Greatmark Investment Partners Inc. Raises Stake in The Procter & Gamble Company (NYSE:PG)

Greatmark Investment Partners Inc. raised its position in The Procter & Gamble Company (NYSE:PG) by 5.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,566 shares of the company’s stock after acquiring an additional 535 shares during the quarter. Greatmark Investment Partners Inc.’s holdings in Procter & Gamble were worth $1,604,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. NewSquare Capital LLC raised its holdings in Procter & Gamble by 933.3% during the fourth quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock worth $26,000 after purchasing an additional 140 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in Procter & Gamble during the third quarter worth approximately $33,000. LFA Lugano Financial Advisors SA acquired a new stake in Procter & Gamble during the fourth quarter worth approximately $34,000. Noble Wealth Management PBC acquired a new stake in Procter & Gamble during the fourth quarter worth approximately $39,000. Finally, Bay Harbor Wealth Management LLC raised its holdings in Procter & Gamble by 972.0% during the fourth quarter. Bay Harbor Wealth Management LLC now owns 268 shares of the company’s stock worth $45,000 after purchasing an additional 243 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Gary A. Coombe sold 18,000 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $171.66, for a total value of $3,089,880.00. Following the sale, the chief executive officer now directly owns 22,051 shares in the company, valued at $3,785,274.66. The trade was a 44.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marc S. Pritchard sold 90,450 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the completion of the sale, the insider now owns 172,814 shares in the company, valued at $28,313,845.76. This represents a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 143,450 shares of company stock worth $23,988,008. Corporate insiders own 0.18% of the company’s stock.

Procter & Gamble Stock Performance

NYSE:PG opened at $168.20 on Friday. The firm’s fifty day moving average price is $167.27 and its 200 day moving average price is $169.80. The Procter & Gamble Company has a 1-year low of $153.52 and a 1-year high of $180.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55. The firm has a market cap of $394.39 billion, a price-to-earnings ratio of 26.78, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last issued its earnings results on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.86 by $0.02. The company had revenue of $21.88 billion for the quarter, compared to analyst estimates of $21.66 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.84 EPS. On average, sell-side analysts expect that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th were given a dividend of $1.0065 per share. The ex-dividend date was Friday, January 24th. This represents a $4.03 annualized dividend and a dividend yield of 2.39%. Procter & Gamble’s payout ratio is currently 64.01%.

Analyst Ratings Changes

A number of analysts have weighed in on PG shares. JPMorgan Chase & Co. cut their price objective on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. UBS Group reissued a “buy” rating on shares of Procter & Gamble in a report on Monday, February 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a report on Thursday, January 23rd. Piper Sandler cut their target price on shares of Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. Finally, Barclays lifted their target price on shares of Procter & Gamble from $155.00 to $159.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.47.

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.