Channel Wealth LLC Raises Stake in The Procter & Gamble Company (NYSE:PG)

Channel Wealth LLC grew its stake in The Procter & Gamble Company (NYSE:PG - Free Report) by 12.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,170 shares of the company's stock after buying an additional 1,777 shares during the period. Channel Wealth LLC's holdings in Procter & Gamble were worth $2,756,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Lakeridge Wealth Management LLC boosted its holdings in shares of Procter & Gamble by 0.6% in the 4th quarter. Lakeridge Wealth Management LLC now owns 10,807 shares of the company's stock valued at $1,812,000 after buying an additional 60 shares in the last quarter. Kolinsky Wealth Management LLC boosted its holdings in shares of Procter & Gamble by 1.1% in the 4th quarter. Kolinsky Wealth Management LLC now owns 5,738 shares of the company's stock valued at $962,000 after buying an additional 64 shares in the last quarter. Retirement Planning Group LLC boosted its holdings in shares of Procter & Gamble by 1.4% in the 4th quarter. Retirement Planning Group LLC now owns 4,704 shares of the company's stock valued at $789,000 after buying an additional 64 shares in the last quarter. First Citizens Financial Corp boosted its holdings in shares of Procter & Gamble by 1.8% in the 1st quarter. First Citizens Financial Corp now owns 3,664 shares of the company's stock valued at $624,000 after buying an additional 64 shares in the last quarter. Finally, Tevis Investment Management boosted its holdings in shares of Procter & Gamble by 0.6% in the 4th quarter. Tevis Investment Management now owns 11,633 shares of the company's stock valued at $1,950,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Piper Sandler increased their price target on shares of Procter & Gamble from $160.00 to $164.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Morgan Stanley set a $180.00 price target on shares of Procter & Gamble and gave the stock an "overweight" rating in a research note on Friday, April 25th. Redburn Atlantic cut shares of Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 price target for the company. in a research note on Thursday, May 1st. Evercore ISI reiterated an "outperform" rating and set a $190.00 price target (up previously from $170.00) on shares of Procter & Gamble in a research note on Tuesday, June 3rd. Finally, Redburn Partners set a $161.00 price target on shares of Procter & Gamble in a research note on Thursday, May 1st. Eight research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $178.86.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, CEO Jennifer L. Davis sold 1,000 shares of the firm's stock in a transaction dated 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 directly owns 51,965 shares in the company, valued at approximately $8,386,111.70. This trade represents a 1.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the firm's stock in a transaction dated 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 transaction, the insider now owns 25,182 shares of the company's stock, valued at $3,995,627.94. This trade represents a 29.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Procter & Gamble Price Performance

Shares of PG traded up $1.21 during trading hours on Friday, reaching $164.01. The company had a trading volume of 5,692,762 shares, compared to its average volume of 7,335,112. The firm has a 50 day simple moving average of $164.01 and a 200-day simple moving average of $167.21. 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 company has a market capitalization of $384.53 billion, a price-to-earnings ratio of 26.12, a PEG 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 announced 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. The business had revenue of $19.78 billion during the quarter, compared to the consensus estimate of $20.42 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The business's revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.52 EPS. Research analysts expect that The Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Increases Dividend

The firm also recently announced 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 an increase from Procter & Gamble's previous quarterly dividend of $1.01. This represents a $4.23 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend was Monday, April 21st. Procter & Gamble's dividend payout ratio (DPR) is 66.98%.

About Procter & Gamble

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.