Perkins Coie Trust Co Purchases 507 Shares of The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Mar 26th, 2023

Perkins Coie Trust Co boosted its position in shares of The Procter & Gamble Company (NYSE:PG – Get Rating) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,644 shares of the company’s stock after buying an additional 507 shares during the period. Procter & Gamble makes up about 2.1% of Perkins Coie Trust Co’s portfolio, making the stock its 11th biggest holding. Perkins Coie Trust Co’s holdings in Procter & Gamble were worth $6,463,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EWG Elevate Inc. bought a new stake in shares of Procter & Gamble in the 4th quarter valued at approximately $26,000. Legend Financial Advisors Inc. bought a new stake in shares of Procter & Gamble in the 3rd quarter valued at approximately $30,000. Belmont Capital LLC lifted its stake in shares of Procter & Gamble by 40.0% in the 3rd quarter. Belmont Capital LLC now owns 385 shares of the company’s stock valued at $49,000 after purchasing an additional 110 shares during the last quarter. Align Wealth Management LLC bought a new stake in shares of Procter & Gamble in the 4th quarter valued at approximately $50,000. Finally, Horizons Wealth Management bought a new stake in shares of Procter & Gamble in the 2nd quarter valued at approximately $52,000. 62.13% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Susan Street Whaley sold 435 shares of Procter & Gamble stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $141.82, for a total value of $61,691.70. Following the transaction, the insider now directly owns 10,840 shares in the company, valued at approximately $1,537,328.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Susan Street Whaley sold 435 shares of the firm’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $141.82, for a total value of $61,691.70. Following the completion of the sale, the insider now owns 10,840 shares of the company’s stock, valued at approximately $1,537,328.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jon R. Moeller sold 2,151 shares of the firm’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $137.34, for a total value of $295,418.34. Following the completion of the sale, the chief executive officer now directly owns 226,748 shares of the company’s stock, valued at approximately $31,141,570.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,766 shares of company stock worth $656,511. 0.26% of the stock is currently owned by company insiders.

Procter & Gamble Trading Up 2.0 %

PG opened at $146.72 on Friday. The stock’s fifty day moving average is $141.10 and its two-hundred day moving average is $140.89. The company has a market capitalization of $346.13 billion, a P/E ratio of 25.74, a PEG ratio of 4.01 and a beta of 0.40. The Procter & Gamble Company has a 52 week low of $122.18 and a 52 week high of $164.90. The company has a quick ratio of 0.37, a current ratio of 0.56 and a debt-to-equity ratio of 0.47.

Procter & Gamble (NYSE:PG – Get Rating) last announced its quarterly earnings results on Thursday, January 19th. The company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.01. Procter & Gamble had a return on equity of 32.03% and a net margin of 17.79%. The business had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $20.75 billion. During the same period last year, the business posted $1.66 EPS. The business’s revenue was down .9% compared to the same quarter last year. Analysts forecast that The Procter & Gamble Company will post 5.84 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 15th. Stockholders of record on Friday, January 20th were issued a $0.9133 dividend. The ex-dividend date was Thursday, January 19th. This represents a $3.65 dividend on an annualized basis and a dividend yield of 2.49%. Procter & Gamble’s dividend payout ratio is presently 64.04%.

Analysts Set New Price Targets

Several research firms have recently issued reports on PG. JPMorgan Chase & Co. raised Procter & Gamble from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $150.00 to $155.00 in a research note on Friday, March 3rd. Stifel Nicolaus increased their price target on Procter & Gamble from $139.00 to $147.00 and gave the stock a “hold” rating in a report on Friday, January 20th. StockNews.com started coverage on Procter & Gamble in a report on Thursday, March 16th. They issued a “hold” rating on the stock. UBS Group upgraded Procter & Gamble from a “neutral” rating to a “buy” rating and increased their price target for the stock from $157.00 to $163.00 in a report on Wednesday, March 1st. Finally, Barclays reduced their price target on Procter & Gamble from $161.00 to $158.00 and set an “overweight” rating on the stock in a report on Monday, January 23rd. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Procter & Gamble presently has an average rating of “Moderate Buy” and a consensus target price of $155.27.

Procter & Gamble Profile

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Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & 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.

Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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