Optas LLC Grows Stock Holdings in The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Jul 1st, 2023

Optas LLC raised its position in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 5.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,551 shares of the company’s stock after buying an additional 243 shares during the period. Optas LLC’s holdings in Procter & Gamble were worth $677,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Keystone Wealth Services LLC grew its holdings in shares of 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 during the last quarter. Gradient Capital Advisors LLC grew its holdings in shares of Procter & Gamble by 4.0% during the first quarter. Gradient Capital Advisors LLC now owns 1,754 shares of the company’s stock worth $261,000 after buying an additional 68 shares during the last quarter. Newbridge Financial Services Group Inc. grew its holdings in shares of 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 during the last quarter. Calton & Associates Inc. grew its holdings in shares of 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 during the last quarter. Finally, Bourgeon Capital Management LLC grew its holdings in shares of 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 during the last quarter. 64.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Procter & Gamble news, CAO Matthew W. Janzaruk sold 13,697 shares of the business’s stock in a transaction on 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 transaction, the chief accounting officer now directly owns 883 shares in the company, valued at approximately $137,536.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Procter & Gamble news, CAO Matthew W. Janzaruk sold 13,697 shares of the business’s stock in a transaction on 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 transaction, the chief accounting officer now directly owns 883 shares in the company, valued at approximately $137,536.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andre Schulten sold 25,244 shares of the business’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 owns 27,118 shares of the company’s stock, valued at $4,210,611.86. The disclosure for this sale can be found here. Insiders sold 95,093 shares of company stock worth $14,821,930 in the last ninety days. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PG shares. Royal Bank of Canada raised their price target on Procter & Gamble from $160.00 to $165.00 and gave the stock a “sector perform” rating in a report on Monday, April 24th. Truist Financial lowered Procter & Gamble from a “buy” rating to a “hold” rating and lowered their price objective for the company from $165.00 to $155.00 in a report on Thursday, May 18th. Barclays lifted their price objective on Procter & Gamble from $160.00 to $167.00 in a report on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft lifted 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. Finally, UBS Group lifted their price objective on Procter & Gamble from $170.00 to $180.00 and gave the company a “buy” 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $161.50.

Procter & Gamble Trading Up 1.6 %

Shares of Procter & Gamble stock opened at $151.74 on Friday. 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 Procter & Gamble Company has a 1 year low of $122.18 and a 1 year high of $158.11. The company has a market capitalization of $357.65 billion, a P/E ratio of 26.44, a P/E/G ratio of 4.15 and a beta of 0.41. The business has a 50 day moving average price of $150.41 and a 200 day moving average price of $147.39.

Procter & Gamble (NYSE:PG – Free Report) last issued its quarterly earnings data on Friday, April 21st. The company reported $1.37 earnings per share (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 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 posted $1.33 EPS. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. Sell-side analysts anticipate that The Procter & Gamble Company will post 5.86 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Friday, April 21st were given 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 dividend yield of 2.48%. The ex-dividend date was Thursday, April 20th. Procter & Gamble’s payout ratio is currently 65.51%.

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.