OneAscent Investment Solutions LLC Acquires New Position in Procter & Gamble Company (The) (NYSE:PG)

Key Points

• OneAscent Investment Solutions LLC acquired a new position in Procter & Gamble, purchasing 2,439 shares valued at approximately $416,000 during the first quarter.
• Procter & Gamble reported a Q2 EPS of $1.48, surpassing estimates and showing a year-over-year revenue increase of 1.7% to $20.89 billion.
• The company declared a quarterly dividend of $1.0568 per share, with an annualized yield of 2.7%, set to be paid on August 15th to investors of record from July 18th.

OneAscent Investment Solutions LLC acquired a new stake in Procter & Gamble Company (The) (NYSE:PG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,439 shares of the company's stock, valued at approximately $416,000.

A number of other hedge funds have also recently modified their holdings of the company. Navigoe LLC purchased a new position in Procter & Gamble during the fourth quarter worth about $31,000. Capital A Wealth Management LLC purchased a new position in Procter & Gamble during the fourth quarter worth about $31,000. 10Elms LLP purchased a new position in Procter & Gamble during the fourth quarter worth about $34,000. Sunbeam Capital Management LLC purchased a new position in Procter & Gamble during the fourth quarter worth about $34,000. Finally, Mizuho Securities Co. Ltd. boosted its stake in Procter & Gamble by 566.7% during the first quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock worth $34,000 after buying an additional 170 shares during the period. Hedge funds and other institutional investors own 65.77% of the company's stock.

Procter & Gamble Stock Up 0.2%

NYSE PG opened at $155.37 on Thursday. The stock has a market cap of $363.93 billion, a PE ratio of 23.87, a P/E/G ratio of 4.09 and a beta of 0.37. Procter & Gamble Company has a fifty-two week low of $149.91 and a fifty-two week high of $180.43. The business has a 50 day moving average price of $157.56 and a two-hundred day moving average price of $163.48. The company has a quick ratio of 0.49, a current ratio of 0.70 and a debt-to-equity ratio of 0.49.

Procter & Gamble (NYSE:PG - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, beating the consensus estimate 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%. The business's revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.40 EPS. As a group, sell-side analysts predict that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently declared 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 2.7%. The ex-dividend date of this dividend is Friday, July 18th. Procter & Gamble's dividend payout ratio is currently 64.98%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PG shares. Wells Fargo & Company lowered their target price on shares of Procter & Gamble from $175.00 to $173.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. Morgan Stanley set a $180.00 price target on shares of Procter & Gamble and gave the stock an "overweight" rating in a research report on Friday, April 25th. Redburn Atlantic cut shares of Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 price target on the stock. in a research report on Thursday, May 1st. Royal Bank Of Canada raised shares of Procter & Gamble from a "sector perform" rating to an "outperform" rating and increased their price target for the stock from $164.00 to $177.00 in a research report on Friday, April 25th. Finally, Citigroup reduced their price target on shares of Procter & Gamble from $200.00 to $181.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Procter & Gamble presently has an average rating of "Moderate Buy" and an average target price of $175.88.

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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