Harbour Investments Inc. Increases Stock Position in The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Jun 15th, 2023

Harbour Investments Inc. boosted its stake in The Procter & Gamble Company (NYSE:PG – Get Rating) by 16.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 163,127 shares of the company’s stock after acquiring an additional 22,974 shares during the period. Procter & Gamble accounts for about 1.5% of Harbour Investments Inc.’s holdings, making the stock its 10th biggest position. Harbour Investments Inc.’s holdings in Procter & Gamble were worth $24,723,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in PG. Capital Investment Advisory Services LLC increased its stake in shares of Procter & Gamble by 4.9% in the fourth quarter. Capital Investment Advisory Services LLC now owns 36,681 shares of the company’s stock worth $5,559,000 after purchasing an additional 1,711 shares in the last quarter. Deuterium Capital Management LLC purchased a new position in shares of Procter & Gamble in the fourth quarter worth about $675,000. CX Institutional increased its stake in shares of Procter & Gamble by 4.1% in the fourth quarter. CX Institutional now owns 33,743 shares of the company’s stock worth $5,114,000 after purchasing an additional 1,320 shares in the last quarter. Oak Harbor Wealth Partners LLC increased its stake in shares of Procter & Gamble by 11.1% in the fourth quarter. Oak Harbor Wealth Partners LLC now owns 30,891 shares of the company’s stock worth $4,682,000 after purchasing an additional 3,089 shares in the last quarter. Finally, Blue Chip Partners LLC increased its stake in shares of Procter & Gamble by 1.9% in the fourth quarter. Blue Chip Partners LLC now owns 21,503 shares of the company’s stock worth $3,259,000 after purchasing an additional 409 shares in the last quarter. Institutional investors own 62.13% of the company’s stock.

Procter & Gamble Trading Up 0.9 %

Shares of PG opened at $146.41 on Thursday. The firm has a market cap of $345.08 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 4.04 and a beta of 0.41. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.39 and a current ratio of 0.59. The Procter & Gamble Company has a fifty-two week low of $122.18 and a fifty-two week high of $158.11. The firm has a 50 day moving average price of $150.95 and a 200-day moving average price of $147.38.

Procter & Gamble (NYSE:PG – Get Rating) last announced its quarterly earnings data on Friday, April 21st. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.05. Procter & Gamble had a net margin of 17.69% and a return on equity of 32.18%. The firm had revenue of $20.07 billion during the quarter, compared to analyst estimates of $19.32 billion. During the same period in the previous year, the business posted $1.33 EPS. The business’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, equities research analysts forecast that The Procter & Gamble Company will post 5.86 earnings per share for the current year.

Procter & Gamble Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Friday, April 21st were issued a dividend of $0.9407 per share. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.91. This represents a $3.76 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date was Thursday, April 20th. Procter & Gamble’s dividend payout ratio is currently 65.51%.

Insider Activity at Procter & Gamble

In related news, insider Susan Street Whaley sold 4,852 shares of the company’s stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $155.47, for a total transaction of $754,340.44. Following the completion of the sale, the insider now directly owns 7,977 shares in the company, valued at approximately $1,240,184.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Procter & Gamble news, CEO Ma. Fatima Francisco sold 8,000 shares of the company’s stock in a transaction on Monday, April 24th. The shares were sold at an average price of $156.84, for a total value of $1,254,720.00. Following the completion of the transaction, the chief executive officer now directly owns 9,343 shares in the company, valued at approximately $1,465,356.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Susan Street Whaley sold 4,852 shares of the company’s stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $155.47, for a total transaction of $754,340.44. Following the completion of the transaction, the insider now owns 7,977 shares of the company’s stock, valued at $1,240,184.19. The disclosure for this sale can be found here. Insiders sold 95,093 shares of company stock worth $14,821,930 in the last three months. 0.26% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently commented on PG. Jefferies Financial Group boosted their price objective on shares of Procter & Gamble from $171.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, April 24th. Raymond James boosted their price objective on shares of Procter & Gamble from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Sunday, April 23rd. Evercore ISI boosted their price objective on shares of Procter & Gamble from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Monday, April 24th. UBS Group boosted their price objective on shares of Procter & Gamble from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, April 24th. Finally, Truist Financial cut shares of Procter & Gamble from a “buy” rating to a “hold” rating and cut their price target for the stock from $165.00 to $155.00 in a research note on Thursday, May 18th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $161.50.

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.