Fragasso Group Inc. Trims Stock Holdings in The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Jun 25th, 2023

Fragasso Group Inc. trimmed its position in The Procter & Gamble Company (NYSE:PG – Get Rating) by 0.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,126 shares of the company’s stock after selling 102 shares during the period. Fragasso Group Inc.’s holdings in Procter & Gamble were worth $1,654,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PG. Keystone Wealth Services LLC increased its position in Procter & Gamble by 2.7% during the first quarter. Keystone Wealth Services LLC now owns 2,562 shares of the company’s stock valued at $381,000 after acquiring an additional 67 shares during the last quarter. Newbridge Financial Services Group Inc. increased its position in Procter & Gamble by 1.8% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,824 shares of the company’s stock worth $580,000 after buying an additional 69 shares in the last quarter. Calton & Associates Inc. increased its position in Procter & Gamble by 2.0% in the fourth quarter. Calton & Associates Inc. now owns 3,536 shares of the company’s stock worth $536,000 after buying an additional 71 shares in the last quarter. Bourgeon Capital Management LLC increased its position in Procter & Gamble by 39.9% in the fourth quarter. Bourgeon Capital Management LLC now owns 249 shares of the company’s stock worth $38,000 after buying an additional 71 shares in the last quarter. Finally, Atticus Wealth Management LLC increased its position in Procter & Gamble by 0.8% in the fourth quarter. Atticus Wealth Management LLC now owns 8,751 shares of the company’s stock worth $1,326,000 after buying an additional 71 shares in the last quarter. 64.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Shailesh Jejurikar sold 31,000 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $156.03, for a total value of $4,836,930.00. Following the completion of the sale, the chief operating officer now directly owns 10,014 shares of the company’s stock, valued at approximately $1,562,484.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Shailesh Jejurikar sold 31,000 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $156.03, for a total value of $4,836,930.00. Following the completion of the sale, the chief operating officer now directly owns 10,014 shares of the company’s stock, valued at approximately $1,562,484.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $3,919,635.88. Following the sale, 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. Insiders sold 95,093 shares of company stock valued at $14,821,930 in the last ninety days. Insiders own 0.26% of the company’s stock.

Procter & Gamble Price Performance

Shares of Procter & Gamble stock opened at $148.46 on Friday. The stock has a 50 day moving average of $150.63 and a 200 day moving average of $147.41. The Procter & Gamble Company has a 12 month low of $122.18 and a 12 month high of $158.11. The firm has a market cap of $349.92 billion, a PE ratio of 25.86, a PEG ratio of 4.13 and a beta of 0.41. 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 announced its quarterly earnings results on Friday, April 21st. The company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.05. The company had revenue of $20.07 billion during the quarter, compared to analyst estimates of $19.32 billion. Procter & Gamble had a return on equity of 32.18% and a net margin of 17.69%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.33 earnings per share. On average, research analysts expect that The Procter & Gamble Company will post 5.86 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

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

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Truist Financial cut Procter & Gamble from a “buy” rating to a “hold” rating and reduced their price target for the stock from $165.00 to $155.00 in a research report on Thursday, May 18th. Royal Bank of Canada upped their price target on Procter & Gamble from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Monday, April 24th. StockNews.com initiated coverage on Procter & Gamble in a research report on Thursday, May 18th. They set a “buy” rating for the company. Morgan Stanley increased their target price on Procter & Gamble from $160.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, April 24th. Finally, UBS Group increased their target price on Procter & Gamble from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, April 24th. Five 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 has a consensus rating of “Moderate Buy” and a consensus target price of $161.50.

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.