Lindbrook Capital LLC Grows Stake in The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Apr 6th, 2023

Lindbrook Capital LLC lifted its holdings in shares of The Procter & Gamble Company (NYSE:PG – Get Rating) by 13.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,380 shares of the company’s stock after buying an additional 1,472 shares during the period. Lindbrook Capital LLC’s holdings in Procter & Gamble were worth $1,876,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Ledyard National Bank boosted its position in shares of Procter & Gamble by 1.2% during the third quarter. Ledyard National Bank now owns 81,058 shares of the company’s stock valued at $10,233,000 after buying an additional 961 shares during the last quarter. Autumn Glory Partners LLC boosted its position in shares of Procter & Gamble by 38.9% during the third quarter. Autumn Glory Partners LLC now owns 10,954 shares of the company’s stock valued at $1,383,000 after buying an additional 3,070 shares during the last quarter. Private Wealth Partners LLC lifted its holdings in Procter & Gamble by 9.4% in the third quarter. Private Wealth Partners LLC now owns 28,407 shares of the company’s stock valued at $3,586,000 after acquiring an additional 2,445 shares during the period. Oak Harbor Wealth Partners LLC lifted its holdings in Procter & Gamble by 11.1% in the fourth quarter. Oak Harbor Wealth Partners LLC now owns 30,891 shares of the company’s stock valued at $4,682,000 after acquiring an additional 3,089 shares during the period. Finally, Udine Wealth Management Inc. bought a new position in Procter & Gamble in the third quarter valued at about $752,000. 62.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PG shares. Raymond James increased their target price on Procter & Gamble from $165.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, January 13th. UBS Group raised Procter & Gamble from a “neutral” rating to a “buy” rating and increased their target price for the company from $157.00 to $163.00 in a report on Wednesday, March 1st. Citigroup assumed coverage on Procter & Gamble in a report on Thursday, February 16th. They issued a “buy” rating and a $160.00 target price on the stock. StockNews.com assumed coverage on Procter & Gamble in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. raised Procter & Gamble from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $150.00 to $155.00 in a research note on Friday, March 3rd. Four research 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 company currently has an average rating of “Moderate Buy” and an average price target of $155.27.

Procter & Gamble Stock Up 0.7 %

Shares of PG opened at $151.26 on Thursday. The business’s 50 day moving average is $141.67 and its 200 day moving average is $141.43. The company has a market capitalization of $356.84 billion, a PE ratio of 26.54, a price-to-earnings-growth ratio of 4.17 and a beta of 0.41. The Procter & Gamble Company has a 12-month low of $122.18 and a 12-month high of $164.90. The company has a current ratio of 0.56, a quick ratio of 0.37 and a debt-to-equity ratio of 0.47.

Procter & Gamble (NYSE:PG – Get Rating) last issued its earnings results on Thursday, January 19th. The company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.01. The company had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $20.75 billion. Procter & Gamble had a return on equity of 32.03% and a net margin of 17.79%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter last year, the company earned $1.66 EPS. Research analysts expect 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 announced a quarterly dividend, which was paid on Wednesday, February 15th. Investors of record on Friday, January 20th were paid a dividend of $0.9133 per share. This represents a $3.65 annualized dividend and a yield of 2.42%. The ex-dividend date was Thursday, January 19th. Procter & Gamble’s dividend payout ratio (DPR) is presently 64.04%.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, insider Susan Street Whaley sold 709 shares of the firm’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 completion of the transaction, 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 Securities & Exchange Commission, which is accessible through this link. In other Procter & Gamble news, insider Susan Street Whaley sold 709 shares of the firm’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 completion of the transaction, 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 Securities & Exchange Commission, which is accessible through this link. Also, CEO Jon R. Moeller sold 2,151 shares of the firm’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 transaction, the chief executive officer now 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. Insiders sold 4,766 shares of company stock worth $656,511 in the last quarter. 0.26% of the stock is owned by corporate insiders.

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.