QRG Capital Management Inc. raised its position in The Procter & Gamble Company (NYSE:PG - Free Report) by 2.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 400,620 shares of the company's stock after buying an additional 11,231 shares during the quarter. Procter & Gamble comprises about 0.7% of QRG Capital Management Inc.'s holdings, making the stock its 20th largest position. QRG Capital Management Inc.'s holdings in Procter & Gamble were worth $68,274,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of PG. Sagespring Wealth Partners LLC boosted its position in shares of Procter & Gamble by 10.0% during the 1st quarter. Sagespring Wealth Partners LLC now owns 50,649 shares of the company's stock worth $8,632,000 after purchasing an additional 4,596 shares in the last quarter. Great Lakes Retirement Inc. boosted its position in shares of Procter & Gamble by 3.2% during the 1st quarter. Great Lakes Retirement Inc. now owns 17,603 shares of the company's stock worth $3,000,000 after purchasing an additional 554 shares in the last quarter. Lorne Steinberg Wealth Management Inc. boosted its position in shares of Procter & Gamble by 6.6% during the 1st quarter. Lorne Steinberg Wealth Management Inc. now owns 2,555 shares of the company's stock worth $435,000 after purchasing an additional 158 shares in the last quarter. Sowell Financial Services LLC boosted its position in shares of Procter & Gamble by 8.2% during the 1st quarter. Sowell Financial Services LLC now owns 31,210 shares of the company's stock worth $5,319,000 after purchasing an additional 2,368 shares in the last quarter. Finally, Montecito Bank & Trust boosted its position in shares of Procter & Gamble by 0.9% during the 1st quarter. Montecito Bank & Trust now owns 31,790 shares of the company's stock worth $5,418,000 after purchasing an additional 294 shares in the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.
Procter & Gamble Stock Down 1.9%
PG opened at $160.06 on Monday. The firm has a 50 day moving average price of $163.75 and a 200 day moving average price of $166.64. The company has a market cap of $375.27 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 3.76 and a beta of 0.43. The Procter & Gamble Company has a 1 year low of $156.58 and a 1 year high of $180.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76.
Procter & Gamble (NYSE:PG - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.53 by $0.01. The firm had revenue of $19.78 billion during the quarter, compared to the consensus estimate of $20.42 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The company's revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.52 EPS. Sell-side analysts expect that The Procter & Gamble Company will post 6.91 earnings per share for the current year.
Procter & Gamble Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were given a $1.0568 dividend. This is an increase from Procter & Gamble's previous quarterly dividend of $1.01. The ex-dividend date was Monday, April 21st. This represents a $4.23 annualized dividend and a yield of 2.64%. Procter & Gamble's dividend payout ratio (DPR) is 66.98%.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the stock. Morgan Stanley set a $180.00 price objective on shares of Procter & Gamble and gave the stock an "overweight" rating in a research report on Friday, April 25th. Truist Financial decreased their price objective on shares of Procter & Gamble from $185.00 to $180.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Piper Sandler boosted their price objective 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. Erste Group Bank lowered shares of Procter & Gamble from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Finally, Redburn Partners set a $161.00 price objective on shares of Procter & Gamble in a research report on Thursday, May 1st. Eight research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $178.86.
Read Our Latest Report on Procter & Gamble
Insider Buying and Selling at Procter & Gamble
In other news, insider Moses Victor Javier Aguilar sold 10,520 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the completion of the transaction, the insider now directly owns 25,182 shares in the company, valued at approximately $3,995,627.94. This represents a 29.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jennifer L. Davis sold 1,000 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total value of $161,380.00. Following the transaction, the chief executive officer now owns 51,965 shares of the company's stock, valued at approximately $8,386,111.70. This trade represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.
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.
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