Trek Financial LLC raised its stake in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 39.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 4,191 shares of the company’s stock after purchasing an additional 1,194 shares during the quarter. Trek Financial LLC’s holdings in Procter & Gamble were worth $623,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in PG. Moneta Group Investment Advisors LLC increased its stake in Procter & Gamble by 96,526.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 38,535,557 shares of the company’s stock valued at $5,840,449,000 after acquiring an additional 38,495,676 shares during the period. Norges Bank acquired a new stake in Procter & Gamble in the fourth quarter worth $3,752,321,000. Morgan Stanley raised its holdings in Procter & Gamble by 12.6% in the fourth quarter. Morgan Stanley now owns 44,320,700 shares of the company’s stock worth $6,717,246,000 after purchasing an additional 4,959,527 shares during the period. Alliancebernstein L.P. raised its holdings in Procter & Gamble by 43.9% in the fourth quarter. Alliancebernstein L.P. now owns 9,462,510 shares of the company’s stock worth $1,434,138,000 after purchasing an additional 2,888,007 shares during the period. Finally, Cerity Partners LLC raised its holdings in Procter & Gamble by 394.5% in the first quarter. Cerity Partners LLC now owns 3,085,378 shares of the company’s stock worth $482,344,000 after purchasing an additional 2,461,461 shares during the period. Institutional investors own 63.43% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Procter & Gamble from $170.00 to $173.00 and gave the stock a “buy” rating in a report on Monday, July 31st. Morgan Stanley reissued an “overweight” rating and set a $174.00 price objective on shares of Procter & Gamble in a research report on Tuesday, August 1st. William Blair started coverage on shares of Procter & Gamble in a research report on Friday. They set a “market perform” rating for the company. They noted that the move was a valuation call. Truist Financial downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $165.00 to $155.00 in a research report on Thursday, May 18th. Finally, Barclays raised their target price on shares of Procter & Gamble from $160.00 to $166.00 and gave the company an “overweight” rating in a research report on Tuesday, August 1st. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Procter & Gamble presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.82.
In other Procter & Gamble news, insider Balaji Purushothaman sold 12,629 shares of Procter & Gamble stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $157.19, for a total transaction of $1,985,152.51. Following the transaction, the insider now directly owns 13,051 shares of the company’s stock, valued at $2,051,486.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Gary A. Coombe sold 10,094 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $154.00, for a total transaction of $1,554,476.00. Following the sale, the chief executive officer now owns 36,896 shares in the company, valued at approximately $5,681,984. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Balaji Purushothaman sold 12,629 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $157.19, for a total transaction of $1,985,152.51. Following the completion of the transaction, the insider now owns 13,051 shares in the company, valued at approximately $2,051,486.69. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,607 shares of company stock worth $16,523,793. 0.17% of the stock is owned by company insiders.
Procter & Gamble Price Performance
Shares of NYSE:PG opened at $152.93 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.63 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $360.50 billion, a PE ratio of 25.92, a P/E/G ratio of 3.82 and a beta of 0.42. The Procter & Gamble Company has a twelve month low of $122.18 and a twelve month high of $158.38. The company has a 50-day moving average price of $153.15 and a two-hundred day moving average price of $149.78.
Procter & Gamble (NYSE:PG – Get Free Report) last issued its earnings results on Friday, July 28th. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.05. The firm had revenue of $20.60 billion during the quarter, compared to analyst estimates of $20.01 billion. Procter & Gamble had a net margin of 17.87% and a return on equity of 32.88%. The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the business earned $1.21 earnings per share. Equities analysts forecast that The Procter & Gamble Company will post 6.39 EPS for the current year.
Procter & Gamble Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Friday, July 21st were given a $0.9407 dividend. The ex-dividend date was Thursday, July 20th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.46%. Procter & Gamble’s dividend payout ratio (DPR) is currently 63.73%.
Procter & Gamble Company 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.
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