Mason Investment Advisory Services Inc. has significantly reduced its stake in the Procter & Gamble Company (NYSE: PG), lowering its position by 39.3% during the first quarter of 2024. According to Holdings Channel, the firm now holds 1,619 shares of Procter & Gamble after selling 1,048 shares during the quarter, valuing its remaining holdings at approximately $276,000.
This adjustment in investment comes as several other large stakeholders have also recalibrated their positions in the consumer goods giant. Notably, Vanguard Group Inc. increased its holdings by 0.7% in the fourth quarter, now owning 229,794,073 shares valued at around $38.5 billion after acquiring an additional 1,592,061 shares.
Geode Capital Management LLC also bolstered its investment, raising its holdings by 2.3% to 56,472,195 shares, which are worth approximately $9.46 billion. Meanwhile, Norges Bank entered a new stake in Procter & Gamble valued at about $5.24 billion, and Northern Trust Corp increased its ownership by 10.1% to 29,395,208 shares, valued at approximately $4.93 billion.
Franklin Resources Inc. also expanded its investment by 6.4%, now holding 20,197,996 shares worth around $3.39 billion. Overall, institutional investors and hedge funds now control approximately 65.77% of Procter & Gamble’s stock.
Insider Transactions Reveal Executive Activity
In related developments, Procter & Gamble’s Chief Executive Officer, Jennifer L. Davis, sold 1,000 shares on April 29, 2024, at an average price of $161.38, resulting in a total transaction value of $161,380. Following this sale, Davis retains 51,965 shares valued at approximately $8.39 million, reflecting a 1.89% decrease in her ownership.
Another insider, Moses Victor Javier Aguilar, sold 10,520 shares on May 5, 2024, at an average price of $158.67, totaling $1.67 million. After this transaction, Aguilar holds 25,182 shares, valued at about $3.99 million, marking a 29.47% reduction in his position. Company insiders collectively own 0.18% of Procter & Gamble’s stock.
Stock Performance and Future Expectations
Procter & Gamble’s stock opened at $156.95 on Friday, marking a 1.0% decline. The company has experienced a 12-month low of $155.95 and a high of $180.43. With a market capitalization of $367.98 billion, Procter & Gamble currently holds a price-to-earnings ratio of 24.91 and a beta of 0.40.
The company recently announced its quarterly earnings, reporting an earnings per share (EPS) of $1.54, which surpassed analysts’ estimates of $1.53 by $0.01. Despite this positive result, Procter & Gamble’s revenue for the quarter was $19.78 billion, slightly below the projected $20.42 billion and a decrease of 2.1% compared to the same period last year.
Equity analysts expect Procter & Gamble to achieve an EPS of $6.91 for the current fiscal year.
In addition to its earnings report, Procter & Gamble has declared a quarterly dividend to be paid on August 15, 2024. Shareholders of record on July 18, 2024, will receive a dividend of $1.0568, equating to an annualized dividend of $4.23 and a yield of 2.69%. The company’s dividend payout ratio currently stands at 67.14%.
Procter & Gamble continues to operate as a leading provider of branded consumer packaged goods, with segments including Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care.
