Novem Group purchased a new position in The Procter & Gamble Company (NYSE:PG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,784 shares of the company's stock, valued at approximately $970,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Regent Peak Wealth Advisors LLC boosted its holdings in Procter & Gamble by 1.3% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 11,063 shares of the company's stock valued at $1,855,000 after purchasing an additional 139 shares during the last quarter. Guinness Asset Management LTD boosted its position in shares of Procter & Gamble by 5.2% during the 4th quarter. Guinness Asset Management LTD now owns 1,247,990 shares of the company's stock valued at $209,182,000 after acquiring an additional 62,048 shares during the last quarter. Guinness Atkinson Asset Management Inc grew its position in Procter & Gamble by 23.3% in the fourth quarter. Guinness Atkinson Asset Management Inc now owns 6,396 shares of the company's stock worth $1,072,000 after acquiring an additional 1,209 shares during the period. Zhang Financial LLC increased its position in shares of Procter & Gamble by 1.2% during the fourth quarter. Zhang Financial LLC now owns 24,371 shares of the company's stock valued at $4,086,000 after acquiring an additional 288 shares during the last quarter. Finally, Gemmer Asset Management LLC grew its stake in shares of Procter & Gamble by 8.4% in the fourth quarter. Gemmer Asset Management LLC now owns 3,612 shares of the company's stock valued at $606,000 after buying an additional 280 shares in the last quarter. 65.77% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on PG shares. Erste Group Bank downgraded Procter & Gamble from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Morgan Stanley set a $180.00 target price on shares of Procter & Gamble and gave the company an "overweight" rating in a report on Friday, April 25th. Redburn Partners set a $161.00 price objective on Procter & Gamble in a research note on Thursday, May 1st. Citigroup reduced their target price on shares of Procter & Gamble from $200.00 to $181.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, Truist Financial decreased their price target on Procter & Gamble from $185.00 to $180.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Eight research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $178.52.
Check Out Our Latest Analysis on Procter & Gamble
Procter & Gamble Trading Up 0.6%
Shares of PG traded up $0.92 during mid-day trading on Friday, reaching $165.95. The company had a trading volume of 5,349,778 shares, compared to its average volume of 7,275,251. The firm has a fifty day simple moving average of $164.19 and a 200-day simple moving average of $167.33. The Procter & Gamble Company has a fifty-two week low of $156.58 and a fifty-two week high of $180.43. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The stock has a market cap of $389.07 billion, a price-to-earnings ratio of 26.43, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41.
Procter & Gamble (NYSE:PG - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.53 by $0.01. The company had revenue of $19.78 billion for the quarter, compared to analyst estimates of $20.42 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The firm's revenue was down 2.1% compared to the same quarter last year. During the same period last year, the company posted $1.52 earnings per share. On average, sell-side analysts anticipate that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.
Procter & Gamble Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were issued a dividend of $1.0568 per share. This is a positive change from Procter & Gamble's previous quarterly dividend of $1.01. This represents a $4.23 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend was Monday, April 21st. Procter & Gamble's dividend payout ratio (DPR) is currently 66.98%.
Insider Activity at Procter & Gamble
In other news, CEO Gary A. Coombe sold 35,000 shares of Procter & Gamble stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the sale, the chief executive officer now owns 22,051 shares of the company's stock, valued at approximately $3,829,817.68. The trade was a 61.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jennifer L. Davis sold 1,000 shares of the business's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total value of $161,380.00. Following the transaction, the chief executive officer now owns 51,965 shares of the company's stock, valued at $8,386,111.70. This trade represents a 1.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 64,520 shares of company stock valued at $10,999,268 over the last three months. 0.18% of the stock is owned by insiders.
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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