Opinicus Capital Inc. bought a new position in shares of The Procter & Gamble Company (NYSE:PG – Free Report) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 1,736 shares of the company’s stock, valued at approximately $282,000.
A number of other institutional investors have also added to or reduced their stakes in PG. HighPoint Advisor Group LLC acquired a new position in shares of Procter & Gamble in the fourth quarter valued at $17,696,000. Dfpg Investments LLC boosted its position in shares of Procter & Gamble by 1.7% in the fourth quarter. Dfpg Investments LLC now owns 24,892 shares of the company’s stock valued at $3,680,000 after acquiring an additional 424 shares during the period. Campbell Wealth Management boosted its position in shares of Procter & Gamble by 13.1% in the fourth quarter. Campbell Wealth Management now owns 1,988 shares of the company’s stock valued at $291,000 after acquiring an additional 231 shares during the period. Herold Advisors Inc. boosted its position in shares of Procter & Gamble by 2.2% in the fourth quarter. Herold Advisors Inc. now owns 26,592 shares of the company’s stock valued at $3,897,000 after acquiring an additional 581 shares during the period. Finally, Metis Global Partners LLC boosted its position in shares of Procter & Gamble by 15.7% in the fourth quarter. Metis Global Partners LLC now owns 115,039 shares of the company’s stock valued at $16,858,000 after acquiring an additional 15,599 shares during the period. 65.77% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other Procter & Gamble news, insider Balaji Purushothaman sold 28,369 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $161.49, for a total transaction of $4,581,309.81. Following the completion of the sale, the insider now owns 11,507 shares of the company’s stock, valued at approximately $1,858,265.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Procter & Gamble news, insider Balaji Purushothaman sold 28,369 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $161.49, for a total transaction of $4,581,309.81. Following the completion of the sale, the insider now owns 11,507 shares of the company’s stock, valued at approximately $1,858,265.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gary A. Coombe sold 21,388 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $164.98, for a total transaction of $3,528,592.24. Following the sale, the chief executive officer now directly owns 36,854 shares of the company’s stock, valued at approximately $6,080,172.92. The disclosure for this sale can be found here. Insiders sold 154,544 shares of company stock valued at $25,413,051 over the last quarter. 0.17% of the stock is owned by company insiders.
Procter & Gamble Price Performance
Procter & Gamble (NYSE:PG – Get Free Report) last released its quarterly earnings data on Friday, April 19th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.10. Procter & Gamble had a return on equity of 33.91% and a net margin of 18.00%. The company had revenue of $20.20 billion during the quarter, compared to the consensus estimate of $20.43 billion. During the same quarter in the prior year, the firm posted $1.37 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. Equities research analysts forecast that The Procter & Gamble Company will post 6.55 EPS for the current fiscal year.
Procter & Gamble Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th were paid a $1.0065 dividend. The ex-dividend date was Thursday, April 18th. This represents a $4.03 annualized dividend and a dividend yield of 2.44%. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.94. Procter & Gamble’s dividend payout ratio is currently 65.85%.
Analyst Ratings Changes
PG has been the subject of a number of recent research reports. Truist Financial raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and boosted their target price for the company from $160.00 to $175.00 in a research report on Monday, March 11th. StockNews.com raised shares of Procter & Gamble from a “hold” rating to a “buy” rating in a research report on Tuesday. Barclays upped their price objective on shares of Procter & Gamble from $168.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 23rd. The Goldman Sachs Group initiated coverage on shares of Procter & Gamble in a research report on Friday, March 1st. They set a “neutral” rating and a $168.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Procter & Gamble from $172.00 to $171.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Procter & Gamble has an average rating of “Moderate Buy” and a consensus price target of $170.72.
Procter & Gamble Company Profile
The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.
See Also
- Five stocks we like better than Procter & Gamble
- Why is the Ex-Dividend Date Significant to Investors?
- What’s Behind Walgreens Stock Plunge: What Investors Can Do Next
- Overbought Stocks Explained: Should You Trade Them?
- MarketBeat Week in Review – 6/24 – 6/28
- Natural Gas Prices Continue To Rally, These Stocks Should Benefit
- General Mills Stock Drops After Revenue Miss in Fiscal Q4 2024
Want to see what other hedge funds are holding PG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Procter & Gamble Company (NYSE:PG – Free Report).
Receive News & Ratings for Procter & Gamble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Procter & Gamble and related companies with MarketBeat.com's FREE daily email newsletter.