Oppenheimer Asset Management Inc. Invests $12.70 Million in Procter & Gamble Company (The) $PG

Key Points

• Oppenheimer Asset Management purchased 86,605 Procter & Gamble shares in the second quarter, investing approximately $12.7 million. Hedge funds and institutional investors collectively own 65.77% of PG.
• Procter & Gamble reported quarterly EPS of $1.43, beating estimates by $0.02, while revenue rose 1.5% year over year to $21.20 billion but fell short of expectations.
• P&G maintains a quarterly dividend of $1.0885, or $4.35 annually, yielding about 3.0%. Analysts give the stock a “Moderate Buy” consensus rating with an average price target of $161.52.

Oppenheimer Asset Management Inc. purchased a new stake in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 86,605 shares of the company's stock, valued at approximately $12,700,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. boosted its stake in Procter & Gamble by 1,000.0% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 165 shares of the company's stock valued at $25,000 after purchasing an additional 150 shares during the last quarter. Litman Gregory Wealth Management LLC purchased a new position in shares of Procter & Gamble in the fourth quarter worth $26,000. Park Square Financial Group LLC lifted its holdings in shares of Procter & Gamble by 65.1% during the fourth quarter. Park Square Financial Group LLC now owns 180 shares of the company's stock valued at $26,000 after purchasing an additional 71 shares in the last quarter. Evolution Wealth Management Inc. boosted its position in shares of Procter & Gamble by 1,315.4% during the fourth quarter. Evolution Wealth Management Inc. now owns 184 shares of the company's stock valued at $26,000 after buying an additional 171 shares during the last quarter. Finally, Basso Capital Management L.P. purchased a new stake in shares of Procter & Gamble during the fourth quarter valued at $28,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Procter & Gamble Stock Up 0.7%

Procter & Gamble stock opened at $144.47 on Thursday. Procter & Gamble Company has a one year low of $137.62 and a one year high of $167.25. The stock has a fifty day moving average of $147.94 and a 200 day moving average of $148.78. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.47 and a current ratio of 0.68. The stock has a market cap of $335.82 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 4.42 and a beta of 0.39.

Procter & Gamble (NYSE:PG - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.02. The business had revenue of $21.20 billion for the quarter, compared to analysts' expectations of $21.38 billion. Procter & Gamble had a return on equity of 31.36% and a net margin of 18.44%.The business's revenue for the quarter was up 1.5% on a year-over-year basis. During the same period last year, the firm posted $1.48 earnings per share. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. As a group, sell-side analysts predict that Procter & Gamble Company will post 6.98 EPS for the current year.

Procter & Gamble Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, July 24th were issued a $1.0885 dividend. The ex-dividend date of this dividend was Friday, July 24th. This represents a $4.35 dividend on an annualized basis and a dividend yield of 3.0%. Procter & Gamble's dividend payout ratio (DPR) is presently 65.71%.

Analysts Set New Price Targets

PG has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on Procter & Gamble from $164.00 to $162.00 and set an "overweight" rating for the company in a research report on Thursday, July 16th. Morgan Stanley dropped their price target on shares of Procter & Gamble from $175.00 to $166.00 and set an "overweight" rating on the stock in a report on Wednesday, April 22nd. TD Cowen lifted their price target on shares of Procter & Gamble from $142.00 to $150.00 and gave the stock a "hold" rating in a research note on Monday, April 27th. Rothschild & Co Redburn decreased their price objective on shares of Procter & Gamble from $157.00 to $155.00 and set a "neutral" rating for the company in a report on Monday, April 27th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Procter & Gamble in a report on Wednesday, June 24th. Thirteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, Procter & Gamble has an average rating of "Moderate Buy" and an average price target of $161.52.

Procter & Gamble Profile

Procter & Gamble NYSE: PG is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world's largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.

P&G's product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.

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