Atlas Private Wealth Advisors Trims Position in The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Jun 24th, 2023

Atlas Private Wealth Advisors cut its holdings in shares of The Procter & Gamble Company (NYSE:PG – Get Rating) by 7.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,716 shares of the company’s stock after selling 531 shares during the quarter. Atlas Private Wealth Advisors’ holdings in Procter & Gamble were worth $999,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Moneta Group Investment Advisors LLC grew its stake in shares of Procter & Gamble by 96,526.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 38,535,557 shares of the company’s stock worth $5,840,449,000 after purchasing an additional 38,495,676 shares during the period. Norges Bank acquired a new stake in shares of Procter & Gamble during the 4th quarter worth approximately $3,752,321,000. Morgan Stanley grew its stake in shares of Procter & Gamble by 12.6% during the 4th quarter. Morgan Stanley now owns 44,320,700 shares of the company’s stock worth $6,717,246,000 after purchasing an additional 4,959,527 shares during the period. Alliancebernstein L.P. grew its stake in shares of Procter & Gamble by 43.9% during the 4th quarter. Alliancebernstein L.P. now owns 9,462,510 shares of the company’s stock worth $1,434,138,000 after purchasing an additional 2,888,007 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Procter & Gamble by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 224,570,227 shares of the company’s stock worth $28,351,991,000 after purchasing an additional 2,197,165 shares during the period. 64.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Procter & Gamble

In related news, insider Susan Street Whaley sold 4,852 shares of the business’s stock in a transaction dated Wednesday, April 26th. The shares were sold at an average price of $155.47, for a total value of $754,340.44. Following the sale, the insider now directly owns 7,977 shares in the company, valued at approximately $1,240,184.19. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Procter & Gamble news, insider Susan Street Whaley sold 4,852 shares of Procter & Gamble stock in a transaction dated Wednesday, April 26th. The stock was sold at an average price of $155.47, for a total value of $754,340.44. Following the completion of the transaction, the insider now directly owns 7,977 shares of the company’s stock, valued at approximately $1,240,184.19. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Andre Schulten sold 25,244 shares of Procter & Gamble stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $155.27, for a total value of $3,919,635.88. Following the completion of the transaction, the chief financial officer now directly owns 27,118 shares of the company’s stock, valued at $4,210,611.86. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,093 shares of company stock worth $14,821,930. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PG. Barclays raised their price objective on shares of Procter & Gamble from $160.00 to $167.00 in a research note on Wednesday, April 26th. UBS Group lifted their price target 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. StockNews.com started coverage on shares of Procter & Gamble in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. raised shares of Procter & Gamble from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $150.00 to $155.00 in a research note on Friday, March 3rd. Finally, Raymond James lifted their price target 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. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $161.50.

Procter & Gamble Stock Down 1.0 %

NYSE PG opened at $148.46 on Friday. The Procter & Gamble Company has a 52 week low of $122.18 and a 52 week high of $158.11. The company has a quick ratio of 0.39, a current ratio of 0.59 and a debt-to-equity ratio of 0.51. The business’s fifty day simple moving average is $150.63 and its 200-day simple moving average is $147.42. The firm has a market cap of $349.90 billion, a PE ratio of 25.86, a P/E/G ratio of 4.16 and a beta of 0.41.

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

Procter & Gamble Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Friday, April 21st were issued a $0.9407 dividend. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.91. This represents a $3.76 annualized dividend and a yield of 2.53%. The ex-dividend date was Thursday, April 20th. Procter & Gamble’s payout ratio is 65.51%.

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.