Texas Capital Bank Wealth Management Services Inc increased its stake in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 27.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,206 shares of the company's stock after purchasing an additional 2,174 shares during the period. Texas Capital Bank Wealth Management Services Inc's holdings in Procter & Gamble were worth $1,739,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PG. Navigoe LLC acquired a new position in Procter & Gamble in the 4th quarter worth $31,000. Capital A Wealth Management LLC acquired a new position in Procter & Gamble in the 4th quarter worth $31,000. 10Elms LLP acquired a new position in Procter & Gamble in the 4th quarter worth $34,000. Sunbeam Capital Management LLC bought a new stake in Procter & Gamble during the 4th quarter worth about $34,000. Finally, Mizuho Securities Co. Ltd. lifted its position in Procter & Gamble by 566.7% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock worth $34,000 after buying an additional 170 shares in the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
PG has been the topic of several analyst reports. Erste Group Bank cut shares of Procter & Gamble from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Redburn Partners set a $161.00 price target on shares of Procter & Gamble in a research report on Thursday, May 1st. Evercore ISI reissued an "in-line" rating and set a $170.00 price target (down from $190.00) on shares of Procter & Gamble in a research report on Monday, July 14th. Piper Sandler boosted their price target on shares of Procter & Gamble from $160.00 to $164.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $170.00 target price (down from $178.00) on shares of Procter & Gamble in a report on Friday, July 25th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Procter & Gamble presently has an average rating of "Moderate Buy" and an average price target of $175.94.
Get Our Latest Report on Procter & Gamble
Procter & Gamble Stock Up 0.9%
Shares of PG opened at $155.68 on Tuesday. Procter & Gamble Company has a 52 week low of $149.91 and a 52 week high of $180.43. The firm has a market cap of $364.66 billion, a P/E ratio of 23.91, a price-to-earnings-growth ratio of 4.07 and a beta of 0.37. The firm's 50-day simple moving average is $157.05 and its 200 day simple moving average is $163.17. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.49 and a current ratio of 0.70.
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, beating analysts' consensus estimates of $1.42 by $0.06. Procter & Gamble had a net margin of 18.95% and a return on equity of 32.69%. The business 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 earned $1.40 EPS. Procter & Gamble's quarterly revenue was up 1.7% on a year-over-year basis. On average, analysts forecast that Procter & Gamble Company will post 6.91 earnings per share for the current year.
Procter & Gamble Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 18th were paid a $1.0568 dividend. The ex-dividend date was Friday, July 18th. This represents a $4.23 dividend on an annualized basis and a yield of 2.7%. Procter & Gamble's dividend payout ratio is 64.98%.
About Procter & Gamble
(
Free Report)
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.
Further Reading
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