Cornell Pochily Investment Advisors Inc. Sells 127 Shares of The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Jun 30th, 2023

Cornell Pochily Investment Advisors Inc. decreased its holdings in The Procter & Gamble Company (NYSE:PG – Free Report) by 0.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,694 shares of the company’s stock after selling 127 shares during the quarter. Procter & Gamble accounts for about 1.9% of Cornell Pochily Investment Advisors Inc.’s holdings, making the stock its 9th largest holding. Cornell Pochily Investment Advisors Inc.’s holdings in Procter & Gamble were worth $4,415,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its position 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 last quarter. State Street Corp raised its holdings in shares of Procter & Gamble by 0.8% during the third quarter. State Street Corp now owns 104,749,256 shares of the company’s stock valued at $13,224,594,000 after acquiring an additional 797,652 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Procter & Gamble by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 46,243,572 shares of the company’s stock valued at $6,997,559,000 after acquiring an additional 323,292 shares during the last quarter. Morgan Stanley lifted its position in shares of Procter & Gamble by 12.6% in the fourth quarter. Morgan Stanley now owns 44,320,700 shares of the company’s stock valued at $6,717,246,000 after acquiring an additional 4,959,527 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC increased its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 64.65% of the company’s stock.

Insider Activity

In other Procter & Gamble news, 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 in the company, valued at approximately $2,032,446.33. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Procter & Gamble news, CEO Ma. Fatima Francisco sold 8,000 shares of the company’s stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $156.84, for a total transaction of $1,254,720.00. Following the sale, the chief executive officer now owns 9,343 shares in the company, valued at approximately $1,465,356.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Balaji Purushothaman sold 12,300 shares of Procter & Gamble stock in a transaction dated Monday, April 24th. The shares were 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 approximately $2,032,446.33. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,093 shares of company stock valued at $14,821,930. 0.26% of the stock is currently owned by company insiders.

Procter & Gamble Stock Performance

Shares of PG stock opened at $149.38 on Friday. 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 quick ratio of 0.39 and a current ratio of 0.59. The firm’s 50 day moving average price is $150.50 and its 200-day moving average price is $147.40. The firm has a market cap of $352.08 billion, a P/E ratio of 26.02, a P/E/G ratio of 4.17 and a beta of 0.41.

Procter & Gamble (NYSE:PG – Free Report) last released its quarterly 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. Procter & Gamble had a return on equity of 32.18% and a net margin of 17.69%. The business had revenue of $20.07 billion during the quarter, compared to analyst estimates of $19.32 billion. During the same period last year, the business posted $1.33 earnings per share. The company’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, equities research analysts predict that The Procter & Gamble Company will post 5.86 EPS for the current year.

Procter & Gamble Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PG shares. Deutsche Bank Aktiengesellschaft raised their price objective on Procter & Gamble from $160.00 to $170.00 and gave the company a “buy” rating in a report on Monday, April 24th. Truist Financial cut shares of Procter & Gamble from a “buy” rating to a “hold” rating and dropped their price objective for the company from $165.00 to $155.00 in a research note on Thursday, May 18th. Evercore ISI raised their target price on shares of Procter & Gamble from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Monday, April 24th. Royal Bank of Canada upped their price target on Procter & Gamble from $160.00 to $165.00 and gave the company a “sector perform” rating in a research report on Monday, April 24th. Finally, Morgan Stanley lifted their price objective on Procter & Gamble from $160.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, April 24th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Procter & Gamble has a consensus rating of “Moderate Buy” and a consensus target price of $161.50.

About Procter & Gamble

(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.