Gradient Capital Advisors LLC increased its stake in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 4.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,754 shares of the company’s stock after purchasing an additional 68 shares during the period. Gradient Capital Advisors LLC’s holdings in Procter & Gamble were worth $261,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. Keystone Wealth Services LLC boosted its holdings in Procter & Gamble by 2.7% during the first quarter. Keystone Wealth Services LLC now owns 2,562 shares of the company’s stock worth $381,000 after buying an additional 67 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in Procter & Gamble by 1.8% during 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. boosted its holdings in Procter & Gamble by 2.0% during 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 boosted its holdings in Procter & Gamble by 39.9% during 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 boosted its holdings in Procter & Gamble by 0.8% during 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. Hedge funds and other institutional investors own 64.65% of the company’s stock.
Analyst Upgrades and Downgrades
PG has been the topic of a number of research analyst reports. Morgan Stanley boosted their price objective on shares of Procter & Gamble from $160.00 to $174.00 and gave the stock an “overweight” rating in a report on Monday, April 24th. UBS Group lifted their target price on shares of Procter & Gamble from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, April 24th. Truist Financial cut shares of Procter & Gamble from a “buy” rating to a “hold” rating and cut their target price for the stock from $165.00 to $155.00 in a research report on Thursday, May 18th. StockNews.com started coverage on shares of Procter & Gamble in a research report on Thursday, May 18th. They set a “buy” rating for the company. Finally, Jefferies Financial Group lifted their target price on shares of Procter & Gamble from $171.00 to $175.00 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 given a buy rating to the company’s stock. According to data from MarketBeat, Procter & Gamble currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.50.
Procter & Gamble Price Performance
Procter & Gamble (NYSE:PG – Free Report) last released its earnings results on Friday, April 21st. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.05. Procter & Gamble had a net margin of 17.69% and a return on equity of 32.18%. The firm had revenue of $20.07 billion during the quarter, compared to the consensus estimate of $19.32 billion. During the same period in the previous year, the firm earned $1.33 earnings per share. Procter & Gamble’s revenue was up 3.5% compared to the same quarter last year. Sell-side analysts predict that The Procter & Gamble Company will post 5.86 earnings per share for the current year.
Procter & Gamble Increases Dividend
The firm also recently disclosed 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. This represents a $3.76 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Thursday, April 20th. Procter & Gamble’s payout ratio is currently 65.51%.
Insiders Place Their Bets
In other Procter & Gamble news, COO Shailesh Jejurikar sold 31,000 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $156.03, for a total transaction of $4,836,930.00. Following the completion of the sale, the chief operating officer now directly owns 10,014 shares in the company, valued at $1,562,484.42. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Andre Schulten sold 25,244 shares of the company’s stock in a transaction on 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 directly owns 27,118 shares in the company, valued at $4,210,611.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Shailesh Jejurikar sold 31,000 shares of the company’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $156.03, for a total transaction of $4,836,930.00. Following the completion of the transaction, the chief operating officer now owns 10,014 shares of the company’s stock, valued at $1,562,484.42. The disclosure for this sale can be found here. Insiders sold a total of 95,093 shares of company stock worth $14,821,930 over the last ninety days. 0.26% of the stock is owned by company insiders.
About Procter & Gamble
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.
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