Welch Group LLC Has $47.70 Million Position in The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Apr 13th, 2023

Welch Group LLC raised its stake in shares of The Procter & Gamble Company (NYSE:PG – Get Rating) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 314,750 shares of the company’s stock after acquiring an additional 7,800 shares during the period. Procter & Gamble comprises approximately 2.7% of Welch Group LLC’s investment portfolio, making the stock its 17th largest holding. Welch Group LLC’s holdings in Procter & Gamble were worth $47,703,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of PG. EWG Elevate Inc. bought a new position in Procter & Gamble during the 4th quarter valued at $26,000. Legend Financial Advisors Inc. bought a new stake in shares of Procter & Gamble during the 3rd quarter worth $30,000. Bourgeon Capital Management LLC raised its stake in shares of Procter & Gamble by 39.9% during the 4th quarter. Bourgeon Capital Management LLC now owns 249 shares of the company’s stock worth $38,000 after purchasing an additional 71 shares during the period. Paragon Wealth Strategies LLC boosted its holdings in shares of Procter & Gamble by 487.2% in the 4th quarter. Paragon Wealth Strategies LLC now owns 276 shares of the company’s stock worth $42,000 after buying an additional 229 shares during the last quarter. Finally, Belmont Capital LLC boosted its holdings in shares of Procter & Gamble by 40.0% in the 3rd quarter. Belmont Capital LLC now owns 385 shares of the company’s stock worth $49,000 after buying an additional 110 shares during the last quarter. 62.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Raymond James boosted their price target on shares of Procter & Gamble from $165.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, January 13th. Citigroup assumed coverage on shares of Procter & Gamble in a report on Thursday, February 16th. They issued a “buy” rating and a $160.00 price target on the stock. JPMorgan Chase & Co. raised shares of 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 report on Friday, March 3rd. 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 report on Friday, January 20th. Finally, Barclays dropped their price objective on shares of Procter & Gamble from $161.00 to $158.00 and set an “overweight” rating on the stock in a 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. According to data from MarketBeat, Procter & Gamble has a consensus rating of “Moderate Buy” and a consensus price target of $156.00.

Procter & Gamble Trading Up 0.3 %

Shares of PG opened at $151.07 on Thursday. The business’s 50-day moving average price is $142.49 and its 200-day moving average price is $141.89. The Procter & Gamble Company has a twelve month low of $122.18 and a twelve month high of $164.90. The stock has a market cap of $356.40 billion, a PE ratio of 26.50, a P/E/G ratio of 4.21 and a beta of 0.41. The company has a quick ratio of 0.37, a current ratio of 0.56 and a debt-to-equity ratio of 0.47.

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

Procter & Gamble Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Friday, April 21st will be given a dividend of $0.9407 per share. The ex-dividend date of this dividend is Thursday, April 20th. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.91. This represents a $3.76 annualized dividend and a dividend yield of 2.49%. Procter & Gamble’s dividend payout ratio is currently 64.04%.

Insider Activity

In related news, CFO Andre Schulten sold 1,311 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 value of $180,052.74. Following the transaction, the chief financial officer now directly owns 35,142 shares in the company, valued at $4,826,402.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Susan Street Whaley sold 435 shares of the company’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $141.82, for a total value of $61,691.70. Following the transaction, the insider now directly owns 10,840 shares in the company, valued at $1,537,328.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Andre Schulten sold 1,311 shares of the company’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 value of $180,052.74. Following the completion of the sale, 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 have 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.

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.