Hazlett Burt & Watson Inc. Buys New Holdings in The Procter & Gamble Company (NYSE:PG)

Hazlett Burt & Watson Inc. bought a new stake in shares of The Procter & Gamble Company (NYSE:PG – Get Rating) in the 1st quarter, Holdings Channel.com reports. The firm bought 8,495 shares of the company’s stock, valued at approximately $1,300,000. Procter & Gamble comprises 1.0% of Hazlett Burt & Watson Inc.’s holdings, making the stock its 15th biggest position.

Other institutional investors also recently bought and sold shares of the company. Northcape Wealth Management LLC lifted its holdings in Procter & Gamble by 95.2% in the 1st quarter. Northcape Wealth Management LLC now owns 24,189 shares of the company’s stock worth $3,696,000 after buying an additional 11,800 shares during the period. First Affirmative Financial Network lifted its holdings in Procter & Gamble by 6.0% in the 1st quarter. First Affirmative Financial Network now owns 1,934 shares of the company’s stock worth $296,000 after buying an additional 109 shares during the period. NorthCrest Asset Manangement LLC lifted its holdings in Procter & Gamble by 624.7% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 131,952 shares of the company’s stock worth $20,163,000 after buying an additional 113,745 shares during the period. Calamos Wealth Management LLC lifted its holdings in Procter & Gamble by 3.8% in the 1st quarter. Calamos Wealth Management LLC now owns 20,240 shares of the company’s stock worth $3,093,000 after buying an additional 733 shares during the period. Finally, Nvest Financial LLC purchased a new stake in Procter & Gamble in the 1st quarter worth approximately $432,000. 63.64% of the stock is currently owned by hedge funds and other institutional investors.

Procter & Gamble Stock Up 2.9 %

Procter & Gamble stock opened at $142.90 on Tuesday. The firm has a market cap of $342.86 billion, a price-to-earnings ratio of 24.60, a PEG ratio of 4.31 and a beta of 0.36. The stock has a fifty day simple moving average of $143.13 and a two-hundred day simple moving average of $151.36. The Procter & Gamble Company has a 12 month low of $129.50 and a 12 month high of $165.35. The company has a current ratio of 0.65, a quick ratio of 0.45 and a debt-to-equity ratio of 0.49.

Procter & Gamble (NYSE:PG – Get Rating) last released its quarterly earnings results on Friday, July 29th. The company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). The firm had revenue of $19.52 billion during the quarter, compared to analysts’ expectations of $19.41 billion. Procter & Gamble had a return on equity of 32.52% and a net margin of 18.39%. The business’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business earned $1.13 earnings per share. Equities analysts predict that The Procter & Gamble Company will post 5.94 EPS for the current fiscal year.

Procter & Gamble Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 22nd will be given a dividend of $0.913 per share. The ex-dividend date of this dividend is Thursday, July 21st. This represents a $3.65 annualized dividend and a yield of 2.56%. Procter & Gamble’s dividend payout ratio (DPR) is presently 62.82%.

Insider Activity at Procter & Gamble

In other news, CEO Sundar G. Raman sold 1,599 shares of the business’s stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $145.12, for a total value of $232,046.88. Following the transaction, the chief executive officer now directly owns 4,002 shares in the company, valued at $580,770.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.51% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PG has been the subject of several research reports. Evercore ISI set a $170.00 target price on Procter & Gamble in a research report on Monday, June 20th. Wells Fargo & Company decreased their target price on Procter & Gamble from $170.00 to $160.00 in a research report on Friday, July 22nd. Deutsche Bank Aktiengesellschaft decreased their target price on Procter & Gamble from $171.00 to $157.00 and set a “buy” rating for the company in a research report on Tuesday, June 21st. Raymond James reissued a “maintains” rating on shares of Procter & Gamble in a research report on Monday, July 25th. Finally, Truist Financial decreased their target price on Procter & Gamble from $175.00 to $160.00 and set a “buy” rating for the company in a research report on Monday. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $162.53.

About Procter & Gamble

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The Procter & Gamble Company provides branded consumer packaged goods to consumers in North and Latin America, Europe, the Asia Pacific, Greater China, India, the Middle East, and Africa. It operates in five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care.