Carlton Hofferkamp & Jenks Wealth Management LLC Grows Holdings in The Procter & Gamble Company (NYSE:PG)

Posted by on Apr 13th, 2023

Carlton Hofferkamp & Jenks Wealth Management LLC grew its holdings in The Procter & Gamble Company (NYSE:PG – Get Rating) by 9.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,328 shares of the company’s stock after purchasing an additional 455 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Procter & Gamble were worth $749,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Comprehensive Financial Consultants Institutional Inc. increased its stake in shares of Procter & Gamble by 2.8% during the fourth quarter. Comprehensive Financial Consultants Institutional Inc. now owns 8,315 shares of the company’s stock valued at $1,246,000 after buying an additional 223 shares during the period. Leeward Financial Partners LLC increased its stake in shares of Procter & Gamble by 3.0% during the fourth quarter. Leeward Financial Partners LLC now owns 15,588 shares of the company’s stock valued at $2,363,000 after buying an additional 457 shares during the period. Welch Group LLC increased its stake in shares of Procter & Gamble by 2.5% during the fourth quarter. Welch Group LLC now owns 314,750 shares of the company’s stock valued at $47,703,000 after buying an additional 7,800 shares during the period. Signaturefd LLC increased its stake in shares of Procter & Gamble by 4.1% during the fourth quarter. Signaturefd LLC now owns 56,126 shares of the company’s stock valued at $8,506,000 after buying an additional 2,191 shares during the period. Finally, Paragon Wealth Strategies LLC boosted its position in Procter & Gamble by 487.2% during the fourth quarter. Paragon Wealth Strategies LLC now owns 276 shares of the company’s stock valued at $42,000 after purchasing an additional 229 shares in the last quarter. Hedge funds and other institutional investors own 62.13% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on PG. JPMorgan Chase & Co. raised Procter & Gamble from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $150.00 to $155.00 in a research report on Friday, March 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on Procter & Gamble from $156.00 to $160.00 in a research report on Monday. Citigroup began coverage on Procter & Gamble in a research report on Thursday, February 16th. They set a “buy” rating and a $160.00 price objective on the stock. Wells Fargo & Company dropped their price objective on Procter & Gamble from $168.00 to $162.00 and set an “overweight” rating on the stock in a research report on Friday, January 20th. Finally, Raymond James raised their price target on Procter & Gamble from $165.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, January 13th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Procter & Gamble presently has an average rating of “Moderate Buy” and an average price target of $156.00.

Insider Activity at Procter & Gamble

In related news, insider Susan Street Whaley sold 435 shares of Procter & Gamble stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $141.82, for a total transaction of $61,691.70. Following the completion of the transaction, the insider now directly owns 10,840 shares in the company, valued at $1,537,328.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, 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 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Susan Street Whaley sold 435 shares of the business’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 completion of the sale, the insider now owns 10,840 shares of the company’s stock, valued at $1,537,328.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,766 shares of company stock worth $656,511. 0.26% of the stock is owned by corporate insiders.

Procter & Gamble Trading Up 0.3 %

Procter & Gamble stock opened at $151.07 on Thursday. 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 Procter & Gamble Company has a 52 week low of $122.18 and a 52 week high of $164.90. The company has a market capitalization of $356.40 billion, a price-to-earnings ratio of 26.50, a price-to-earnings-growth ratio of 4.21 and a beta of 0.41. The stock has a 50-day moving average price of $142.49 and a 200 day moving average price of $141.89.

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. The company had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $20.75 billion. Procter & Gamble had a return on equity of 32.03% and a net margin of 17.79%. Procter & Gamble’s quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the business earned $1.66 earnings per share. Sell-side analysts anticipate that The Procter & Gamble Company will post 5.84 EPS for the current year.

Procter & Gamble Increases Dividend

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

Procter & Gamble Company Profile

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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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