Concurrent Investment Advisors LLC lifted its holdings in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 26.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 120,002 shares of the company's stock after purchasing an additional 25,059 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Procter & Gamble were worth $20,451,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of the business. Cladis Investment Advisory LLC grew its position in Procter & Gamble by 5.2% in the 4th quarter. Cladis Investment Advisory LLC now owns 4,807 shares of the company's stock valued at $806,000 after acquiring an additional 236 shares in the last quarter. FAS Wealth Partners Inc. grew its position in Procter & Gamble by 2.0% in the 4th quarter. FAS Wealth Partners Inc. now owns 27,690 shares of the company's stock valued at $4,642,000 after acquiring an additional 549 shares in the last quarter. Berkshire Asset Management LLC PA grew its position in Procter & Gamble by 0.9% in the 4th quarter. Berkshire Asset Management LLC PA now owns 236,616 shares of the company's stock valued at $38,833,000 after acquiring an additional 2,179 shares in the last quarter. Natural Investments LLC acquired a new position in Procter & Gamble in the 4th quarter valued at about $2,121,000. Finally, Capital Investment Advisory Services LLC boosted its stake in shares of Procter & Gamble by 13.8% in the 1st quarter. Capital Investment Advisory Services LLC now owns 37,709 shares of the company's stock valued at $6,426,000 after buying an additional 4,562 shares during the period. 65.77% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
PG has been the subject of several research analyst reports. Citigroup decreased their price objective on Procter & Gamble from $200.00 to $181.00 and set a "buy" rating for the company in a report on Friday, April 25th. Morgan Stanley set a $180.00 price objective on Procter & Gamble and gave the company an "overweight" rating in a report on Friday, April 25th. Piper Sandler increased their price objective on Procter & Gamble from $160.00 to $164.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Bank of America cut their price target on Procter & Gamble from $190.00 to $180.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, Truist Financial dropped their price objective on Procter & Gamble from $185.00 to $180.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $178.45.
Read Our Latest Report on PG
Procter & Gamble Price Performance
Shares of NYSE:PG traded down $0.48 on Friday, hitting $160.72. The company had a trading volume of 6,999,589 shares, compared to its average volume of 7,494,586. The company has a current ratio of 0.71, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47. Procter & Gamble Company has a 52-week low of $156.58 and a 52-week high of $180.43. The business has a 50 day moving average of $162.10 and a 200 day moving average of $165.25. The company has a market cap of $376.82 billion, a PE ratio of 25.51, a PEG ratio of 4.58 and a beta of 0.40.
Procter & Gamble (NYSE:PG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.53 by $0.01. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.46%. The firm had revenue of $19.78 billion for the quarter, compared to analyst estimates of $20.42 billion. During the same period last year, the company earned $1.52 EPS. The firm's quarterly revenue was down 2.1% on a year-over-year basis. As a group, equities analysts anticipate that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.
Procter & Gamble Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were paid a $1.0568 dividend. This represents a $4.23 dividend on an annualized basis and a yield of 2.63%. This is a positive change from Procter & Gamble's previous quarterly dividend of $1.01. The ex-dividend date was Monday, April 21st. Procter & Gamble's dividend payout ratio (DPR) is presently 67.14%.
Insider Transactions at Procter & Gamble
In other Procter & Gamble news, insider Moses Victor Javier Aguilar sold 10,520 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $158.67, for a total value of $1,669,208.40. Following the sale, the insider directly owned 25,182 shares of the company's stock, valued at approximately $3,995,627.94. This trade represents a 29.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jennifer L. Davis sold 1,000 shares of the firm's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total value of $161,380.00. Following the completion of the transaction, the chief executive officer owned 51,965 shares in the company, valued at approximately $8,386,111.70. This trade represents a 1.89% 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 company insiders.
About Procter & Gamble
(
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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