Capital Investment Counsel Inc Acquires 2,727 Shares of The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Apr 16th, 2023

Capital Investment Counsel Inc raised its holdings in The Procter & Gamble Company (NYSE:PG – Get Rating) by 8.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,053 shares of the company’s stock after purchasing an additional 2,727 shares during the quarter. Procter & Gamble makes up about 1.3% of Capital Investment Counsel Inc’s investment portfolio, making the stock its 18th largest position. Capital Investment Counsel Inc’s holdings in Procter & Gamble were worth $5,464,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. EWG Elevate Inc. bought a new stake in shares of Procter & Gamble during the fourth quarter worth $26,000. Legend Financial Advisors Inc. bought a new stake in shares of Procter & Gamble during the third quarter worth $30,000. Bourgeon Capital Management LLC raised its position in shares of Procter & Gamble by 39.9% during the fourth quarter. Bourgeon Capital Management LLC now owns 249 shares of the company’s stock worth $38,000 after acquiring an additional 71 shares during the last quarter. Paragon Wealth Strategies LLC raised its position in shares of Procter & Gamble by 487.2% during the fourth quarter. Paragon Wealth Strategies LLC now owns 276 shares of the company’s stock worth $42,000 after acquiring an additional 229 shares during the last quarter. Finally, Belmont Capital LLC raised its position in shares of Procter & Gamble by 40.0% during the third quarter. Belmont Capital LLC now owns 385 shares of the company’s stock worth $49,000 after acquiring an additional 110 shares during the last quarter. Institutional investors own 62.13% of the company’s stock.

Insider Activity

In other news, CFO Andre Schulten sold 1,311 shares of the business’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $137.34, for a total value of $180,052.74. Following the sale, the chief financial officer now directly owns 35,142 shares in the company, valued at $4,826,402.28. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Andre Schulten sold 1,311 shares of the company’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $137.34, for a total transaction of $180,052.74. Following the sale, the chief financial officer now owns 35,142 shares in the company, valued at $4,826,402.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jon R. Moeller sold 2,151 shares of the company’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $137.34, for a total value of $295,418.34. Following the sale, the chief executive officer now owns 226,748 shares in the company, valued at approximately $31,141,570.32. 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 three months. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

PG has been the subject of a number of analyst reports. UBS Group lifted their price objective on Procter & Gamble from $163.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. JPMorgan Chase & Co. raised Procter & Gamble from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $150.00 to $155.00 in a research note on Friday, March 3rd. Raymond James lifted their price objective on Procter & Gamble from $165.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, January 13th. Barclays lifted their price objective on Procter & Gamble from $158.00 to $160.00 in a research note on Friday. Finally, StockNews.com initiated coverage on Procter & Gamble in a research note on Thursday, March 16th. They set a “hold” rating for the company. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $156.13.

Procter & Gamble Stock Down 0.5 %

NYSE:PG opened at $151.00 on Friday. The stock has a market cap of $356.23 billion, a price-to-earnings ratio of 26.49, a PEG ratio of 4.24 and a beta of 0.41. The stock has a 50-day moving average price of $143.01 and a two-hundred day moving average price of $142.19. The Procter & Gamble Company has a 1 year low of $122.18 and a 1 year 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 quarterly earnings results on Thursday, January 19th. The company reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.01. The company had revenue of $20.77 billion for the quarter, compared to analyst estimates of $20.75 billion. Procter & Gamble had a return on equity of 32.03% and a net margin of 17.79%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.66 earnings per share. As a group, equities analysts expect that The Procter & Gamble Company will post 5.84 earnings per share for the current year.

Procter & Gamble Increases Dividend

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

Procter & Gamble 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.