Meridian Wealth Advisors LLC Cuts Stock Position in Procter & Gamble Company (The) (NYSE:PG)

Meridian Wealth Advisors LLC lessened its stake in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 82.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,148 shares of the company's stock after selling 24,169 shares during the period. Meridian Wealth Advisors LLC's holdings in Procter & Gamble were worth $877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Navigoe LLC acquired a new position in Procter & Gamble during the 4th quarter worth about $31,000. Capital A Wealth Management LLC acquired a new stake in shares of Procter & Gamble in the 4th quarter valued at approximately $31,000. Hoey Investments Inc. raised its holdings in Procter & Gamble by 321.7% during the fourth quarter. Hoey Investments Inc. now owns 194 shares of the company's stock worth $33,000 after purchasing an additional 148 shares during the last quarter. 10Elms LLP purchased a new position in Procter & Gamble during the fourth quarter worth $34,000. Finally, Mizuho Securities Co. Ltd. grew its position in shares of Procter & Gamble by 566.7% in the first quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock valued at $34,000 after purchasing an additional 170 shares during the period. Institutional investors and hedge funds own 65.77% of the company's stock.

Procter & Gamble Stock Performance

Shares of NYSE PG opened at $155.08 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.71. The company has a market cap of $363.59 billion, a P/E ratio of 24.62, a P/E/G ratio of 4.41 and a beta of 0.40. The firm's fifty day moving average is $161.31 and its two-hundred day moving average is $164.42. Procter & Gamble Company has a 52-week low of $151.90 and a 52-week high of $180.43.

Procter & Gamble (NYSE:PG - Get Free Report) last released its quarterly earnings results 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 18.46% and a return on equity of 32.67%. The firm had revenue of $19.78 billion during the quarter, compared to analysts' expectations of $20.42 billion. During the same period in the previous year, the company earned $1.52 EPS. The firm's revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, analysts anticipate that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders 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 annualized dividend and a dividend yield of 2.73%. Procter & Gamble's dividend payout ratio is currently 67.14%.

Insider Activity at Procter & Gamble

In related news, insider Moses Victor Javier Aguilar sold 10,520 shares of the stock in a transaction 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 sale, the insider directly owned 25,182 shares of the company's stock, valued at approximately $3,995,627.94. This represents a 29.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jennifer L. Davis sold 1,000 shares of the company's stock in a transaction 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Bank of America lowered their price target on Procter & Gamble from $190.00 to $180.00 and set a "buy" rating for the company in a report on Friday, April 25th. Piper Sandler raised their price objective on Procter & Gamble from $160.00 to $164.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Truist Financial reduced their target price on Procter & Gamble from $185.00 to $180.00 and set a "buy" rating for the company in a report on Friday, April 25th. Erste Group Bank lowered Procter & Gamble from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 30th. Finally, Redburn Partners set a $161.00 target price on Procter & Gamble in a report on Thursday, May 1st. Nine research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Procter & Gamble presently has a consensus rating of "Moderate Buy" and an average price target of $176.84.

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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