826.10. Following the completion of the transaction, the insider now owns 19,341 shares of the company’s stock, valued at $3,319,882.65. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Balaji Purushothaman sold 8,842 shares of Procter & Gamble stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the sale, the insider now owns 11,537 shares of the company’s stock, valued at approximately $1,902,451.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 385,186 shares of company stock valued at $65,479,358 over the last ninety days. Company insiders own 0.17% of the company’s stock.

Procter & Gamble Stock Down 0.1 %

Shares of NYSE PG opened at $169.48 on Thursday. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.51. The company has a 50-day moving average of $171.88 and a 200 day moving average of $167.45. The Procter & Gamble Company has a 12-month low of $142.50 and a 12-month high of $177.94. The stock has a market cap of $400.00 billion, a PE ratio of 27.71, a P/E/G ratio of 3.72 and a beta of 0.41.

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. The firm had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $21.99 billion. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm earned $1.83 earnings per share. As a group, sell-side analysts predict that The Procter & Gamble Company will post 6.98 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently disclosed 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 2.38%. The ex-dividend date of this dividend is Friday, October 18th. Procter & Gamble’s payout ratio is currently 65.69%.

Analyst Upgrades and Downgrades

Several research firms recently commented on PG. Piper Sandler started coverage on Procter & Gamble in a report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price on the stock. Evercore ISI lifted their target price on shares of Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a report on Monday. Jefferies Financial Group cut shares of Procter & Gamble from a “buy” rating to a “hold” rating and decreased their target price for the company from $182.00 to $175.00 in a research note on Wednesday, July 24th. StockNews.com lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Hsbc Global Res upgraded shares of Procter & Gamble to a “strong-buy” rating in a research report on Friday, October 4th. Nine equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $177.00.

About Procter & Gamble

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.