Wealthspire Advisors LLC Buys 70,007 Shares of Procter & Gamble Company (The) (NYSE:PG)

Key Points

• Wealthspire Advisors LLC increased its stake in Procter & Gamble by 96.6% during the first quarter, acquiring an additional 70,007 shares to bring their total holdings to 142,474 shares, valued at $24.28 million.
• The company reported a quarterly earnings per share (EPS) of $1.48, exceeding expectations, along with a revenue of $20.89 billion, indicating a 1.7% year-over-year growth.
• Procter & Gamble declared a quarterly dividend of $1.0568 per share, resulting in an annualized dividend of $4.23 and a yield of 2.8%.

Wealthspire Advisors LLC lifted its stake in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 96.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,474 shares of the company's stock after acquiring an additional 70,007 shares during the quarter. Wealthspire Advisors LLC's holdings in Procter & Gamble were worth $24,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in PG. Cladis Investment Advisory LLC grew its stake in Procter & Gamble by 5.2% during the fourth quarter. Cladis Investment Advisory LLC now owns 4,807 shares of the company's stock worth $806,000 after purchasing an additional 236 shares during the period. FAS Wealth Partners Inc. grew its stake in Procter & Gamble by 2.0% in the fourth quarter. FAS Wealth Partners Inc. now owns 27,690 shares of the company's stock valued at $4,642,000 after acquiring an additional 549 shares during the period. Capital Investment Advisory Services LLC grew its stake in Procter & Gamble by 13.8% in the first quarter. Capital Investment Advisory Services LLC now owns 37,709 shares of the company's stock valued at $6,426,000 after acquiring an additional 4,562 shares during the period. World Investment Advisors grew its stake in Procter & Gamble by 6.0% in the first quarter. World Investment Advisors now owns 50,913 shares of the company's stock valued at $8,677,000 after acquiring an additional 2,886 shares during the period. Finally, Sanders Capital LLC grew its stake in Procter & Gamble by 1.4% in the fourth quarter. Sanders Capital LLC now owns 7,353,715 shares of the company's stock valued at $1,232,850,000 after acquiring an additional 104,168 shares during the period. 65.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PG has been the topic of a number of recent research reports. UBS Group set a $180.00 target price on Procter & Gamble and gave the company a "buy" rating in a report on Wednesday, July 30th. Redburn Atlantic lowered Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 target price on the stock. in a report on Thursday, May 1st. Evercore ISI restated an "in-line" rating and issued a $170.00 target price (down previously from $190.00) on shares of Procter & Gamble in a report on Monday, July 14th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $170.00 price target (down from $178.00) on shares of Procter & Gamble in a report on Friday, July 25th. Finally, Wells Fargo & Company dropped their price target on Procter & Gamble from $175.00 to $173.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $175.88.

Procter & Gamble Price Performance

NYSE:PG opened at $150.80 on Tuesday. The company has a quick ratio of 0.49, a current ratio of 0.70 and a debt-to-equity ratio of 0.48. The business's 50-day simple moving average is $159.52 and its two-hundred day simple moving average is $163.97. The stock has a market cap of $353.56 billion, a PE ratio of 23.16, a P/E/G ratio of 3.98 and a beta of 0.37. Procter & Gamble Company has a 52 week low of $149.91 and a 52 week high of $180.43.

Procter & Gamble (NYSE:PG - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.42 by $0.06. The company had revenue of $20.89 billion during the quarter, compared to analyst estimates of $20.79 billion. Procter & Gamble had a return on equity of 32.56% and a net margin of 18.95%. The firm's revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the business posted $1.40 earnings per share. As a group, analysts forecast that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be paid a dividend of $1.0568 per share. This represents a $4.23 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, July 18th. Procter & Gamble's payout ratio is currently 64.82%.

Procter & Gamble Company Profile

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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