Bennett Associates Wealth Management Takes Position in The Procter & Gamble Company (NYSE:PG)

Bennett Associates Wealth Management purchased a new position in shares of The Procter & Gamble Company (NYSE:PG) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,665 shares of the company’s stock, valued at approximately $279,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cohen Investment Advisors LLC lifted its position in shares of Procter & Gamble by 2.1% during the 4th quarter. Cohen Investment Advisors LLC now owns 19,205 shares of the company’s stock worth $3,220,000 after buying an additional 399 shares in the last quarter. Ullmann Wealth Partners Group LLC lifted its holdings in Procter & Gamble by 2.1% during the fourth quarter. Ullmann Wealth Partners Group LLC now owns 18,308 shares of the company’s stock worth $3,069,000 after acquiring an additional 383 shares during the period. Fermata Advisors LLC boosted its position in Procter & Gamble by 2.6% in the fourth quarter. Fermata Advisors LLC now owns 6,185 shares of the company’s stock worth $1,037,000 after purchasing an additional 158 shares during the last quarter. JGP Wealth Management LLC grew its stake in Procter & Gamble by 2.0% in the 4th quarter. JGP Wealth Management LLC now owns 51,831 shares of the company’s stock valued at $8,689,000 after purchasing an additional 1,017 shares during the period. Finally, Ritholtz Wealth Management increased its position in shares of Procter & Gamble by 3.2% during the 4th quarter. Ritholtz Wealth Management now owns 78,318 shares of the company’s stock valued at $13,130,000 after purchasing an additional 2,421 shares during the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Morgan Stanley increased their price target on shares of Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Stifel Nicolaus reduced their target price on shares of Procter & Gamble from $167.00 to $161.00 and set a “hold” rating for the company in a research report on Friday. Piper Sandler began coverage on shares of Procter & Gamble in a report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price target on the stock. Barclays decreased their target price on Procter & Gamble from $163.00 to $155.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, Hsbc Global Res raised Procter & Gamble to a “strong-buy” rating in a research report on Friday, October 4th. Eight equities research analysts have rated the stock with a hold rating, fourteen have given 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 an average target price of $179.65.

Procter & Gamble Stock Performance

NYSE PG opened at $161.35 on Friday. The firm has a market cap of $379.98 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 3.41 and a beta of 0.45. The Procter & Gamble Company has a 12-month low of $146.28 and a 12-month high of $180.43. The company has a 50-day simple moving average of $169.32 and a two-hundred day simple moving average of $169.39. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.03. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The business had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $21.99 billion. During the same quarter in the prior year, the company posted $1.83 EPS. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. On average, equities analysts forecast that The Procter & Gamble Company will post 6.93 EPS for the current year.

Procter & Gamble Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th will be issued a $1.0065 dividend. This represents a $4.03 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Friday, January 24th. Procter & Gamble’s dividend payout ratio (DPR) is currently 69.48%.

Insider Transactions at Procter & Gamble

In related news, CEO Gary A. Coombe sold 47,847 shares of Procter & Gamble stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $179.84, for a total transaction of $8,604,804.48. Following the sale, the chief executive officer now directly owns 39,977 shares in the company, valued at $7,189,463.68. The trade was a 54.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO R. Alexandra Keith sold 1,992 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $170.00, for a total value of $338,640.00. Following the completion of the transaction, the chief executive officer now owns 13,783 shares of the company’s stock, valued at approximately $2,343,110. This trade represents a 12.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,439 shares of company stock worth $13,317,460. 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.