Balentine LLC Acquires 15,364 Shares of The Procter & Gamble Company (NYSE:PG)

Posted by on Apr 16th, 2023

Balentine LLC boosted its holdings in The Procter & Gamble Company (NYSE:PG – Get Rating) by 24.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 79,480 shares of the company’s stock after acquiring an additional 15,364 shares during the quarter. Procter & Gamble accounts for about 0.4% of Balentine LLC’s investment portfolio, making the stock its 22nd largest position. Balentine LLC’s holdings in Procter & Gamble were worth $12,046,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Axiom Financial Strategies LLC increased its position in shares of Procter & Gamble by 7.0% during the 1st quarter. Axiom Financial Strategies LLC now owns 1,728 shares of the company’s stock valued at $276,000 after purchasing an additional 113 shares during the last quarter. AMI Investment Management Inc. increased its position in shares of Procter & Gamble by 7.2% during the 1st quarter. AMI Investment Management Inc. now owns 3,461 shares of the company’s stock valued at $529,000 after purchasing an additional 233 shares during the last quarter. LSV Asset Management increased its position in shares of Procter & Gamble by 5.7% during the 1st quarter. LSV Asset Management now owns 18,600 shares of the company’s stock valued at $2,842,000 after purchasing an additional 1,000 shares during the last quarter. Ergoteles LLC bought a new position in shares of Procter & Gamble during the 1st quarter valued at about $3,073,000. Finally, Wsfs Capital Management LLC increased its position in shares of Procter & Gamble by 12.0% during the 1st quarter. Wsfs Capital Management LLC now owns 4,256 shares of the company’s stock valued at $650,000 after purchasing an additional 455 shares during the last quarter. 62.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Raymond James raised their price target on Procter & Gamble from $165.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, January 13th. Wells Fargo & Company reduced their price target 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. JPMorgan Chase & Co. upgraded Procter & Gamble from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $150.00 to $155.00 in a research report on Friday, March 3rd. Barclays raised their price target on Procter & Gamble from $158.00 to $160.00 in a research report on Friday. Finally, Stifel Nicolaus raised their price target on Procter & Gamble from $139.00 to $147.00 and gave the stock a “hold” rating in a research report on Friday, January 20th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $156.13.

Insider Activity

In other news, insider Susan Street Whaley sold 435 shares of the firm’s stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $141.82, for a total value of $61,691.70. Following the completion of the transaction, the insider now owns 10,840 shares in the company, valued at approximately $1,537,328.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Procter & Gamble news, CEO Jon R. Moeller sold 2,151 shares of Procter & Gamble stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $137.34, for a total transaction of $295,418.34. Following the completion of the transaction, the chief executive officer now owns 226,748 shares in the company, valued at $31,141,570.32. The sale 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 Procter & Gamble stock in a transaction 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 owns 10,840 shares of the company’s stock, valued at approximately $1,537,328.80. The disclosure for this sale can be found here. Insiders sold a total of 4,766 shares of company stock worth $656,511 in the last quarter. 0.26% of the stock is owned by company insiders.

Procter & Gamble Trading Down 0.5 %

NYSE PG opened at $151.00 on Friday. The Procter & Gamble Company has a fifty-two week low of $122.18 and a fifty-two week high of $164.90. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.37 and a current ratio of 0.56. The stock has a 50 day simple moving average of $143.01 and a two-hundred day simple moving average of $142.19. The stock has a market cap of $356.23 billion, a P/E ratio of 26.49, a price-to-earnings-growth ratio of 4.24 and a beta of 0.41.

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

Procter & Gamble Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Friday, April 21st will be paid a $0.9407 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.49%. 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. Procter & Gamble’s dividend payout ratio (DPR) is presently 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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