Martingale Asset Management L P Sells 58,242 Shares of The Procter & Gamble Company (NYSE:PG)

Martingale Asset Management L P lowered its holdings in The Procter & Gamble Company (NYSE:PG) by 18.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 261,482 shares of the company’s stock after selling 58,242 shares during the period. Procter & Gamble comprises about 1.0% of Martingale Asset Management L P’s portfolio, making the stock its 11th largest holding. Martingale Asset Management L P’s holdings in Procter & Gamble were worth $45,289,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Concurrent Investment Advisors LLC grew its position in Procter & Gamble by 4.5% in the third quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock valued at $16,300,000 after purchasing an additional 4,035 shares in the last quarter. Radnor Capital Management LLC bought a new position in Procter & Gamble in the third quarter valued at $5,705,000. Welch Group LLC grew its position in Procter & Gamble by 0.9% in the third quarter. Welch Group LLC now owns 323,870 shares of the company’s stock valued at $56,094,000 after purchasing an additional 2,990 shares in the last quarter. Swiss National Bank grew its position in Procter & Gamble by 0.6% in the third quarter. Swiss National Bank now owns 7,005,790 shares of the company’s stock valued at $1,213,403,000 after purchasing an additional 39,000 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Procter & Gamble by 67.2% in the second quarter. GAMMA Investing LLC now owns 26,803 shares of the company’s stock valued at $4,420,000 after purchasing an additional 10,777 shares in the last quarter. Institutional investors own 65.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PG shares. Dbs Bank downgraded shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. StockNews.com downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Piper Sandler started coverage on shares of Procter & Gamble in a research report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price objective for the company. Wolfe Research raised shares of Procter & Gamble to a “strong-buy” rating in a research report on Friday, August 23rd. Finally, DZ Bank raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective for the company in a research report on Thursday, August 29th. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $180.45.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, CEO Jon R. Moeller sold 7,007 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total transaction of $1,202,751.55. Following the sale, the chief executive officer now directly owns 269,172 shares of the company’s stock, valued at $46,203,373.80. The trade was a 2.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Balaji Purushothaman sold 12,800 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the sale, the insider now directly owns 11,566 shares in the company, valued at $1,954,538.34. The trade was a 52.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,233 shares of company stock valued at $6,024,234. 0.18% of the stock is owned by insiders.

Procter & Gamble Price Performance

PG stock opened at $179.36 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a 12 month low of $142.50 and a 12 month high of $180.43. The firm has a market cap of $422.40 billion, a P/E ratio of 30.92, a P/E/G ratio of 3.86 and a beta of 0.42. The company’s 50-day moving average price is $170.37 and its two-hundred day moving average price is $168.98.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.03. The company had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The firm’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.83 EPS. On average, analysts anticipate that The Procter & Gamble Company will post 6.97 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were issued a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Friday, October 18th. Procter & Gamble’s dividend payout ratio (DPR) is presently 69.48%.

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.