Granite Bay Wealth Management LLC Buys New Stake in The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Apr 9th, 2023

Granite Bay Wealth Management LLC purchased a new stake in shares of The Procter & Gamble Company (NYSE:PG – Get Rating) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,692 shares of the company’s stock, valued at approximately $256,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ledyard National Bank lifted its position in shares of Procter & Gamble by 1.2% during the 3rd 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 in the last quarter. Autumn Glory Partners LLC increased its stake 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 worth $1,383,000 after purchasing an additional 3,070 shares in the last quarter. Private Wealth Partners LLC raised its position in shares of Procter & Gamble by 9.4% during the 3rd quarter. Private Wealth Partners LLC now owns 28,407 shares of the company’s stock worth $3,586,000 after purchasing an additional 2,445 shares during the last quarter. Oak Harbor Wealth Partners LLC lifted its stake in Procter & Gamble by 11.1% in the 4th quarter. Oak Harbor Wealth Partners LLC now owns 30,891 shares of the company’s stock valued at $4,682,000 after buying an additional 3,089 shares in the last quarter. Finally, Udine Wealth Management Inc. purchased a new stake in Procter & Gamble during the 3rd quarter worth approximately $752,000. Hedge funds and other institutional investors own 62.13% of the company’s stock.

Procter & Gamble Stock Performance

Shares of Procter & Gamble stock opened at $152.22 on Friday. The business’s fifty day simple moving average is $142.13 and its 200-day simple moving average is $141.63. 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 firm has a market cap of $359.11 billion, a PE ratio of 26.71, a price-to-earnings-growth ratio of 4.25 and a beta of 0.41. The Procter & Gamble Company has a 52 week low of $122.18 and a 52 week high of $164.90.

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

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 15th. Shareholders of record on Friday, January 20th were paid a dividend of $0.9133 per share. This represents a $3.65 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend was Thursday, January 19th. Procter & Gamble’s dividend payout ratio (DPR) is 64.04%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PG shares. UBS Group raised their target price on Procter & Gamble from $163.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Procter & Gamble from $162.00 to $156.00 in a research note on Monday, March 20th. StockNews.com initiated coverage on shares of Procter & Gamble in a research report on Thursday, March 16th. They issued a “hold” rating for the company. Stifel Nicolaus boosted their price target 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. Finally, Barclays cut their price objective 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 research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Procter & Gamble currently has a consensus rating of “Moderate Buy” and an average target price of $155.73.

Insider Transactions at Procter & Gamble

In related news, insider Susan Street Whaley sold 709 shares of the stock in a transaction dated Wednesday, March 1st. The stock was 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 filing with the SEC, which is available through this hyperlink. In related news, insider Susan Street Whaley sold 709 shares of the company’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 sale, the insider now directly owns 10,198 shares of the company’s stock, valued at approximately $1,400,593.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Andre Schulten sold 1,311 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 transaction of $180,052.74. Following the completion of the transaction, the chief financial officer now directly owns 35,142 shares of the company’s stock, 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 worth $656,511 over the last ninety days. Company insiders own 0.26% of the company’s stock.

Procter & Gamble Company Profile

(Get Rating)

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.