Palacios Wealth Management LLC Buys New Stake in Procter & Gamble Company (The) (NYSE:PG)

Key Points

• Palacios Wealth Management LLC has acquired 257,260 shares of Procter & Gamble, making it the firm's second largest position, valued at approximately $43.84 million.
• Procter & Gamble reported earnings of $1.48 per share for the last quarter, exceeding analyst expectations of $1.42, with a year-over-year revenue increase of 1.7%.
• The company announced a quarterly dividend of $1.0568 per share, reflecting an annualized dividend yield of 2.8%, with a payout ratio of 64.98%.

Palacios Wealth Management LLC bought a new position in Procter & Gamble Company (The) (NYSE:PG - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 257,260 shares of the company's stock, valued at approximately $43,842,000. Procter & Gamble comprises approximately 21.2% of Palacios Wealth Management LLC's portfolio, making the stock its 2nd largest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of Procter & Gamble by 51.5% in the fourth quarter. Brighton Jones LLC now owns 40,068 shares of the company's stock valued at $6,717,000 after acquiring an additional 13,617 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in shares of Procter & Gamble by 493.6% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 341,750 shares of the company's stock valued at $57,294,000 after acquiring an additional 284,174 shares in the last quarter. FIL Ltd boosted its holdings in shares of Procter & Gamble by 0.6% in the fourth quarter. FIL Ltd now owns 3,748,011 shares of the company's stock valued at $628,354,000 after acquiring an additional 21,015 shares in the last quarter. Shelton Capital Management boosted its holdings in shares of Procter & Gamble by 19.2% in the fourth quarter. Shelton Capital Management now owns 106,543 shares of the company's stock valued at $17,862,000 after acquiring an additional 17,166 shares in the last quarter. Finally, Sandhill Capital Partners LLC lifted its stake in Procter & Gamble by 0.6% during the fourth quarter. Sandhill Capital Partners LLC now owns 39,367 shares of the company's stock valued at $6,600,000 after purchasing an additional 226 shares during the last quarter. Institutional investors own 65.77% of the company's stock.

Procter & Gamble Stock Up 0.0%

PG stock traded up $0.06 during midday trading on Friday, reaching $153.55. The company had a trading volume of 5,810,954 shares, compared to its average volume of 8,068,523. Procter & Gamble Company has a 1 year low of $149.91 and a 1 year high of $180.43. The company has a current ratio of 0.70, a quick ratio of 0.49 and a debt-to-equity ratio of 0.49. The company has a market capitalization 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 50 day moving average of $158.26 and a two-hundred day moving average of $163.68.

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

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be paid a $1.0568 dividend. The ex-dividend date is Friday, July 18th. This represents a $4.23 dividend on an annualized basis and a yield of 2.8%. Procter & Gamble's dividend payout ratio (DPR) is presently 64.98%.

Analyst Ratings Changes

Several research firms recently commented on PG. Citigroup cut their target price on shares of Procter & Gamble from $200.00 to $181.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Truist Financial cut their target price on shares of Procter & Gamble from $185.00 to $180.00 and set a "buy" rating for the company in a research note on Friday, April 25th. UBS Group set a $180.00 target price on shares of Procter & Gamble and gave the company a "buy" rating in a research note on Wednesday, July 30th. Royal Bank Of Canada raised shares of Procter & Gamble from a "sector perform" rating to an "outperform" rating and increased their target price for the company from $164.00 to $177.00 in a research note on Friday, April 25th. Finally, Piper Sandler upped their price target on shares of Procter & Gamble from $160.00 to $164.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Seven equities research 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. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $175.88.

Procter & Gamble 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.