Access Financial Services Inc. Raises Stake in The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Mar 30th, 2023

Access Financial Services Inc. lifted its position in shares of The Procter & Gamble Company (NYSE:PG – Get Rating) by 6.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,899 shares of the company’s stock after buying an additional 604 shares during the quarter. Procter & Gamble makes up 0.9% of Access Financial Services Inc.’s investment portfolio, making the stock its 26th largest position. Access Financial Services Inc.’s holdings in Procter & Gamble were worth $1,500,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PG. Vanguard Group Inc. lifted its position in shares of Procter & Gamble by 1.0% during the third quarter. Vanguard Group Inc. now owns 224,570,227 shares of the company’s stock worth $28,351,991,000 after purchasing an additional 2,197,165 shares in the last quarter. BlackRock Inc. increased its stake in Procter & Gamble by 1.1% during the third quarter. BlackRock Inc. now owns 161,904,833 shares of the company’s stock valued at $20,440,487,000 after purchasing an additional 1,811,085 shares during the last quarter. State Street Corp grew its position in shares of Procter & Gamble by 0.8% during the third quarter. State Street Corp now owns 104,749,256 shares of the company’s stock worth $13,224,594,000 after acquiring an additional 797,652 shares during the last quarter. Legal & General Group Plc grew its position in shares of Procter & Gamble by 3.6% during the second quarter. Legal & General Group Plc now owns 18,536,142 shares of the company’s stock worth $2,665,327,000 after acquiring an additional 637,095 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Procter & Gamble by 22.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 16,567,690 shares of the company’s stock worth $2,382,268,000 after purchasing an additional 3,054,844 shares during the period. 62.13% of the stock is currently owned by hedge funds and other institutional investors.

Procter & Gamble Stock Performance

Procter & Gamble stock opened at $146.81 on Thursday. The stock has a 50-day simple moving average of $140.93 and a 200 day simple moving average of $141.06. The company has a quick ratio of 0.37, a current ratio of 0.56 and a debt-to-equity ratio of 0.47. The Procter & Gamble Company has a 12-month low of $122.18 and a 12-month high of $164.90. The stock has a market capitalization of $346.35 billion, a price-to-earnings ratio of 25.76, a P/E/G ratio of 4.07 and a beta of 0.40.

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

Procter & Gamble Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 15th. Shareholders of record on Friday, January 20th were given a dividend of $0.9133 per share. This represents a $3.65 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend was Thursday, January 19th. Procter & Gamble’s dividend payout ratio (DPR) is currently 64.04%.

Insiders Place Their Bets

In other news, insider Susan Street Whaley sold 709 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $137.34, for a total transaction of $97,374.06. Following the sale, the insider now owns 10,198 shares in the company, valued at approximately $1,400,593.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Susan Street Whaley sold 709 shares of the stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $137.34, for a total value of $97,374.06. Following the sale, the insider now owns 10,198 shares in the company, valued at approximately $1,400,593.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Andre Schulten sold 1,311 shares of the stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $137.34, for a total value of $180,052.74. Following the completion of the sale, the chief financial officer now owns 35,142 shares in the company, valued at approximately $4,826,402.28. The disclosure for this sale can be found here. Insiders sold a total of 4,766 shares of company stock valued at $656,511 in the last quarter. 0.26% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on PG shares. Raymond James raised their target price on shares of Procter & Gamble from $165.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, January 13th. JPMorgan Chase & Co. upgraded shares of Procter & Gamble from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $150.00 to $155.00 in a report on Friday, March 3rd. StockNews.com assumed coverage on shares of Procter & Gamble in a report on Thursday, March 16th. They issued a “hold” rating for the company. Barclays reduced their price target on shares of Procter & Gamble from $161.00 to $158.00 and set an “overweight” rating for the company in a research report on Monday, January 23rd. Finally, Wells Fargo & Company reduced their price target on shares of Procter & Gamble from $168.00 to $162.00 and set an “overweight” rating for the company in a research report on Friday, January 20th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.27.

About Procter & Gamble

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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.