Galvin Gaustad & Stein LLC Has $13.80 Million Stake in The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Jun 30th, 2023

Galvin Gaustad & Stein LLC increased its position in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 3.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 92,831 shares of the company’s stock after buying an additional 2,997 shares during the period. Galvin Gaustad & Stein LLC’s holdings in Procter & Gamble were worth $13,803,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Procter & Gamble by 1.0% during the third quarter. Vanguard Group Inc. now owns 224,570,227 shares of the company’s stock worth $28,351,991,000 after buying an additional 2,197,165 shares during the last quarter. State Street Corp boosted its position in Procter & Gamble by 0.8% during the third quarter. State Street Corp now owns 104,749,256 shares of the company’s stock worth $13,224,594,000 after purchasing an additional 797,652 shares during the period. Geode Capital Management LLC boosted its position in Procter & Gamble by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 46,243,572 shares of the company’s stock worth $6,997,559,000 after purchasing an additional 323,292 shares during the period. Morgan Stanley boosted its position in Procter & Gamble by 12.6% during the fourth 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. Finally, Moneta Group Investment Advisors LLC boosted its position in Procter & Gamble by 96,526.4% during the fourth 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. 64.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Truist Financial cut shares of Procter & Gamble from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $165.00 to $155.00 in a research report on Thursday, May 18th. Barclays lifted their price objective on shares of Procter & Gamble from $160.00 to $167.00 in a research report on Wednesday, April 26th. Raymond James boosted their target price on shares of Procter & Gamble from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Sunday, April 23rd. StockNews.com began coverage on shares of Procter & Gamble in a research report on Thursday, May 18th. They issued a “buy” rating for the company. Finally, UBS Group boosted their target price on shares of Procter & Gamble from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Monday, April 24th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Procter & Gamble presently has an average rating of “Moderate Buy” and an average target price of $161.50.

Procter & Gamble Trading Down 0.4 %

PG opened at $149.38 on Friday. 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 stock has a market capitalization of $352.08 billion, a price-to-earnings ratio of 26.02, a P/E/G ratio of 4.17 and a beta of 0.41. The Procter & Gamble Company has a twelve month low of $122.18 and a twelve month high of $158.11. The company has a 50-day simple moving average of $150.50 and a 200 day simple moving average of $147.40.

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

Procter & Gamble Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Friday, April 21st were paid a dividend of $0.9407 per share. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Thursday, April 20th. This represents a $3.76 annualized dividend and a yield of 2.52%. Procter & Gamble’s payout ratio is presently 65.51%.

Insider Activity

In other news, 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 transaction, the insider now owns 13,001 shares of the company’s stock, valued at $2,032,446.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Procter & Gamble news, CFO Andre Schulten sold 25,244 shares of the stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $155.27, for a total transaction of $3,919,635.88. Following the completion of the sale, the chief financial officer now owns 27,118 shares of the company’s stock, valued at approximately $4,210,611.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Balaji Purushothaman sold 12,300 shares of the stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $156.33, for a total transaction of $1,922,859.00. Following the sale, the insider now directly owns 13,001 shares of the company’s stock, valued at approximately $2,032,446.33. The disclosure for this sale can be found here. Insiders sold 95,093 shares of company stock valued at $14,821,930 over the last quarter. 0.26% of the stock is owned by company insiders.

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.