Hennessy Advisors Inc. Has $9.37 Million Holdings in The Procter & Gamble Company (NYSE:PG)

Hennessy Advisors Inc. raised its stake in shares of The Procter & Gamble Company (NYSE:PG - Free Report) by 24.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,950 shares of the company's stock after buying an additional 10,700 shares during the period. Hennessy Advisors Inc.'s holdings in Procter & Gamble were worth $9,365,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NewSquare Capital LLC increased its stake in Procter & Gamble by 933.3% during the fourth quarter. NewSquare Capital LLC now owns 155 shares of the company's stock valued at $26,000 after acquiring an additional 140 shares during the period. Navigoe LLC bought a new position in Procter & Gamble during the fourth quarter valued at about $31,000. Capital A Wealth Management LLC bought a new position in Procter & Gamble during the fourth quarter valued at about $31,000. Hoey Investments Inc. increased its stake in Procter & Gamble by 321.7% during the fourth quarter. Hoey Investments Inc. now owns 194 shares of the company's stock valued at $33,000 after acquiring an additional 148 shares during the period. Finally, LFA Lugano Financial Advisors SA bought a new position in Procter & Gamble during the fourth quarter valued at about $34,000. 65.77% of the stock is owned by institutional investors and hedge funds.

Procter & Gamble Stock Down 1.9%

Shares of Procter & Gamble stock traded down $3.12 during trading hours on Friday, reaching $160.06. 7,093,816 shares of the company's stock were exchanged, compared to its average volume of 7,381,974. The company has a 50 day moving average of $163.75 and a two-hundred day moving average of $166.73. The Procter & Gamble Company has a fifty-two week low of $156.58 and a fifty-two week high of $180.43. 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 stock has a market cap of $375.27 billion, a P/E ratio of 25.49, a P/E/G ratio of 3.76 and a beta of 0.43.

Procter & Gamble (NYSE:PG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $1.54 EPS for the quarter, topping analysts' consensus estimates of $1.53 by $0.01. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The company had revenue of $19.78 billion during the quarter, compared to the consensus estimate of $20.42 billion. During the same period in the prior year, the business posted $1.52 EPS. The company's quarterly revenue was down 2.1% on a year-over-year basis. On average, sell-side analysts forecast that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, April 21st were paid a dividend of $1.0568 per share. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.64%. This is an increase from Procter & Gamble's previous quarterly dividend of $1.01. The ex-dividend date of this dividend was Monday, April 21st. Procter & Gamble's dividend payout ratio is currently 66.98%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PG. Erste Group Bank downgraded Procter & Gamble from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Bank of America decreased their price objective on Procter & Gamble from $190.00 to $180.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Truist Financial decreased 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. Citigroup decreased their price objective on Procter & Gamble from $200.00 to $181.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Finally, Royal Bank of Canada raised Procter & Gamble from a "sector perform" rating to an "outperform" rating and boosted their target price for the stock from $164.00 to $177.00 in a report on Friday, April 25th. Eight analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Procter & Gamble currently has a consensus rating of "Moderate Buy" and an average price target of $178.86.

Insider Activity 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 that occurred on 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 completion of the sale, the insider now directly owns 25,182 shares in the company, valued at $3,995,627.94. This trade represents a 29.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jennifer L. Davis sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total transaction of $161,380.00. Following the sale, the chief executive officer now owns 51,965 shares of the company's stock, valued at $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.

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.