Mason Investment Advisory Services Inc. has significantly reduced its investment in Procter & Gamble Company (NYSE: PG) by 39.3% during the first quarter of 2024, according to Holdings Channel. The firm now holds 1,619 shares of Procter & Gamble, valued at approximately $276,000, following the sale of 1,048 shares during this period.
Several other institutional investors have also adjusted their positions in Procter & Gamble. For instance, Vanguard Group Inc. increased its holdings by 0.7% during the fourth quarter, acquiring an additional 1,592,061 shares. Vanguard now owns 229,794,073 shares, which are valued at around $38.52 billion. Similarly, Geode Capital Management LLC boosted its position by 2.3%, now holding 56,472,195 shares worth approximately $9.46 billion.
Norges Bank made a notable entry into the company, acquiring new shares valued at about $5.24 billion. Other investors, such as Northern Trust Corp and Franklin Resources Inc., have also increased their stakes by 10.1% and 6.4%, respectively. Combined, institutional investors and hedge funds hold 65.77% of Procter & Gamble’s stock.
In corporate actions, CEO Jennifer L. Davis sold 1,000 shares on April 29, 2024, at an average price of $161.38, totaling $161,380. This sale decreased her ownership to 51,965 shares, valued at around $8.39 million. Another insider, Moses Victor Javier Aguilar, sold 10,520 shares on May 5, 2024, for $1.67 million, representing a 29.47% decrease in his holdings.
Recent Market Performance and Earnings
As of the latest trading session, Procter & Gamble shares opened at $156.95. The company has experienced fluctuations, with a 12-month low of $155.95 and a high of $180.43. Procter & Gamble holds a market capitalization of $367.98 billion and has a price-to-earnings (P/E) ratio of 24.91.
In its recent quarterly earnings report released on April 24, 2024, Procter & Gamble reported an earnings per share (EPS) of $1.54, slightly surpassing analysts’ estimates of $1.53. The company generated revenue of $19.78 billion, although this figure fell short of the expected $20.42 billion and marked a 2.1% decline compared to the same quarter last year. Analysts project the company will post an EPS of $6.91 for the current fiscal year.
Additionally, Procter & Gamble has announced a quarterly dividend of $1.0568, which will be paid on August 15, 2024. Shareholders of record on July 18, 2024 will be eligible for this dividend, which equates to an annualized yield of 2.69%. The company maintains a dividend payout ratio of 67.14%, reflecting its commitment to returning value to shareholders.
Procter & Gamble continues to be a significant player in the consumer goods sector, operating through various segments, including Beauty, Grooming, Health Care, and Fabric and Home Care. The company’s diverse portfolio enables it to adapt to changing market demands while striving to maintain its competitive edge.