Tower Bridge Advisors Has $14.16 Million Holdings in Procter & Gamble Company (The) (NYSE:PG)

Tower Bridge Advisors boosted its position in shares of Procter & Gamble Company (The) (NYSE:PG) by 4.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 83,097 shares of the company’s stock after buying an additional 3,584 shares during the period. Procter & Gamble makes up approximately 1.6% of Tower Bridge Advisors’ investment portfolio, making the stock its 16th largest position. Tower Bridge Advisors’ holdings in Procter & Gamble were worth $14,161,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Navigoe LLC acquired a new stake in shares of Procter & Gamble in the 4th quarter valued at $31,000. Capital A Wealth Management LLC acquired a new stake in Procter & Gamble in the fourth quarter valued at about $31,000. Hoey Investments Inc. grew its position in Procter & Gamble by 321.7% in the fourth quarter. Hoey Investments Inc. now owns 194 shares of the company’s stock valued at $33,000 after acquiring an additional 148 shares during the last quarter. 10Elms LLP acquired a new position in Procter & Gamble during the fourth quarter worth about $34,000. Finally, Sunbeam Capital Management LLC bought a new position in shares of Procter & Gamble in the fourth quarter worth about $34,000. 65.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PG shares. Barclays lifted their price target on shares of Procter & Gamble from $160.00 to $161.00 and gave the company an “equal weight” rating in a report on Tuesday, July 15th. Truist Financial decreased their target price on shares of Procter & Gamble from $185.00 to $180.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Piper Sandler increased their price target on Procter & Gamble from $160.00 to $164.00 and gave the company a “neutral” rating in a research note on Monday, May 5th. Evercore ISI restated an “in-line” rating and set a $170.00 price objective (down previously from $190.00) on shares of Procter & Gamble in a research report on Monday, July 14th. Finally, Redburn Atlantic downgraded Procter & Gamble from a “buy” rating to a “neutral” rating and set a $161.00 target price for the company. in a research report on Thursday, May 1st. Nine investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $176.12.

Procter & Gamble Stock Performance

NYSE:PG opened at $156.70 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.71. Procter & Gamble Company has a fifty-two week low of $151.90 and a fifty-two week high of $180.43. The company has a 50 day simple moving average of $160.68 and a two-hundred day simple moving average of $164.19. The company has a market capitalization of $367.38 billion, a PE ratio of 24.87, a P/E/G ratio of 4.48 and a beta of 0.40.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.06. Procter & Gamble had a net margin of 18.46% and a return on equity of 32.67%. The company had revenue of $20.89 billion for the quarter, compared to analyst estimates of $20.79 billion. During the same period in the prior year, the firm posted $1.40 EPS. The company’s quarterly revenue was up 1.7% on a year-over-year basis. Research analysts anticipate that Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be paid a $1.0568 dividend. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Friday, July 18th. Procter & Gamble’s dividend payout ratio is 67.14%.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, insider Moses Victor Javier Aguilar sold 10,520 shares of Procter & Gamble stock in a transaction that occurred on Monday, May 5th. The stock was 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 directly owned 25,182 shares in the company, valued at approximately $3,995,627.94. The trade was a 29.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.18% of the stock is currently owned by insiders.

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.