Johnson & White Wealth Management LLC Invests $697,000 in The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Jun 28th, 2023

Johnson & White Wealth Management LLC bought a new stake in shares of The Procter & Gamble Company (NYSE:PG – Get Rating) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,687 shares of the company’s stock, valued at approximately $697,000.

Several other institutional investors have also added to or reduced their stakes in PG. Claro Advisors LLC raised its stake in Procter & Gamble by 2.2% in the 1st quarter. Claro Advisors LLC now owns 35,872 shares of the company’s stock worth $5,334,000 after acquiring an additional 782 shares during the last quarter. Covea Finance acquired a new stake in shares of Procter & Gamble during the first quarter worth about $6,171,000. LVM Capital Management Ltd. MI increased its holdings in Procter & Gamble by 0.9% in the 1st quarter. LVM Capital Management Ltd. MI now owns 180,123 shares of the company’s stock worth $26,783,000 after buying an additional 1,650 shares during the period. Prentice Wealth Management LLC raised its position in Procter & Gamble by 4.4% during the 1st quarter. Prentice Wealth Management LLC now owns 3,150 shares of the company’s stock worth $468,000 after buying an additional 134 shares during the last quarter. Finally, West Bancorporation Inc. boosted its holdings in shares of Procter & Gamble by 22.6% in the 1st quarter. West Bancorporation Inc. now owns 3,354 shares of the company’s stock valued at $499,000 after acquiring an additional 619 shares during the last quarter. Institutional investors and hedge funds own 64.65% of the company’s stock.

Procter & Gamble Trading Up 0.9 %

Shares of PG stock opened at $150.02 on Wednesday. The company has a market capitalization of $353.59 billion, a P/E ratio of 26.14, a price-to-earnings-growth 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. The business’s 50 day moving average is $150.56 and its two-hundred day moving average is $147.36. The Procter & Gamble Company has a twelve month low of $122.18 and a twelve month high of $158.11.

Procter & Gamble (NYSE:PG – Get Rating) last announced its quarterly earnings results 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. 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 for the quarter, compared to the consensus estimate of $19.32 billion. During the same quarter in the prior year, the firm earned $1.33 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities analysts forecast that The Procter & Gamble Company will post 5.86 EPS for the current year.

Procter & Gamble Increases Dividend

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

Insider Buying and Selling at Procter & Gamble

In related news, CFO Andre Schulten sold 25,244 shares of Procter & Gamble stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 27,118 shares in the company, valued at $4,210,611.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Andre Schulten sold 25,244 shares of the 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 owns 27,118 shares in the company, valued at approximately $4,210,611.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Balaji Purushothaman sold 12,300 shares of the company’s stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $156.33, for a total value of $1,922,859.00. Following the completion of the sale, the insider now owns 13,001 shares of the company’s stock, valued at $2,032,446.33. The disclosure for this sale can be found here. Insiders have sold a total of 95,093 shares of company stock valued at $14,821,930 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PG. StockNews.com assumed coverage on shares of Procter & Gamble in a research note on Thursday, May 18th. They issued a “buy” rating for the company. JPMorgan Chase & Co. raised shares of Procter & Gamble from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $150.00 to $155.00 in a report on Friday, March 3rd. Raymond James increased their price target on Procter & Gamble from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Sunday, April 23rd. Morgan Stanley boosted their price target on shares of Procter & Gamble from $160.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, April 24th. Finally, Jefferies Financial Group upped their price target on Procter & Gamble from $171.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, April 24th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average 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.