Voleon Capital Management LP Purchases New Stake in The Procter & Gamble Company (NYSE:PG)

Voleon Capital Management LP acquired a new position in shares of The Procter & Gamble Company (NYSE:PG - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 22,538 shares of the company's stock, valued at approximately $3,778,000.

Several other hedge funds and other institutional investors have also modified their holdings of PG. NewSquare Capital LLC raised its holdings 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 buying an additional 140 shares in the last quarter. Hoey Investments Inc. raised its holdings in Procter & Gamble by 321.7% during the fourth quarter. Hoey Investments Inc. now owns 194 shares of the company's stock valued at $33,000 after buying an additional 148 shares in the last quarter. LFA Lugano Financial Advisors SA bought a new position in Procter & Gamble during the fourth quarter valued at about $34,000. Atlantic Private Wealth LLC raised its holdings in Procter & Gamble by 95.3% during the fourth quarter. Atlantic Private Wealth LLC now owns 207 shares of the company's stock valued at $35,000 after buying an additional 101 shares in the last quarter. Finally, Prudent Man Investment Management Inc. acquired a new stake in shares of Procter & Gamble in the fourth quarter valued at about $38,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on PG shares. Morgan Stanley set a $180.00 target price on Procter & Gamble and gave the company an "overweight" rating in a research note on Friday, April 25th. Piper Sandler reissued an "underperform" rating on shares of Procter & Gamble in a research report on Friday, April 25th. Bank of America reduced their price objective on Procter & Gamble from $190.00 to $180.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Truist Financial reduced their price objective on Procter & Gamble from $185.00 to $180.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Finally, Royal Bank of Canada raised Procter & Gamble from a "sector perform" rating to an "outperform" rating and increased their price objective for the company from $164.00 to $177.00 in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $179.80.

Insiders Place Their Bets

In other news, CEO Gary A. Coombe sold 35,000 shares of the firm's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $173.68, for a total value of $6,078,800.00. Following the completion of the sale, the chief executive officer now directly owns 22,051 shares in the company, valued at approximately $3,829,817.68. This trade represents a 61.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jennifer L. Davis sold 1,000 shares of the firm's stock in a transaction 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 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 trade represents a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,000 shares of company stock worth $9,330,060 over the last three months. 0.18% of the stock is currently owned by corporate insiders.

Procter & Gamble Price Performance

Procter & Gamble stock traded down $2.58 during mid-day trading on Thursday, hitting $159.99. 6,784,334 shares of the company were exchanged, compared to its average volume of 7,157,309. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50. The business has a fifty day moving average of $167.81 and a 200 day moving average of $168.17. The Procter & Gamble Company has a 1-year low of $156.58 and a 1-year high of $180.43. The company has a market capitalization of $375.10 billion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 3.76 and a beta of 0.43.

Procter & Gamble (NYSE:PG - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.01. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The firm had revenue of $19.78 billion during the quarter, compared to analyst estimates of $20.42 billion. During the same period in the prior year, the company posted $1.52 earnings per share. The business's revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, 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 business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, April 21st will be paid a dividend of $1.0568 per share. This is a positive change 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 is Monday, April 21st. Procter & Gamble's dividend payout ratio is currently 66.98%.

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.