Equitable Holdings Inc. Acquires Shares of 86,072 Procter & Gamble Company (The) $PG

Equitable Holdings Inc. acquired a new stake in shares of Procter & Gamble Company (The) (NYSE:PG) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 86,072 shares of the company’s stock, valued at approximately $12,622,000.

Other hedge funds have also recently modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. increased its holdings in Procter & Gamble by 1,000.0% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 165 shares of the company’s stock valued at $25,000 after acquiring an additional 150 shares during the last quarter. Park Square Financial Group LLC boosted its holdings in shares of Procter & Gamble by 65.1% during the 4th quarter. Park Square Financial Group LLC now owns 180 shares of the company’s stock valued at $26,000 after purchasing an additional 71 shares during the last quarter. Evolution Wealth Management Inc. grew its position in shares of Procter & Gamble by 1,315.4% during the fourth quarter. Evolution Wealth Management Inc. now owns 184 shares of the company’s stock valued at $26,000 after purchasing an additional 171 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Procter & Gamble during the second quarter valued at about $26,000. Finally, Litman Gregory Wealth Management LLC bought a new stake in shares of Procter & Gamble in the fourth quarter worth about $26,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Procter & Gamble Stock Performance

Shares of NYSE:PG opened at $143.71 on Friday. The company has a market capitalization of $334.04 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 4.43 and a beta of 0.39. Procter & Gamble Company has a 12 month low of $137.62 and a 12 month high of $167.25. The firm’s 50-day moving average is $147.11 and its 200 day moving average is $148.28. The company has a current ratio of 0.68, a quick ratio of 0.47 and a debt-to-equity ratio of 0.43.

Procter & Gamble (NYSE:PG) last released its earnings results on Wednesday, July 29th. The company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.02. The firm had revenue of $21.20 billion for the quarter, compared to analysts’ expectations of $21.38 billion. Procter & Gamble had a return on equity of 31.36% and a net margin of 18.44%.The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.48 earnings per share. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. Research analysts predict that Procter & Gamble Company will post 6.98 EPS for the current year.

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, July 24th were issued a $1.0885 dividend. The ex-dividend date was Friday, July 24th. This represents a $4.35 dividend on an annualized basis and a dividend yield of 3.0%. Procter & Gamble’s payout ratio is presently 65.71%.

Analysts Set New Price Targets

Several research firms have weighed in on PG. BMO Capital Markets raised their price target on Procter & Gamble from $169.00 to $170.00 and gave the company an “outperform” rating in a report on Monday, June 29th. HSBC reaffirmed a “hold” rating and set a $149.00 price objective (down from $182.00) on shares of Procter & Gamble in a report on Thursday, July 30th. Bank of America cut their target price on shares of Procter & Gamble from $170.00 to $166.00 and set a “buy” rating for the company in a report on Friday, July 10th. Royal Bank Of Canada restated an “outperform” rating on shares of Procter & Gamble in a research report on Wednesday, August 19th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Procter & Gamble in a research note on Wednesday, June 24th. Thirteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $161.19.

Insider Activity at Procter & Gamble

In related news, insider Marc S. Pritchard sold 4,030 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $143.79, for a total value of $579,473.70. Following the transaction, the insider owned 187,001 shares of the company’s stock, valued at $26,888,873.79. This represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Susan Street Whaley sold 2,238 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $143.79, for a total value of $321,802.02. Following the transaction, the insider owned 26,989 shares in the company, valued at $3,880,748.31. The trade was a 7.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 6,627 shares of company stock worth $953,417. Company insiders own 0.20% of the company’s stock.

About Procter & Gamble

Procter & Gamble (NYSE: PG) is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world’s largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.

P&G’s product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.