Verity Asset Management Inc. Buys New Shares in Procter & Gamble Company (The) (NYSE:PG)

Verity Asset Management Inc. bought a new position in Procter & Gamble Company (The) (NYSE:PG - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,704 shares of the company's stock, valued at approximately $461,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NewSquare Capital LLC lifted its position in Procter & Gamble by 933.3% during the fourth quarter. NewSquare Capital LLC now owns 155 shares of the company's stock valued at $26,000 after purchasing an additional 140 shares during the period. Navigoe LLC purchased a new position in shares of Procter & Gamble during the 4th quarter valued at about $31,000. Capital A Wealth Management LLC acquired a new position in shares of Procter & Gamble in the 4th quarter valued at about $31,000. Hoey Investments Inc. boosted its stake in shares of Procter & Gamble by 321.7% in the fourth quarter. Hoey Investments Inc. now owns 194 shares of the company's stock worth $33,000 after buying an additional 148 shares during the last quarter. Finally, LFA Lugano Financial Advisors SA acquired a new stake in Procter & Gamble during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 65.77% of the company's stock.

Insiders Place Their Bets

In related news, CEO Jennifer L. Davis sold 1,000 shares of the company's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total value of $161,380.00. Following the completion of the sale, the chief executive officer now owns 51,965 shares of the company's stock, valued at approximately $8,386,111.70. This represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the completion of the sale, the insider now directly owns 25,182 shares of the company's stock, valued at approximately $3,995,627.94. This trade represents a 29.47% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Truist Financial lowered their price objective on Procter & Gamble from $185.00 to $180.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Bank of America lowered their price target on shares of Procter & Gamble from $190.00 to $180.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Raymond James Financial cut their price objective on shares of Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating for the company in a report on Friday, April 25th. Barclays reissued an "equal weight" rating on shares of Procter & Gamble in a research note on Thursday, March 27th. Finally, JPMorgan Chase & Co. cut 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. Eight equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $178.45.

Procter & Gamble Price Performance

Procter & Gamble stock opened at $160.00 on Monday. The company has a fifty day simple moving average of $162.44 and a 200-day simple moving average of $165.58. The company has a quick ratio of 0.50, a current ratio of 0.71 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $375.11 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 4.71 and a beta of 0.43. Procter & Gamble Company has a 52-week low of $156.58 and a 52-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 (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.01. Procter & Gamble had a net margin of 18.46% and a return on equity of 32.67%. The company had revenue of $19.78 billion during the quarter, compared to analysts' expectations of $20.42 billion. During the same quarter in the prior year, the company earned $1.52 EPS. Procter & Gamble's revenue was down 2.1% compared to the same quarter last year. On average, 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 announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were issued a $1.0568 dividend. 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 2.64%. The ex-dividend date of this dividend was Monday, April 21st. Procter & Gamble's dividend payout ratio is presently 67.14%.

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.

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