Canvas Wealth Advisors LLC Boosts Holdings in The Procter & Gamble Company (NYSE:PG)

Posted by on Apr 2nd, 2023

Canvas Wealth Advisors LLC boosted its holdings in shares of The Procter & Gamble Company (NYSE:PG – Get Rating) by 22.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,987 shares of the company’s stock after purchasing an additional 366 shares during the period. Canvas Wealth Advisors LLC’s holdings in Procter & Gamble were worth $291,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of PG. EWG Elevate Inc. purchased a new stake in shares of Procter & Gamble in the fourth quarter valued at about $26,000. Legend Financial Advisors Inc. acquired a new stake in shares of Procter & Gamble in the third quarter valued at about $30,000. Bourgeon Capital Management LLC lifted its stake in shares of Procter & Gamble by 39.9% in the fourth quarter. Bourgeon Capital Management LLC now owns 249 shares of the company’s stock valued at $38,000 after purchasing an additional 71 shares during the period. Belmont Capital LLC lifted its stake in shares of Procter & Gamble by 40.0% in the third 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 period. Finally, Align Wealth Management LLC acquired a new stake in shares of Procter & Gamble in the fourth quarter valued at about $50,000. 62.13% of the stock is owned by hedge funds and other institutional investors.

Procter & Gamble Stock Performance

Shares of NYSE PG opened at $148.69 on Friday. The company has a market cap of $350.78 billion, a PE ratio of 26.09, a price-to-earnings-growth ratio of 4.12 and a beta of 0.40. The Procter & Gamble Company has a 12 month low of $122.18 and a 12 month high of $164.90. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.56 and a quick ratio of 0.37. The company has a 50-day simple moving average of $141.15 and a 200-day simple moving average of $141.17.

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

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 15th. Investors 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 yield of 2.46%. Procter & Gamble’s payout ratio is 64.04%.

Insider Activity at Procter & Gamble

In related news, CEO Jon R. Moeller sold 2,151 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The shares were 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 in the company, valued at $31,141,570.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Susan Street Whaley sold 709 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $137.34, for a total value of $97,374.06. Following the completion of the sale, the insider now directly owns 10,198 shares in the company, valued at $1,400,593.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jon R. Moeller sold 2,151 shares of the business’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 $295,418.34. Following the sale, the chief executive officer now owns 226,748 shares of the company’s stock, valued at $31,141,570.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,766 shares of company stock worth $656,511. 0.26% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PG. Barclays reduced their price objective on shares of Procter & Gamble from $161.00 to $158.00 and set an “overweight” rating for the company in a research note on Monday, January 23rd. Citigroup initiated coverage on shares of Procter & Gamble in a research note on Thursday, February 16th. They issued a “buy” rating and a $160.00 price objective for the company. Stifel Nicolaus lifted their target price on shares of Procter & Gamble from $139.00 to $147.00 and gave the stock a “hold” rating in a research report on Friday, January 20th. Raymond James lifted their target price on shares of Procter & Gamble from $165.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, January 13th. Finally, Wells Fargo & Company cut their target price 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 equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Procter & Gamble has an average rating of “Moderate Buy” and an average 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.

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

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