Allworth Financial LP cut its holdings in The Procter & Gamble Company (NYSE:PG – Free Report) by 0.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,252 shares of the company’s stock after selling 84 shares during the period. Allworth Financial LP’s holdings in Procter & Gamble were worth $12,974,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in PG. Axiom Financial Strategies LLC boosted its position in shares of Procter & Gamble by 7.0% in the 1st quarter. Axiom Financial Strategies LLC now owns 1,728 shares of the company’s stock worth $276,000 after buying an additional 113 shares in the last quarter. AMI Investment Management Inc. lifted its holdings in Procter & Gamble by 7.2% in the 1st quarter. AMI Investment Management Inc. now owns 3,461 shares of the company’s stock valued at $529,000 after purchasing an additional 233 shares in the last quarter. LSV Asset Management lifted its holdings in Procter & Gamble by 5.7% in the 1st quarter. LSV Asset Management now owns 18,600 shares of the company’s stock valued at $2,842,000 after purchasing an additional 1,000 shares in the last quarter. Ergoteles LLC purchased a new position in Procter & Gamble in the 1st quarter valued at about $3,073,000. Finally, Wsfs Capital Management LLC lifted its holdings in Procter & Gamble by 12.0% in the 1st quarter. Wsfs Capital Management LLC now owns 4,256 shares of the company’s stock valued at $650,000 after purchasing an additional 455 shares in the last quarter. 64.65% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms have issued reports on PG. Deutsche Bank Aktiengesellschaft upped their target price on shares of Procter & Gamble from $160.00 to $170.00 and gave the company a “buy” rating in a report on Monday, April 24th. Morgan Stanley upped their target price 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. Truist Financial lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating and reduced their target price for the company from $165.00 to $155.00 in a report on Thursday, May 18th. Raymond James upped their price objective on shares of Procter & Gamble from $170.00 to $175.00 and gave the company an “outperform” rating in a research note on Sunday, April 23rd. Finally, Evercore ISI upped their price objective on shares of Procter & Gamble from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Monday, April 24th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Procter & Gamble has an average rating of “Moderate Buy” and a consensus target price of $161.50.
Procter & Gamble Stock Up 1.6 %
Procter & Gamble (NYSE:PG – Free Report) last released its quarterly earnings results on Friday, April 21st. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.05. The firm had revenue of $20.07 billion during the quarter, compared to analysts’ expectations of $19.32 billion. Procter & Gamble had a return on equity of 32.18% and a net margin of 17.69%. Procter & Gamble’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.33 EPS. Sell-side analysts expect that The Procter & Gamble Company will post 5.86 earnings per share for the current year.
Procter & Gamble Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Friday, April 21st were issued a $0.9407 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 2.48%. 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%.
Insiders Place Their Bets
In other Procter & Gamble news, COO Shailesh Jejurikar sold 31,000 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $156.03, for a total value of $4,836,930.00. Following the completion of the transaction, the chief operating officer now owns 10,014 shares in the company, valued at approximately $1,562,484.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, COO Shailesh Jejurikar sold 31,000 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was 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 directly owns 10,014 shares in the company, valued at approximately $1,562,484.42. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 value of $1,922,859.00. Following the transaction, 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 sold a total of 95,093 shares of company stock worth $14,821,930 in the last 90 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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