Objective Capital Management LLC Increases Position in The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Jun 17th, 2023

Objective Capital Management LLC lifted its holdings in The Procter & Gamble Company (NYSE:PG – Get Rating) by 3.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,374 shares of the company’s stock after buying an additional 138 shares during the period. Objective Capital Management LLC’s holdings in Procter & Gamble were worth $663,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PG. Axiom Financial Strategies LLC lifted its stake in Procter & Gamble by 7.0% in the first 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. raised its holdings in 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 acquiring an additional 233 shares during the period. LSV Asset Management raised its holdings in 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 acquiring an additional 1,000 shares during the period. Ergoteles LLC bought a new stake in Procter & Gamble during the 1st quarter valued at $3,073,000. Finally, Wsfs Capital Management LLC raised its holdings in 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 acquiring an additional 455 shares during the period. Hedge funds and other institutional investors own 62.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PG shares. Royal Bank of Canada boosted their target price on shares of Procter & Gamble from $160.00 to $165.00 and gave the company a “sector perform” rating in a report on Monday, April 24th. Truist Financial cut shares of Procter & Gamble from a “buy” rating to a “hold” rating and lowered their target price for the company from $165.00 to $155.00 in a report on Thursday, May 18th. Jefferies Financial Group boosted their target price on shares of Procter & Gamble from $171.00 to $175.00 and gave the company a “buy” rating in a report on Monday, April 24th. Barclays upped their price target on shares of Procter & Gamble from $160.00 to $167.00 in a report on Wednesday, April 26th. Finally, Morgan Stanley upped their price target on shares of Procter & Gamble from $160.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, April 24th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Procter & Gamble currently has a consensus rating of “Moderate Buy” and an average target price of $161.50.

Insider Activity at Procter & Gamble

In related news, CFO Andre Schulten sold 25,244 shares of the firm’s stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $155.27, for a total transaction of $3,919,635.88. Following the completion of the sale, the chief financial officer now owns 27,118 shares of the company’s stock, valued at $4,210,611.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Susan Street Whaley sold 4,852 shares of the firm’s stock in a transaction that occurred 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 owns 7,977 shares of the company’s stock, valued at $1,240,184.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andre Schulten sold 25,244 shares of the firm’s stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $155.27, for a total transaction of $3,919,635.88. Following the completion of the sale, the chief financial officer now owns 27,118 shares in the company, valued at approximately $4,210,611.86. The disclosure for this sale can be found here. Insiders sold 95,093 shares of company stock valued at $14,821,930 over the last 90 days. Corporate insiders own 0.26% of the company’s stock.

Procter & Gamble Price Performance

PG stock opened at $149.53 on Friday. The Procter & Gamble Company has a 1 year low of $122.18 and a 1 year high of $158.11. The company has a market cap of $352.44 billion, a P/E ratio of 26.05, a PEG ratio of 4.13 and a beta of 0.41. The firm has a 50-day moving average of $150.82 and a 200 day moving average of $147.41. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.59 and a quick ratio of 0.39.

Procter & Gamble (NYSE:PG – Get Rating) last released its quarterly earnings results on Friday, April 21st. The company reported $1.37 earnings per share (EPS) 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 company had revenue of $20.07 billion during the quarter, compared to the consensus estimate of $19.32 billion. During the same period in the prior year, the firm earned $1.33 earnings per share. Procter & Gamble’s revenue was up 3.5% on a year-over-year basis. On average, sell-side analysts forecast that The Procter & Gamble Company will post 5.86 EPS for the current year.

Procter & Gamble Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Friday, April 21st were paid a dividend of $0.9407 per share. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.91. The ex-dividend date was Thursday, April 20th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.52%. Procter & Gamble’s dividend payout ratio (DPR) is currently 65.51%.

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.