Meritage Portfolio Management Has $10.10 Million Stake in Procter & Gamble Company (The) (NYSE:PG)

Meritage Portfolio Management cut its position in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 6.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 59,240 shares of the company's stock after selling 3,948 shares during the quarter. Meritage Portfolio Management's holdings in Procter & Gamble were worth $10,096,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PG. NewSquare Capital LLC grew its holdings in shares of Procter & Gamble by 933.3% during the fourth quarter. NewSquare Capital LLC now owns 155 shares of the company's stock worth $26,000 after buying an additional 140 shares in the last quarter. Navigoe LLC bought a new position in Procter & Gamble in the fourth quarter valued at approximately $31,000. Capital A Wealth Management LLC bought a new position in Procter & Gamble in the fourth quarter valued at approximately $31,000. Hoey Investments Inc. grew its stake in Procter & Gamble by 321.7% in the fourth quarter. Hoey Investments Inc. now owns 194 shares of the company's stock valued at $33,000 after purchasing an additional 148 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA bought a new position in Procter & Gamble in the fourth quarter valued at approximately $34,000. 65.77% of the stock is currently owned by institutional investors.

Procter & Gamble Stock Performance

NYSE:PG traded down $0.48 during mid-day trading on Friday, hitting $160.72. 6,999,589 shares of the stock were exchanged, compared to its average volume of 7,494,586. The stock has a market capitalization of $376.82 billion, a price-to-earnings ratio of 25.51, a price-to-earnings-growth ratio of 4.58 and a beta of 0.40. The firm's 50-day simple moving average is $162.10 and its 200 day simple moving average is $165.25. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.71. Procter & Gamble Company has a fifty-two week low of $156.58 and a fifty-two week high of $180.43.

Procter & Gamble (NYSE:PG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.01. The firm had revenue of $19.78 billion during the quarter, compared to analysts' expectations of $20.42 billion. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.46%. The company's quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.52 EPS. As a group, equities analysts anticipate that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were issued a $1.0568 dividend. The ex-dividend date was Monday, April 21st. This is a boost from Procter & Gamble's previous quarterly dividend of $1.01. This represents a $4.23 annualized dividend and a yield of 2.63%. Procter & Gamble's payout ratio is currently 67.14%.

Analyst Ratings Changes

A number of research analysts have weighed in on PG shares. Truist Financial decreased their price target on Procter & Gamble from $185.00 to $180.00 and set a "buy" rating for the company in a research note on Friday, April 25th. JPMorgan Chase & Co. decreased their price target on Procter & Gamble from $181.00 to $172.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Barclays restated an "equal weight" rating on shares of Procter & Gamble in a research note on Thursday, March 27th. Piper Sandler raised their price target on Procter & Gamble from $160.00 to $164.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Finally, Bank of America decreased their price target on Procter & Gamble from $190.00 to $180.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Eight analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Procter & Gamble currently has a consensus rating of "Moderate Buy" and a consensus price target of $178.45.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, CEO Jennifer L. Davis sold 1,000 shares of Procter & Gamble stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total value of $161,380.00. Following the completion of the transaction, the chief executive officer directly owned 51,965 shares of the company's stock, valued at $8,386,111.70. The trade was a 1.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of Procter & Gamble stock in a transaction on Monday, May 5th. The shares were sold at an average price of $158.67, for a total value of $1,669,208.40. Following the completion of the transaction, the insider directly owned 25,182 shares of the company's stock, valued at $3,995,627.94. This represents a 29.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

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.