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Objective Capital Management LLC Cuts Holdings in The Procter & Gamble Company (NYSE:PG)

Objective Capital Management LLC Cuts Holdings in The Procter & Gamble Company (NYSE:PG) #Objective #Capital #Management #LLC #Cuts #Holdings #Procter #Gamble #Company #NYSEPG Welcome to Americanah Blog, here is the new story we have for you today:

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Objective Capital Management LLC reduced its position in The Procter & Gamble Company (NYSE:PGGet Rating) by 2.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,120 shares of the company’s stock after selling 83 shares during the quarter. Objective Capital Management LLC’s holdings in Procter & Gamble were worth $592,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in PG. Vanguard Group Inc. raised its position in Procter & Gamble by 1.1% in the first quarter. Vanguard Group Inc. now owns 217,519,281 shares of the company’s stock valued at $33,236,946,000 after purchasing an additional 2,394,234 shares during the period. BlackRock Inc. raised its position in Procter & Gamble by 1.2% in the fourth quarter. BlackRock Inc. now owns 156,813,285 shares of the company’s stock valued at $25,651,517,000 after purchasing an additional 1,785,863 shares during the period. State Street Corp raised its position in Procter & Gamble by 1.7% in the fourth quarter. State Street Corp now owns 105,458,164 shares of the company’s stock valued at $17,250,846,000 after purchasing an additional 1,716,517 shares during the period. Bank of New York Mellon Corp raised its position in Procter & Gamble by 4.3% in the first quarter. Bank of New York Mellon Corp now owns 23,740,255 shares of the company’s stock valued at $3,627,510,000 after purchasing an additional 983,197 shares during the period. Finally, Norges Bank purchased a new position in Procter & Gamble in the fourth quarter valued at about $3,726,603,000. 63.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on Procter & Gamble from $165.00 to $156.00 in a research note on Thursday, July 21st. Barclays lowered their target price on Procter & Gamble from $157.00 to $154.00 and set an “overweight” rating for the company in a research note on Tuesday, August 2nd. StockNews.com downgraded Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Wednesday, September 14th. Truist Financial lowered their target price on Procter & Gamble from $175.00 to $160.00 and set a “buy” rating for the company in a research note on Monday, August 1st. Finally, UBS Group cut their price objective on Procter & Gamble to $153.00 in a research note on Friday, July 22nd. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Procter & Gamble presently has an average rating of “Moderate Buy” and an average price target of $162.93.

Procter & Gamble Stock Down 0.2 %

NYSE:PG opened at $137.99 on Tuesday. The firm has a market capitalization of $329.18 billion, a PE ratio of 23.75, a price-to-earnings-growth ratio of 3.55 and a beta of 0.35. The stock has a 50 day moving average of $143.26 and a 200-day moving average of $147.58. The Procter & Gamble Company has a 52 week low of $129.50 and a 52 week high of $165.35. The company has a current ratio of 0.65, a quick ratio of 0.45 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PGGet Rating) last posted its earnings results on Friday, July 29th. The company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.02). Procter & Gamble had a net margin of 18.39% and a return on equity of 32.67%. The company had revenue of $19.52 billion for the quarter, compared to the consensus estimate of $19.41 billion. During the same period last year, the company posted $1.13 earnings per share. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. Analysts predict that The Procter & Gamble Company will post 5.94 EPS for the current year.

Procter & Gamble Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Friday, July 22nd were issued a $0.913 dividend. This represents a $3.65 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend was Thursday, July 21st. Procter & Gamble’s dividend payout ratio (DPR) is 62.82%.

Insider Buying and Selling

In related news, CEO Ma. Fatima Francisco sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $145.00, for a total value of $290,000.00. Following the completion of the transaction, the chief executive officer now directly owns 5,026 shares of the company’s stock, valued at approximately $728,770. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Procter & Gamble news, CEO Ma. Fatima Francisco sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $145.00, for a total value of $290,000.00. Following the completion of the sale, the chief executive officer now directly owns 5,026 shares in the company, valued at $728,770. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mary Theresa Grabowski sold 10,397 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $146.00, for a total value of $1,517,962.00. Following the completion of the sale, the insider now owns 4,353 shares of the company’s stock, valued at $635,538. The disclosure for this sale can be found here. Insiders sold 289,321 shares of company stock valued at $42,559,426 in the last three months. 0.26% of the stock is currently owned by corporate insiders.

About Procter & Gamble

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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.

Further Reading

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

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