HB Wealth Management LLC Raises Stock Holdings in Procter & Gamble Company (The) (NYSE:PG)

Key Points

• HB Wealth Management LLC increased its holdings in Procter & Gamble by 23.6% during the first quarter, owning 267,664 shares now valued at approximately $45.6 million.
• Procter & Gamble announced a quarterly dividend of $1.0568 per share, yielding 2.67%, with payment scheduled for August 15.
• For the recent quarter, Procter & Gamble reported earnings of $1.54 per share, slightly beating analyst expectations, while experiencing a 2.1% decrease in revenue year-over-year.

HB Wealth Management LLC boosted its holdings in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 23.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 267,664 shares of the company's stock after buying an additional 51,071 shares during the quarter. HB Wealth Management LLC's holdings in Procter & Gamble were worth $45,615,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Mediolanum International Funds Ltd raised its position in Procter & Gamble by 1.3% in the 1st quarter. Mediolanum International Funds Ltd now owns 326,054 shares of the company's stock worth $54,787,000 after buying an additional 4,134 shares during the last quarter. Nvwm LLC raised its position in Procter & Gamble by 2.1% in the 1st quarter. Nvwm LLC now owns 9,390 shares of the company's stock worth $1,600,000 after buying an additional 191 shares during the last quarter. Knights of Columbus Asset Advisors LLC raised its position in Procter & Gamble by 796.9% in the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 56,251 shares of the company's stock worth $9,586,000 after buying an additional 49,979 shares during the last quarter. Bell & Brown Wealth Advisors LLC raised its position in Procter & Gamble by 2.8% in the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 17,848 shares of the company's stock worth $3,042,000 after buying an additional 487 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its position in Procter & Gamble by 8.1% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 584,749 shares of the company's stock worth $99,653,000 after buying an additional 43,829 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company's stock.

Procter & Gamble Stock Down 0.3%

PG stock opened at $158.28 on Friday. Procter & Gamble Company has a twelve month low of $151.90 and a twelve month high of $180.43. The company has a quick ratio of 0.50, a current ratio of 0.71 and a debt-to-equity ratio of 0.47. The stock has a market cap of $371.10 billion, a P/E ratio of 25.12, a PEG ratio of 4.52 and a beta of 0.40. The business's 50-day moving average price is $161.02 and its 200-day moving average price is $164.22.

Procter & Gamble (NYSE:PG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, beating 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 analysts' expectations of $20.42 billion. During the same period in the previous year, the firm earned $1.52 EPS. The business's quarterly revenue was down 2.1% on a year-over-year basis. On average, equities research analysts forecast that Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be given a dividend of $1.0568 per share. This represents a $4.23 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, July 18th. Procter & Gamble's dividend payout ratio is currently 67.14%.

Insider Activity

In related news, insider Moses Victor Javier Aguilar sold 10,520 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the completion of the sale, the insider owned 25,182 shares in the company, valued at approximately $3,995,627.94. This trade represents a 29.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jennifer L. Davis sold 1,000 shares of the 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 sale, the chief executive officer owned 51,965 shares of the company's stock, valued at $8,386,111.70. This represents a 1.89% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PG shares. 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. UBS Group dropped their target price on Procter & Gamble from $186.00 to $180.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. 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. Citigroup dropped their target price on Procter & Gamble from $200.00 to $181.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Finally, Royal Bank Of Canada raised Procter & Gamble from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $164.00 to $177.00 in a research report on Friday, April 25th. Nine research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $176.12.

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.

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