ABC Arbitrage SA Purchases Shares of 8,927 Procter & Gamble Company (The) (NYSE:PG)

Key Points

• ABC Arbitrage SA has acquired a new stake in Procter & Gamble during Q1, purchasing 8,927 shares valued at approximately $1.52 million.
• Analysts have set a consensus target price of $175.88 for Procter & Gamble, with varying ratings from institutions, including several "buy" and "overweight" ratings.
• Procter & Gamble recently announced a quarterly dividend of $1.0568 per share, resulting in an annualized dividend yield of 2.8%.

ABC Arbitrage SA bought a new position in Procter & Gamble Company (The) (NYSE:PG - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm bought 8,927 shares of the company's stock, valued at approximately $1,521,000.

Other large investors also recently bought and sold shares of the company. McClarren Financial Advisors Inc. acquired a new stake in shares of Procter & Gamble during the first quarter worth about $724,000. Cary Street Partners Investment Advisory LLC raised its position in Procter & Gamble by 89.0% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 3,515 shares of the company's stock worth $599,000 after buying an additional 1,655 shares during the last quarter. Levin Capital Strategies L.P. lifted its stake in Procter & Gamble by 75.4% during the 1st quarter. Levin Capital Strategies L.P. now owns 13,961 shares of the company's stock valued at $2,379,000 after acquiring an additional 6,000 shares during the period. Empower Advisory Group LLC increased its stake in shares of Procter & Gamble by 2.1% in the first quarter. Empower Advisory Group LLC now owns 869,676 shares of the company's stock worth $148,210,000 after acquiring an additional 17,911 shares during the period. Finally, Costello Asset Management INC raised its holdings in shares of Procter & Gamble by 1,666.9% during the first quarter. Costello Asset Management INC now owns 5,548 shares of the company's stock worth $946,000 after purchasing an additional 5,234 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on PG. Morgan Stanley set a $180.00 price target on Procter & Gamble and gave the stock an "overweight" rating in a research report on Friday, April 25th. Erste Group Bank downgraded Procter & Gamble from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Citigroup dropped their price target on shares of Procter & Gamble from $200.00 to $181.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Truist Financial reduced their price objective on shares of Procter & Gamble from $185.00 to $180.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Finally, Wells Fargo & Company decreased their price objective on shares of Procter & Gamble from $175.00 to $173.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $175.88.

Procter & Gamble Trading Up 0.4%

Procter & Gamble stock traded up $0.54 during trading on Thursday, reaching $153.40. 6,717,362 shares of the company were exchanged, compared to its average volume of 8,092,659. The stock's 50 day simple moving average is $158.59 and its two-hundred day simple moving average is $163.74. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.70 and a quick ratio of 0.49. The company has a market capitalization of $359.32 billion, a P/E ratio of 23.56, a PEG ratio of 4.03 and a beta of 0.37. Procter & Gamble Company has a 52-week low of $149.91 and a 52-week high of $180.43.

Procter & Gamble (NYSE:PG - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.06. Procter & Gamble had a net margin of 18.95% and a return on equity of 32.69%. The firm had revenue of $20.89 billion during the quarter, compared to analysts' expectations of $20.79 billion. During the same period last year, the business earned $1.40 earnings per share. Procter & Gamble's revenue was up 1.7% compared to the same quarter last year. On average, equities research analysts expect that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be paid a dividend of $1.0568 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $4.23 annualized dividend and a yield of 2.8%. Procter & Gamble's dividend payout ratio (DPR) is 64.98%.

Procter & Gamble Company Profile

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.