Greystone Financial Group LLC has significantly reduced its stake in the Procter & Gamble Company (NYSE: PG) by 97.4% during the third quarter of 2023. This information comes from the firm’s latest 13F filing with the Securities and Exchange Commission. Following the sale of 49,066 shares, Greystone now holds only 1,318 shares, valued at approximately $203,000 as of the end of the reporting period.
Several other institutional investors have also adjusted their positions in Procter & Gamble recently. MOKAN Wealth Management Inc. increased its holdings by 13.7% in the second quarter, now owning 15,319 shares worth about $2,442,000. Similarly, Czech National Bank raised its stake by 3.8%, acquiring an additional 21,825 shares to reach a total of 594,914 shares, valued at $91,409,000. Vega Investment Solutions also grew its investment by 1.3%, now holding 638,400 shares valued at $101,710,000.
Westerkirk Capital Inc. entered a new investment in Procter & Gamble during the second quarter, worth approximately $4,796,000. Additionally, Caliber Wealth Management LLC KS bolstered its position by 36.2%, now owning 17,798 shares valued at $2,836,000. Overall, institutional investors hold about 65.77% of Procter & Gamble’s stock.
Stock Performance and Dividend Announcement
As of Monday, Procter & Gamble shares opened at $141.77. The stock has experienced fluctuations, with a 52-week low of $138.14 and a high of $179.99. The company reported a quick ratio of 0.51, a current ratio of 0.71, and a debt-to-equity ratio of 0.46. With a market capitalization of $331.29 billion, Procter & Gamble’s price-to-earnings (P/E) ratio stands at 20.70.
On November 17, 2023, Procter & Gamble declared a quarterly dividend of $1.0568 per share, paid to investors of record on October 24. This translates to an annualized dividend of $4.23 and a yield of 3.0%. The company’s dividend payout ratio is currently 61.61%.
Analyst Ratings and Insider Transactions
Recent analyst reports reflect a mixed outlook on Procter & Gamble shares. Dbs Bank upgraded the stock to a “hold” rating, while Morgan Stanley set a target price of $175.00. Berenberg Bank raised their target from $152.00 to $154.00 with a “hold” rating. Wells Fargo & Company lowered their price objective from $173.00 to $170.00, maintaining an “overweight” rating. UBS Group also decreased their target price from $180.00 to $176.00, issuing a “buy” rating.
Out of the analysts covering the stock, thirteen have rated it as a Buy and ten have a Hold recommendation. The consensus target price stands at $171.38, according to MarketBeat.com.
In other developments, Chief Accounting Officer Matthew W. Janzaruk sold 725 shares on October 30 for an average price of $149.57, totaling $108,438.25. Following this transaction, Janzaruk retains 979 shares valued at $146,429.03.
Procter & Gamble, headquartered in Cincinnati, Ohio, is a leading multinational consumer goods company. Founded in 1837 by William Procter and James Gamble, the company produces a diverse range of household and personal care products sold globally. Its portfolio includes categories such as Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.
For those interested in staying updated, MarketBeat.com offers a free daily email newsletter summarizing the latest news and ratings for Procter & Gamble and related companies.
