EverSource Wealth Advisors LLC Buys 2,838 Shares of Procter & Gamble Company (The) (NYSE:PG)

Key Points

• EverSource Wealth Advisors LLC increased its stake in Procter & Gamble by 18.2%, purchasing an additional 2,838 shares, bringing their total holdings to 18,420 shares valued at approximately $3.14 million.
• Procter & Gamble recently reported a quarterly EPS of $1.48, exceeding analysts' expectations, with revenue of $20.89 billion, marking a 1.7% year-over-year increase.
• The company declared a quarterly dividend of $1.0568, resulting in an annualized yield of 2.7% and a payout ratio of 64.98%.

EverSource Wealth Advisors LLC lifted its stake in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 18.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,420 shares of the company's stock after purchasing an additional 2,838 shares during the period. EverSource Wealth Advisors LLC's holdings in Procter & Gamble were worth $3,139,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PG. Northern Trust Corp lifted its stake in Procter & Gamble by 10.1% in the fourth quarter. Northern Trust Corp now owns 29,395,208 shares of the company's stock worth $4,928,107,000 after acquiring an additional 2,703,757 shares during the period. Goldman Sachs Group Inc. lifted its stake in Procter & Gamble by 3.5% in the first quarter. Goldman Sachs Group Inc. now owns 17,405,539 shares of the company's stock worth $2,966,252,000 after acquiring an additional 583,629 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Procter & Gamble by 1.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 17,090,898 shares of the company's stock worth $2,911,989,000 after acquiring an additional 208,991 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Procter & Gamble by 15.8% in the fourth 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 during the period. Finally, Invesco Ltd. lifted its stake in Procter & Gamble by 19.8% in the first 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 during the period. 65.77% of the stock is currently owned by institutional investors.

Procter & Gamble Stock Performance

Shares of Procter & Gamble stock opened at $154.30 on Friday. The firm has a market capitalization of $361.43 billion, a P/E ratio of 23.70, a PEG ratio of 4.06 and a beta of 0.37. The company has a quick ratio of 0.49, a current ratio of 0.70 and a debt-to-equity ratio of 0.49. The company has a 50 day moving average price of $157.19 and a 200 day moving average price of $163.29. 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 announced its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.42 by $0.06. The firm had revenue of $20.89 billion during the quarter, compared to analyst estimates of $20.79 billion. Procter & Gamble had a net margin of 18.95% and a return on equity of 32.69%. Procter & Gamble's revenue was up 1.7% on a year-over-year basis. During the same period last year, the firm posted $1.40 EPS. Sell-side analysts expect that Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 18th were issued a $1.0568 dividend. This represents a $4.23 annualized dividend and a yield of 2.7%. The ex-dividend date was Friday, July 18th. Procter & Gamble's dividend payout ratio is 64.98%.

Wall Street Analyst Weigh In

PG has been the subject of a number of research reports. Royal Bank Of Canada raised shares of Procter & Gamble from a "sector perform" rating to an "outperform" rating and upped their price objective for the stock from $164.00 to $177.00 in a research note on Friday, April 25th. Redburn Atlantic lowered 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 report on Thursday, May 1st. Wells Fargo & Company decreased their price target on shares of Procter & Gamble from $175.00 to $173.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. UBS Group set a $180.00 price target on shares of Procter & Gamble and gave the company a "buy" rating in a research report on Wednesday, July 30th. Finally, Truist Financial decreased their price target 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. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $175.94.

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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