The Procter & Gamble Company (NYSE:PG) Shares Bought by Texas Capital Bank Wealth Management Services Inc

Texas Capital Bank Wealth Management Services Inc raised its holdings in The Procter & Gamble Company (NYSE:PG) by 5.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,023 shares of the company’s stock after purchasing an additional 290 shares during the period. Texas Capital Bank Wealth Management Services Inc’s holdings in Procter & Gamble were worth $993,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PG. Alera Investment Advisors LLC lifted its holdings in shares of Procter & Gamble by 1.2% during the first quarter. Alera Investment Advisors LLC now owns 5,007 shares of the company’s stock worth $812,000 after purchasing an additional 60 shares during the period. Hudson Value Partners LLC lifted its stake in shares of Procter & Gamble by 4.1% in the 2nd quarter. Hudson Value Partners LLC now owns 1,516 shares of the company’s stock worth $250,000 after acquiring an additional 60 shares during the period. Fiduciary Alliance LLC boosted its holdings in shares of Procter & Gamble by 2.8% in the second quarter. Fiduciary Alliance LLC now owns 2,261 shares of the company’s stock valued at $371,000 after acquiring an additional 61 shares in the last quarter. LCM Capital Management Inc increased its stake in shares of Procter & Gamble by 1.1% during the first quarter. LCM Capital Management Inc now owns 5,701 shares of the company’s stock worth $925,000 after acquiring an additional 63 shares during the period. Finally, Home Federal Bank of Tennessee raised its holdings in Procter & Gamble by 0.3% during the second quarter. Home Federal Bank of Tennessee now owns 23,318 shares of the company’s stock worth $3,846,000 after purchasing an additional 63 shares in the last quarter. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Procter & Gamble Stock Performance

NYSE:PG opened at $173.47 on Friday. The Procter & Gamble Company has a 1-year low of $141.45 and a 1-year high of $177.94. The firm has a 50 day simple moving average of $170.79 and a 200-day simple moving average of $166.14. The firm has a market cap of $409.41 billion, a PE ratio of 28.34, a P/E/G ratio of 3.77 and a beta of 0.41. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.53.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.03. The company had revenue of $20.53 billion for the quarter, compared to analyst estimates of $20.69 billion. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.37 EPS. On average, equities analysts expect that The Procter & Gamble Company will post 6.97 EPS for the current year.

Procter & Gamble Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were paid a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date was Friday, July 19th. Procter & Gamble’s dividend payout ratio is currently 65.69%.

Analysts Set New Price Targets

PG has been the topic of several recent analyst reports. Royal Bank of Canada boosted their target price on Procter & Gamble from $157.00 to $164.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 31st. Stifel Nicolaus increased their price objective on Procter & Gamble from $157.00 to $161.00 and gave the stock a “hold” rating in a research report on Monday, July 22nd. Piper Sandler started coverage on shares of Procter & Gamble in a research report on Tuesday. They set a “neutral” rating and a $174.00 target price on the stock. BNP Paribas began coverage on shares of Procter & Gamble in a research note on Monday, June 24th. They set an “outperform” rating and a $187.00 price target on the stock. Finally, Barclays reduced their price objective on shares of Procter & Gamble from $174.00 to $163.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Eight research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Procter & Gamble has an average rating of “Moderate Buy” and a consensus price target of $175.89.

Insider Buying and Selling

In related news, CEO Jon R. Moeller sold 37,240 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $168.89, for a total transaction of $6,289,463.60. Following the completion of the transaction, the chief executive officer now owns 263,537 shares of the company’s stock, valued at $44,508,763.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Procter & Gamble news, CEO Jon R. Moeller sold 37,240 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $168.89, for a total transaction of $6,289,463.60. Following the completion of the sale, the chief executive officer now owns 263,537 shares of the company’s stock, valued at $44,508,763.93. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Andre Schulten sold 13,041 shares of Procter & Gamble stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $170.00, for a total value of $2,216,970.00. Following the completion of the transaction, the chief financial officer now directly owns 37,208 shares in the company, valued at $6,325,360. The disclosure for this sale can be found here. Over the last three months, insiders have sold 375,553 shares of company stock valued at $63,829,141. Insiders own 0.17% of the company’s stock.

About Procter & Gamble

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.