Douglas Lane & Associates LLC Raises Stake in The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Jun 29th, 2023

Douglas Lane & Associates LLC increased its stake in The Procter & Gamble Company (NYSE:PG – Free Report) by 0.9% during the first quarter, according to its most recent filing with the SEC. The fund owned 21,982 shares of the company’s stock after buying an additional 186 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Procter & Gamble were worth $3,268,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Gradient Investments LLC boosted its holdings in shares of Procter & Gamble by 32.4% in the 1st quarter. Gradient Investments LLC now owns 97,938 shares of the company’s stock worth $14,562,000 after buying an additional 23,960 shares during the last quarter. Johnson & White Wealth Management LLC purchased a new position in shares of Procter & Gamble in the 1st quarter worth about $697,000. Claro Advisors LLC boosted its holdings in shares of 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 buying an additional 782 shares during the last quarter. Covea Finance purchased a new position in shares of Procter & Gamble in the 1st quarter worth about $6,171,000. Finally, LVM Capital Management Ltd. MI boosted its holdings in shares of 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 last quarter. 64.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, CAO Matthew W. Janzaruk sold 13,697 shares of the firm’s stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $155.76, for a total transaction of $2,133,444.72. Following the completion of the transaction, the chief accounting officer now owns 883 shares of the company’s stock, valued at $137,536.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 sale, the chief financial officer now directly owns 27,118 shares in the company, valued at approximately $4,210,611.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Matthew W. Janzaruk sold 13,697 shares of Procter & Gamble stock in a transaction dated Wednesday, April 26th. The stock was sold at an average price of $155.76, for a total value of $2,133,444.72. Following the completion of the sale, the chief accounting officer now owns 883 shares of the company’s stock, valued at $137,536.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,093 shares of company stock valued at $14,821,930. 0.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on PG. JPMorgan Chase & Co. raised shares of Procter & Gamble from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $150.00 to $155.00 in a report on Friday, March 3rd. Morgan Stanley upped their price objective on shares of Procter & Gamble from $160.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, April 24th. StockNews.com initiated coverage on shares of Procter & Gamble in a report on Thursday, May 18th. They set a “buy” rating on the stock. Jefferies Financial Group upped their price objective 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. Finally, Royal Bank of Canada upped their price objective 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. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $161.50.

Procter & Gamble Stock Down 0.0 %

Shares of NYSE PG opened at $149.99 on Thursday. The stock has a market capitalization of $353.52 billion, a P/E ratio of 26.13, a PEG ratio of 4.13 and a beta of 0.41. The Procter & Gamble Company has a one year low of $122.18 and a one year high of $158.11. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.59 and a quick ratio of 0.39. The firm’s 50 day simple moving average is $150.53 and its two-hundred day simple moving average is $147.38.

Procter & Gamble (NYSE:PG – Free Report) last announced its quarterly earnings results on Friday, April 21st. The company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.05. Procter & Gamble had a return on equity of 32.18% and a net margin of 17.69%. The company had revenue of $20.07 billion during the quarter, compared to analyst estimates of $19.32 billion. During the same quarter last year, the firm posted $1.33 earnings per share. The firm’s revenue was up 3.5% on a year-over-year basis. As a group, analysts expect that The Procter & Gamble Company will post 5.86 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently disclosed 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. The ex-dividend date was Thursday, April 20th. This represents a $3.76 annualized dividend and a yield of 2.51%. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.91. Procter & Gamble’s dividend payout ratio (DPR) is currently 65.51%.

Procter & Gamble Profile

(Free Report)

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.