Lorne Steinberg Wealth Management Inc. Cuts Stake in The Procter & Gamble Company (NYSE:PG)

Lorne Steinberg Wealth Management Inc. cut its stake in The Procter & Gamble Company (NYSE:PG) by 4.5% during the 4th quarter, HoldingsChannel reports. The firm owned 3,174 shares of the company’s stock after selling 150 shares during the quarter. Lorne Steinberg Wealth Management Inc.’s holdings in Procter & Gamble were worth $465,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PG. Register Financial Advisors LLC raised its position in Procter & Gamble by 1.3% in the third quarter. Register Financial Advisors LLC now owns 7,585 shares of the company’s stock valued at $1,106,000 after purchasing an additional 101 shares during the period. Landmark Wealth Management LLC purchased a new stake in shares of Procter & Gamble during the third quarter worth about $253,000. Key Bridge Compliance LLC purchased a new stake in shares of Procter & Gamble during the third quarter worth about $1,198,000. Sunflower Bank N.A. increased its position in shares of Procter & Gamble by 0.3% during the third quarter. Sunflower Bank N.A. now owns 111,121 shares of the company’s stock worth $16,208,000 after acquiring an additional 288 shares during the last quarter. Finally, Hengehold Capital Management LLC increased its holdings in Procter & Gamble by 1.6% in the third quarter. Hengehold Capital Management LLC now owns 370,042 shares of the company’s stock valued at $53,974,000 after buying an additional 5,718 shares during the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PG. JPMorgan Chase & Co. lowered their price objective on Procter & Gamble from $169.00 to $162.00 and set an “overweight” rating for the company in a report on Thursday, January 18th. The Goldman Sachs Group assumed coverage on Procter & Gamble in a report on Friday, March 1st. They set a “neutral” rating and a $168.00 target price for the company. Raymond James upped their target price on Procter & Gamble from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. StockNews.com lowered Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Finally, Wells Fargo & Company boosted their price objective on Procter & Gamble from $162.00 to $170.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $168.88.

Insider Transactions at Procter & Gamble

In other news, insider Marc S. Pritchard sold 101,704 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $153.57, for a total transaction of $15,618,683.28. Following the completion of the sale, the insider now owns 163,428 shares of the company’s stock, valued at $25,097,637.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Marc S. Pritchard sold 101,704 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $153.57, for a total value of $15,618,683.28. Following the completion of the sale, the insider now owns 163,428 shares of the company’s stock, valued at $25,097,637.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO R. Alexandra Keith sold 776 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $158.11, for a total transaction of $122,693.36. Following the completion of the sale, the chief executive officer now directly owns 4,859 shares of the company’s stock, valued at approximately $768,256.49. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 279,918 shares of company stock valued at $43,323,263. Corporate insiders own 0.17% of the company’s stock.

Procter & Gamble Price Performance

NYSE:PG traded up $0.81 during mid-day trading on Tuesday, hitting $161.35. The company’s stock had a trading volume of 4,151,375 shares, compared to its average volume of 6,921,099. The Procter & Gamble Company has a fifty-two week low of $141.45 and a fifty-two week high of $163.14. The company has a current ratio of 0.69, a quick ratio of 0.48 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $379.66 billion, a price-to-earnings ratio of 26.40, a P/E/G ratio of 3.19 and a beta of 0.44. The stock has a fifty day moving average of $159.21 and a 200-day moving average of $153.13.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Friday, April 19th. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.10. The firm had revenue of $20.20 billion during the quarter, compared to analyst estimates of $20.43 billion. Procter & Gamble had a net margin of 18.00% and a return on equity of 33.77%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.37 earnings per share. As a group, equities analysts forecast that The Procter & Gamble Company will post 6.53 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th will be issued a dividend of $1.0065 per share. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $4.03 annualized dividend and a dividend yield of 2.50%. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.85%.

Procter & Gamble Profile

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.