HB Wealth Management LLC Purchases 9,733 Shares of The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Mar 31st, 2023

HB Wealth Management LLC increased its stake in shares of The Procter & Gamble Company (NYSE:PG – Get Rating) by 6.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 166,804 shares of the company’s stock after buying an additional 9,733 shares during the quarter. Procter & Gamble accounts for about 0.5% of HB Wealth Management LLC’s investment portfolio, making the stock its 27th largest position. HB Wealth Management LLC’s holdings in Procter & Gamble were worth $25,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Stone Point Wealth LLC increased its stake in shares of Procter & Gamble by 14.8% in the 4th quarter. Stone Point Wealth LLC now owns 4,564 shares of the company’s stock valued at $692,000 after buying an additional 590 shares during the period. Southern Capital Advisors LLC increased its position in shares of Procter & Gamble by 11.7% in the fourth quarter. Southern Capital Advisors LLC now owns 23,745 shares of the company’s stock valued at $3,599,000 after acquiring an additional 2,485 shares during the last quarter. Troy Asset Management Ltd increased its position in shares of Procter & Gamble by 1.7% in the fourth quarter. Troy Asset Management Ltd now owns 2,186,654 shares of the company’s stock valued at $331,409,000 after acquiring an additional 37,575 shares during the last quarter. Miracle Mile Advisors LLC increased its position in shares of Procter & Gamble by 5.3% in the fourth quarter. Miracle Mile Advisors LLC now owns 29,349 shares of the company’s stock valued at $4,448,000 after acquiring an additional 1,470 shares during the last quarter. Finally, Affiance Financial LLC increased its position in shares of Procter & Gamble by 17.9% in the fourth quarter. Affiance Financial LLC now owns 2,440 shares of the company’s stock valued at $370,000 after acquiring an additional 371 shares during the last quarter. Institutional investors own 62.13% of the company’s stock.

Insider Transactions at Procter & Gamble

In other news, insider Susan Street Whaley sold 709 shares of the stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $137.34, for a total transaction of $97,374.06. Following the transaction, the insider now owns 10,198 shares of the company’s stock, valued at approximately $1,400,593.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Susan Street Whaley sold 709 shares of the stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $137.34, for a total transaction of $97,374.06. Following the transaction, the insider now owns 10,198 shares of the company’s stock, valued at approximately $1,400,593.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jon R. Moeller sold 2,151 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $137.34, for a total transaction of $295,418.34. Following the completion of the transaction, the chief executive officer now directly owns 226,748 shares in the company, valued at approximately $31,141,570.32. The disclosure for this sale can be found here. Insiders have sold 4,766 shares of company stock valued at $656,511 in the last 90 days. 0.26% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Stifel Nicolaus lifted their target price on Procter & Gamble from $139.00 to $147.00 and gave the company a “hold” rating in a research report on Friday, January 20th. JPMorgan Chase & Co. raised Procter & Gamble from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $150.00 to $155.00 in a research report on Friday, March 3rd. Citigroup assumed coverage on Procter & Gamble in a research report on Thursday, February 16th. They set a “buy” rating and a $160.00 price target on the stock. Wells Fargo & Company lowered their price target on Procter & Gamble from $168.00 to $162.00 and set an “overweight” rating on the stock in a research report on Friday, January 20th. Finally, Barclays lowered their price target on Procter & Gamble from $161.00 to $158.00 and set an “overweight” rating on the stock in a research report on Monday, January 23rd. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $155.27.

Procter & Gamble Stock Up 0.4 %

Shares of PG opened at $147.45 on Friday. The Procter & Gamble Company has a 52 week low of $122.18 and a 52 week high of $164.90. The stock has a market capitalization of $347.86 billion, a price-to-earnings ratio of 25.87, a PEG ratio of 4.09 and a beta of 0.40. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.37 and a current ratio of 0.56. The stock has a fifty day moving average of $141.03 and a 200-day moving average of $141.10.

Procter & Gamble (NYSE:PG – Get Rating) last announced its quarterly earnings results on Thursday, January 19th. The company reported $1.59 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 company had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $20.75 billion. During the same period in the prior year, the company earned $1.66 EPS. Procter & Gamble’s revenue was down .9% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Procter & Gamble Company will post 5.84 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 15th. Shareholders of record on Friday, January 20th were issued a dividend of $0.9133 per share. The ex-dividend date of this dividend was Thursday, January 19th. This represents a $3.65 dividend on an annualized basis and a yield of 2.48%. Procter & Gamble’s payout ratio is currently 64.04%.

Procter & Gamble Company 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.