Flagship Harbor Advisors LLC Purchases 385 Shares of The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Jun 23rd, 2023

Flagship Harbor Advisors LLC boosted its position in shares of The Procter & Gamble Company (NYSE:PG – Get Rating) by 1.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,376 shares of the company’s stock after purchasing an additional 385 shares during the period. Flagship Harbor Advisors LLC’s holdings in Procter & Gamble were worth $5,111,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PG. Capital Investment Advisory Services LLC grew its stake in Procter & Gamble by 4.9% in the 4th quarter. Capital Investment Advisory Services LLC now owns 36,681 shares of the company’s stock worth $5,559,000 after acquiring an additional 1,711 shares in the last quarter. Deuterium Capital Management LLC bought a new position in Procter & Gamble in the 4th quarter worth about $675,000. CX Institutional grew its stake in Procter & Gamble by 4.1% in the 4th quarter. CX Institutional now owns 33,743 shares of the company’s stock worth $5,114,000 after acquiring an additional 1,320 shares in the last quarter. Oak Harbor Wealth Partners LLC grew its stake in Procter & Gamble by 11.1% in the 4th quarter. Oak Harbor Wealth Partners LLC now owns 30,891 shares of the company’s stock worth $4,682,000 after acquiring an additional 3,089 shares in the last quarter. Finally, Blue Chip Partners LLC grew its stake in Procter & Gamble by 1.9% in the 4th quarter. Blue Chip Partners LLC now owns 21,503 shares of the company’s stock worth $3,259,000 after acquiring an additional 409 shares in the last quarter. 64.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PG. Barclays upped their target price on shares of Procter & Gamble from $160.00 to $167.00 in a research note on Wednesday, April 26th. Royal Bank of Canada upped their price target on shares of Procter & Gamble from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Monday, April 24th. Truist Financial cut shares of Procter & Gamble from a “buy” rating to a “hold” rating and lowered their price target for the stock from $165.00 to $155.00 in a research report on Thursday, May 18th. Jefferies Financial Group upped their price target on shares of Procter & Gamble from $171.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, April 24th. Finally, Evercore ISI upped their price target on shares of Procter & Gamble from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Monday, April 24th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $161.50.

Procter & Gamble Trading Up 0.3 %

NYSE PG opened at $149.95 on Friday. The company has a fifty day simple moving average of $150.68 and a two-hundred day simple moving average of $147.42. The stock has a market cap of $353.43 billion, a P/E ratio of 26.12, a P/E/G ratio of 4.16 and a beta of 0.41. The Procter & Gamble Company has a 12-month low of $122.18 and a 12-month high of $158.11. The company has a current ratio of 0.59, a quick ratio of 0.39 and a debt-to-equity ratio of 0.51.

Procter & Gamble (NYSE:PG – Get Rating) last posted 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. The business had revenue of $20.07 billion during the quarter, compared to analysts’ expectations of $19.32 billion. Procter & Gamble had a net margin of 17.69% and a return on equity of 32.18%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the company posted $1.33 earnings per share. On average, analysts forecast that The Procter & Gamble Company will post 5.86 earnings per share for the current year.

Procter & Gamble Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Friday, April 21st were issued a $0.9407 dividend. The ex-dividend date of this dividend was Thursday, April 20th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.51%. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.91. Procter & Gamble’s dividend payout ratio (DPR) is currently 65.51%.

Insiders Place Their Bets

In other news, COO Shailesh Jejurikar sold 31,000 shares of the stock in a transaction on Monday, May 1st. The shares were sold at an average price of $156.03, for a total value of $4,836,930.00. Following the sale, the chief operating officer now owns 10,014 shares in the company, valued at $1,562,484.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Shailesh Jejurikar sold 31,000 shares of the stock in a transaction on Monday, May 1st. The shares were sold at an average price of $156.03, for a total value of $4,836,930.00. Following the sale, the chief operating officer now owns 10,014 shares in the company, valued at $1,562,484.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Susan Street Whaley sold 4,852 shares of the firm’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 sale, the insider now owns 7,977 shares in the company, valued at approximately $1,240,184.19. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,093 shares of company stock valued at $14,821,930. Insiders own 0.26% of the company’s stock.

Procter & Gamble Profile

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The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.