Janney Montgomery Scott LLC grew its holdings in shares of The Procter & Gamble Company (NYSE:PG - Free Report) by 2.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 975,858 shares of the company's stock after purchasing an additional 24,886 shares during the quarter. Janney Montgomery Scott LLC's holdings in Procter & Gamble were worth $166,306,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of PG. Northstar Group Inc. increased its position in shares of Procter & Gamble by 1.7% during the first quarter. Northstar Group Inc. now owns 13,553 shares of the company's stock valued at $2,310,000 after buying an additional 230 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its stake in Procter & Gamble by 3.2% in the first quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 19,247 shares of the company's stock valued at $3,280,000 after acquiring an additional 596 shares during the last quarter. Brown Miller Wealth Management LLC raised its holdings in shares of Procter & Gamble by 7.1% during the 1st quarter. Brown Miller Wealth Management LLC now owns 22,402 shares of the company's stock valued at $3,818,000 after buying an additional 1,487 shares in the last quarter. Hanson & Doremus Investment Management raised its stake in shares of Procter & Gamble by 45.4% during the first quarter. Hanson & Doremus Investment Management now owns 21,704 shares of the company's stock worth $3,699,000 after acquiring an additional 6,772 shares in the last quarter. Finally, Traphagen Investment Advisors LLC lifted its holdings in shares of Procter & Gamble by 9.6% in the 1st quarter. Traphagen Investment Advisors LLC now owns 5,447 shares of the company's stock worth $928,000 after acquiring an additional 478 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company's stock.
Analysts Set New Price Targets
Several equities analysts recently commented on the stock. 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 report on Friday, April 25th. Raymond James reduced their price objective on Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Redburn Atlantic downgraded Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 price objective on the stock. in a report on Thursday, May 1st. Piper Sandler increased 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. Finally, Redburn Partners set a $161.00 price objective on Procter & Gamble in a report on Thursday, May 1st. Eight equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $178.86.
Check Out Our Latest Report on PG
Insider Activity
In related news, CEO Jennifer L. Davis sold 1,000 shares of the business's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total transaction of $161,380.00. Following the completion of the transaction, the chief executive officer now owns 51,965 shares in the company, valued at $8,386,111.70. The trade was a 1.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the company's 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 now directly owns 25,182 shares in the company, valued at $3,995,627.94. This trade represents a 29.47% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.
Procter & Gamble Trading Up 0.3%
Shares of NYSE PG traded up $0.51 during trading hours on Monday, hitting $160.79. 6,329,148 shares of the company traded hands, compared to its average volume of 7,377,763. The company's 50 day moving average price is $163.75 and its 200 day moving average price is $166.64. The Procter & Gamble Company has a 12 month low of $156.58 and a 12 month high of $180.43. The stock has a market capitalization of $376.99 billion, a price-to-earnings ratio of 25.60, a price-to-earnings-growth ratio of 3.76 and a beta of 0.43. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50.
Procter & Gamble (NYSE:PG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, beating analysts' consensus estimates of $1.53 by $0.01. The business had revenue of $19.78 billion for the quarter, compared to analysts' expectations of $20.42 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The business's revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.52 earnings per share. On average, equities research analysts anticipate that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal 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 paid a $1.0568 dividend. The ex-dividend date was Monday, April 21st. This represents a $4.23 annualized dividend and a yield of 2.63%. This is an increase from Procter & Gamble's previous quarterly dividend of $1.01. Procter & Gamble's dividend payout ratio (DPR) is presently 66.98%.
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.
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