Smithbridge Asset Management Inc. DE bought a new position in shares of The Procter & Gamble Company (NYSE:PG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 30,495 shares of the company's stock, valued at approximately $5,197,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Cladis Investment Advisory LLC lifted its holdings in shares of Procter & Gamble by 5.2% during the fourth quarter. Cladis Investment Advisory LLC now owns 4,807 shares of the company's stock worth $806,000 after buying an additional 236 shares during the last quarter. FAS Wealth Partners Inc. increased its position in Procter & Gamble by 2.0% during the fourth quarter. FAS Wealth Partners Inc. now owns 27,690 shares of the company's stock worth $4,642,000 after acquiring an additional 549 shares during the period. Berkshire Asset Management LLC PA raised its stake in Procter & Gamble by 0.9% during the 4th quarter. Berkshire Asset Management LLC PA now owns 236,616 shares of the company's stock valued at $38,833,000 after purchasing an additional 2,179 shares during the last quarter. Strategic Advisors LLC boosted its holdings in Procter & Gamble by 3.4% in the 4th quarter. Strategic Advisors LLC now owns 55,912 shares of the company's stock valued at $9,374,000 after purchasing an additional 1,818 shares during the period. Finally, Natural Investments LLC acquired a new stake in Procter & Gamble in the 4th quarter worth $2,121,000. 65.77% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have recently issued reports on PG. Citigroup dropped their price objective on shares of Procter & Gamble from $200.00 to $181.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Raymond James lowered their price objective on Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Redburn Atlantic lowered shares of Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 price target on the stock. in a report on Thursday, May 1st. Morgan Stanley set a $180.00 price objective on shares of Procter & Gamble and gave the company an "overweight" rating in a research note on Friday, April 25th. Finally, Piper Sandler upped their target price on shares of Procter & Gamble from $160.00 to $164.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Eight investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Procter & Gamble has an average rating of "Moderate Buy" and an average target price of $178.86.
Check Out Our Latest Stock Report on Procter & Gamble
Procter & Gamble Price Performance
PG traded down $3.12 during trading on Friday, hitting $160.06. The company's stock had a trading volume of 7,093,816 shares, compared to its average volume of 7,367,457. The firm's 50 day moving average price is $163.70 and its two-hundred day moving average price is $166.95. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $375.27 billion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 3.76 and a beta of 0.43. The Procter & Gamble Company has a 12 month low of $156.58 and a 12 month high of $180.43.
Procter & Gamble (NYSE:PG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.53 by $0.01. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The business had revenue of $19.78 billion during the quarter, compared to analysts' expectations of $20.42 billion. During the same period in the previous year, the business posted $1.52 earnings per share. The firm's revenue for the quarter was down 2.1% compared to the same quarter last year. Sell-side analysts forecast that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.
Procter & Gamble Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, April 21st were given a $1.0568 dividend. This represents a $4.23 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend was Monday, April 21st. This is a boost from Procter & Gamble's previous quarterly dividend of $1.01. Procter & Gamble's payout ratio is 66.98%.
Insiders Place Their Bets
In other news, insider Moses Victor Javier Aguilar sold 10,520 shares of Procter & Gamble stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the completion of the sale, the insider now owns 25,182 shares in the company, valued at $3,995,627.94. The trade was a 29.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jennifer L. Davis sold 1,000 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total transaction of $161,380.00. Following the completion of the transaction, the chief executive officer now owns 51,965 shares in the company, valued at $8,386,111.70. This represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.
Procter & Gamble Profile
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Free Report)
Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.
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