Meridian Wealth Management LLC Acquires 1,959 Shares of Procter & Gamble Company (The) (NYSE:PG)

Key Points

• Meridian Wealth Management LLC increased its holdings in Procter & Gamble by 3.3%, buying an additional 1,959 shares, bringing its total to 60,755 shares valued at approximately $10.35 million.
• Several large investors have made significant purchases in Procter & Gamble, with Nuveen LLC investing nearly $1.95 billion and GAMMA Investing LLC increasing its stake by over 20,000% in the first quarter.
• Procter & Gamble reported earnings of $1.48 per share for the last quarter, exceeding analysts' expectations, while also announcing a quarterly dividend of $1.0568, representing a yield of 2.8%.

Meridian Wealth Management LLC lifted its position in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 3.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,755 shares of the company's stock after buying an additional 1,959 shares during the period. Meridian Wealth Management LLC's holdings in Procter & Gamble were worth $10,354,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PG. Nuveen LLC purchased a new position in Procter & Gamble in the 1st quarter worth approximately $1,954,941,000. GAMMA Investing LLC increased its stake in Procter & Gamble by 20,758.5% in the 1st quarter. GAMMA Investing LLC now owns 7,951,456 shares of the company's stock worth $1,355,087,000 after purchasing an additional 7,913,335 shares during the period. Capital Research Global Investors increased its stake in Procter & Gamble by 62.5% in the 4th quarter. Capital Research Global Investors now owns 7,398,120 shares of the company's stock worth $1,240,294,000 after purchasing an additional 2,846,560 shares during the period. Northern Trust Corp increased its stake 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 purchasing an additional 2,703,757 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Procter & Gamble by 19.8% during the first quarter. Invesco Ltd. now owns 13,493,604 shares of the company's stock valued at $2,299,580,000 after buying an additional 2,228,151 shares during the period. 65.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PG. Raymond James Financial reduced their target price on Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Redburn Partners set a $161.00 target price on Procter & Gamble in a research note on Thursday, May 1st. Wells Fargo & Company reduced their target price on Procter & Gamble from $175.00 to $173.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Barclays set a $164.00 target price on Procter & Gamble and gave the company an "equal weight" rating in a research note on Thursday, July 31st. Finally, Erste Group Bank lowered Procter & Gamble from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Procter & Gamble currently has an average rating of "Moderate Buy" and an average price target of $175.88.

Procter & Gamble Trading Up 0.0%

Shares of NYSE:PG opened at $153.55 on Monday. The company has a market cap of $359.67 billion, a P/E ratio of 23.59, a PEG ratio of 4.05 and a beta of 0.37. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.70 and a quick ratio of 0.49. Procter & Gamble Company has a 1 year low of $149.91 and a 1 year high of $180.43. The stock's fifty day moving average price is $158.26 and its 200-day moving average price is $163.66.

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

Procter & Gamble Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be paid 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 is 64.98%.

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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