Apollon Wealth Management LLC Lowers Position in Procter & Gamble Company (The) (NYSE:PG)

Apollon Wealth Management LLC decreased its holdings in shares of Procter & Gamble Company (The) (NYSE:PG) by 1.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,783 shares of the company’s stock after selling 1,094 shares during the period. Apollon Wealth Management LLC’s holdings in Procter & Gamble were worth $16,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Brighton Jones LLC lifted its holdings in Procter & Gamble by 51.5% in the 4th quarter. Brighton Jones LLC now owns 40,068 shares of the company’s stock valued at $6,717,000 after purchasing an additional 13,617 shares in the last quarter. Bank Pictet & Cie Europe AG increased its stake in shares of Procter & Gamble by 493.6% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 341,750 shares of the company’s stock worth $57,294,000 after acquiring an additional 284,174 shares during the last quarter. Proficio Capital Partners LLC increased its stake in shares of Procter & Gamble by 50.4% in the 4th quarter. Proficio Capital Partners LLC now owns 10,360 shares of the company’s stock worth $1,737,000 after acquiring an additional 3,472 shares during the last quarter. one8zero8 LLC acquired a new stake in shares of Procter & Gamble during the 4th quarter worth about $2,382,000. Finally, Hutchinson Capital Management CA increased its position in shares of Procter & Gamble by 0.8% during the 4th quarter. Hutchinson Capital Management CA now owns 10,403 shares of the company’s stock worth $1,744,000 after purchasing an additional 82 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Procter & Gamble Stock Performance

Shares of Procter & Gamble stock opened at $156.95 on Monday. The firm has a market cap of $367.98 billion, a price-to-earnings ratio of 24.91, a price-to-earnings-growth ratio of 4.47 and a beta of 0.40. The stock’s 50-day moving average is $161.77 and its 200-day moving average is $164.88. Procter & Gamble Company has a one year low of $155.95 and a one year high of $180.43. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.71 and a quick ratio of 0.50.

Procter & Gamble (NYSE:PG) last released 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 return on equity of 32.67% and a net margin of 18.46%. The firm had revenue of $19.78 billion for the quarter, compared to analyst estimates of $20.42 billion. During the same quarter in the prior year, the company earned $1.52 earnings per share. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. Equities analysts predict that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be issued a $1.0568 dividend. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Friday, July 18th. Procter & Gamble’s dividend payout ratio is presently 67.14%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Piper Sandler lifted their target price on Procter & Gamble from $160.00 to $164.00 and gave the company a “neutral” rating in a research report on Monday, May 5th. Erste Group Bank cut Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 30th. Morgan Stanley set a $180.00 target price on Procter & Gamble and gave the stock an “overweight” rating in a research note on Friday, April 25th. Evercore ISI reiterated an “outperform” rating and issued a $190.00 price objective (up previously from $170.00) on shares of Procter & Gamble in a research note on Tuesday, June 3rd. Finally, 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 note on Friday, April 25th. Eight equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $178.45.

Insiders Place Their Bets

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

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.