Cove Private Wealth LLC Raises Holdings in Procter & Gamble Company (The) (NYSE:PG)

Key Points

• Cove Private Wealth LLC increased its stake in Procter & Gamble by 139.4% in Q1, now holding 4,310 shares valued at approximately $735,000.
• Procter & Gamble's stock currently has an average rating of "Moderate Buy" with a target price of approximately $175.88.
• The company announced a quarterly dividend of $1.0568 per share, translating to an annualized yield of 2.8%.

Cove Private Wealth LLC boosted its stake in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 139.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,310 shares of the company's stock after acquiring an additional 2,510 shares during the quarter. Cove Private Wealth LLC's holdings in Procter & Gamble were worth $735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of PG. Northern Trust Corp lifted its holdings in Procter & Gamble by 10.1% in the 4th quarter. Northern Trust Corp now owns 29,395,208 shares of the company's stock worth $4,928,107,000 after buying an additional 2,703,757 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Procter & Gamble by 3.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 17,405,539 shares of the company's stock worth $2,966,252,000 after buying an additional 583,629 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Procter & Gamble by 1.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 17,090,898 shares of the company's stock worth $2,911,989,000 after buying an additional 208,991 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Procter & Gamble by 15.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,274,563 shares of the company's stock worth $2,728,430,000 after acquiring an additional 2,224,912 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Procter & Gamble by 19.8% in the 1st quarter. Invesco Ltd. now owns 13,493,604 shares of the company's stock worth $2,299,580,000 after acquiring an additional 2,228,151 shares in the last quarter. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Barclays set a $164.00 target price on Procter & Gamble and gave the stock an "equal weight" rating in a research report on Thursday, July 31st. Morgan Stanley set a $180.00 target price on Procter & Gamble and gave the stock an "overweight" rating in a research report on Friday, April 25th. Raymond James Financial decreased their target price on Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating for the company in a research report on Friday, April 25th. Wells Fargo & Company decreased their target price on Procter & Gamble from $175.00 to $173.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Finally, Truist Financial decreased their target price on Procter & Gamble from $185.00 to $180.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Procter & Gamble currently has an average rating of "Moderate Buy" and an average target price of $175.88.

Procter & Gamble Stock Up 0.0%

Procter & Gamble stock opened at $153.55 on Monday. The firm has a market cap of $359.67 billion, a price-to-earnings ratio of 23.59, a PEG ratio of 4.05 and a beta of 0.37. The stock has a fifty day simple moving average of $158.26 and a two-hundred day simple moving average of $163.66. Procter & Gamble Company has a 12 month low of $149.91 and a 12 month high of $180.43. The company has a current ratio of 0.70, a quick ratio of 0.49 and a debt-to-equity ratio of 0.49.

Procter & Gamble (NYSE:PG - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, topping analysts' consensus estimates of $1.42 by $0.06. The business had revenue of $20.89 billion during the quarter, compared to analyst estimates of $20.79 billion. Procter & Gamble had a return on equity of 32.69% and a net margin of 18.95%. The company's quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.40 EPS. Equities analysts predict that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

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 issued a $1.0568 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.8%. Procter & Gamble's dividend payout ratio (DPR) is presently 64.98%.

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.

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