The Procter & Gamble Company (NYSE:PG) Holdings Raised by NewEdge Wealth LLC

NewEdge Wealth LLC raised its stake in shares of The Procter & Gamble Company (NYSE:PG) by 9.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 71,843 shares of the company’s stock after purchasing an additional 6,432 shares during the period. NewEdge Wealth LLC’s holdings in Procter & Gamble were worth $12,044,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PG. RPg Family Wealth Advisory LLC acquired a new position in Procter & Gamble in the 3rd quarter worth about $33,000. Bay Harbor Wealth Management LLC increased its holdings in Procter & Gamble by 972.0% in the fourth quarter. Bay Harbor Wealth Management LLC now owns 268 shares of the company’s stock worth $45,000 after buying an additional 243 shares during the last quarter. New Wave Wealth Advisors LLC bought a new position in Procter & Gamble during the fourth quarter valued at approximately $46,000. Costello Asset Management INC lifted its stake in Procter & Gamble by 2,142.9% in the third quarter. Costello Asset Management INC now owns 314 shares of the company’s stock valued at $54,000 after acquiring an additional 300 shares during the last quarter. Finally, DecisionPoint Financial LLC grew its position in Procter & Gamble by 46.7% in the fourth quarter. DecisionPoint Financial LLC now owns 330 shares of the company’s stock worth $55,000 after acquiring an additional 105 shares in the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PG. Wells Fargo & Company raised their price target on shares of Procter & Gamble from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, January 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $164.00 target price on shares of Procter & Gamble in a report on Thursday, January 23rd. Piper Sandler decreased their price target on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a research note on Monday. JPMorgan Chase & Co. cut their price objective on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Finally, DA Davidson reaffirmed a “buy” rating and set a $209.00 target price on shares of Procter & Gamble in a research report on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $180.42.

Insider Activity

In related news, insider Marc S. Pritchard sold 90,450 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the completion of the transaction, the insider now owns 172,814 shares in the company, valued at $28,313,845.76. This trade represents a 34.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gary A. Coombe sold 18,000 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $171.66, for a total value of $3,089,880.00. Following the completion of the sale, the chief executive officer now owns 22,051 shares in the company, valued at $3,785,274.66. This trade represents a 44.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Procter & Gamble Stock Down 0.7 %

PG stock opened at $171.36 on Thursday. The business’s 50-day simple moving average is $166.11 and its 200 day simple moving average is $169.47. 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 company has a market cap of $401.81 billion, a PE ratio of 27.29, a price-to-earnings-growth ratio of 3.76 and a beta of 0.45. The Procter & Gamble Company has a twelve month low of $153.52 and a twelve month high of $180.43.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.02. The business had revenue of $21.88 billion for the quarter, compared to analysts’ expectations of $21.66 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. Procter & Gamble’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.84 earnings per share. On average, research analysts anticipate that The Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th were issued a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend was Friday, January 24th. Procter & Gamble’s payout ratio is 64.01%.

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.