Wedgewood Investors Inc. PA Acquires 426 Shares of The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Apr 8th, 2023

Wedgewood Investors Inc. PA raised its holdings in The Procter & Gamble Company (NYSE:PG – Get Rating) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,303 shares of the company’s stock after buying an additional 426 shares during the period. Procter & Gamble accounts for about 2.5% of Wedgewood Investors Inc. PA’s portfolio, making the stock its 6th largest holding. Wedgewood Investors Inc. PA’s holdings in Procter & Gamble were worth $1,865,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. EWG Elevate Inc. bought a new position in shares of Procter & Gamble in the 4th quarter valued at about $26,000. Legend Financial Advisors Inc. bought a new position in shares of Procter & Gamble in the 3rd quarter valued at about $30,000. Bourgeon Capital Management LLC grew its position in shares of Procter & Gamble by 39.9% in the 4th quarter. Bourgeon Capital Management LLC now owns 249 shares of the company’s stock valued at $38,000 after acquiring an additional 71 shares during the period. Belmont Capital LLC grew its position 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 acquiring an additional 110 shares during the period. Finally, Align Wealth Management LLC bought a new position in shares of Procter & Gamble in the 4th quarter valued at about $50,000. 62.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PG has been the subject of a number of analyst reports. UBS Group lifted their price objective on shares of Procter & Gamble from $163.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday. Stifel Nicolaus lifted their price objective on shares of Procter & Gamble from $139.00 to $147.00 and gave the company a “hold” rating in a research report on Friday, January 20th. Citigroup began coverage on shares of Procter & Gamble in a report on Thursday, February 16th. They set a “buy” rating and a $160.00 target price for the company. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Procter & Gamble from $162.00 to $156.00 in a report on Monday, March 20th. Finally, Barclays reduced their target price on shares of Procter & Gamble from $161.00 to $158.00 and set an “overweight” rating for the company 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $155.73.

Insider Activity

In other 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 transaction, the insider now directly owns 10,198 shares in the company, valued at approximately $1,400,593.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Andre Schulten sold 1,311 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 $180,052.74. Following the completion of the transaction, the chief financial officer now directly owns 35,142 shares in the company, valued at approximately $4,826,402.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $97,374.06. Following the completion of the transaction, the insider now owns 10,198 shares of the company’s stock, valued at $1,400,593.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,766 shares of company stock worth $656,511. 0.26% of the stock is currently owned by corporate insiders.

Procter & Gamble Stock Performance

NYSE PG opened at $152.22 on Friday. 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 company has a market capitalization of $359.11 billion, a P/E ratio of 26.71, a P/E/G ratio of 4.22 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 firm has a 50-day moving average price of $142.13 and a two-hundred day moving average price of $141.60.

Procter & Gamble (NYSE:PG – Get Rating) last posted its quarterly earnings data 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. The firm 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 business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.66 EPS. Analysts anticipate that The Procter & Gamble Company will post 5.84 earnings per share for the current year.

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 15th. Stockholders of record on Friday, January 20th were given a $0.9133 dividend. This represents a $3.65 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend was Thursday, January 19th. Procter & Gamble’s payout ratio is presently 64.04%.

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.