Core Alternative Capital Buys 895 Shares of The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Jul 1st, 2023

Core Alternative Capital grew its stake in The Procter & Gamble Company (NYSE:PG – Free Report) by 0.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 115,651 shares of the company’s stock after acquiring an additional 895 shares during the quarter. Procter & Gamble accounts for 2.3% of Core Alternative Capital’s portfolio, making the stock its 15th biggest holding. Core Alternative Capital’s holdings in Procter & Gamble were worth $17,196,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Keystone Wealth Services LLC grew its holdings in Procter & Gamble by 2.7% during the 1st quarter. Keystone Wealth Services LLC now owns 2,562 shares of the company’s stock valued at $381,000 after buying an additional 67 shares in the last quarter. Gradient Capital Advisors LLC grew its holdings in Procter & Gamble by 4.0% during the 1st quarter. Gradient Capital Advisors LLC now owns 1,754 shares of the company’s stock valued at $261,000 after buying an additional 68 shares in the last quarter. Newbridge Financial Services Group Inc. grew its holdings in Procter & Gamble by 1.8% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,824 shares of the company’s stock valued at $580,000 after buying an additional 69 shares in the last quarter. Calton & Associates Inc. grew its holdings in Procter & Gamble by 2.0% during the 4th quarter. Calton & Associates Inc. now owns 3,536 shares of the company’s stock valued at $536,000 after buying an additional 71 shares in the last quarter. Finally, Bourgeon Capital Management LLC grew its holdings in Procter & Gamble by 39.9% during the 4th quarter. Bourgeon Capital Management LLC now owns 249 shares of the company’s stock valued at $38,000 after buying an additional 71 shares in the last quarter. 64.65% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Andre Schulten sold 25,244 shares of Procter & Gamble stock in a transaction on Monday, April 24th. The stock was sold at an average price of $155.27, for a total value of $3,919,635.88. Following the transaction, the chief financial officer now directly owns 27,118 shares in the company, valued at approximately $4,210,611.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Andre Schulten sold 25,244 shares of the business’s stock in a transaction on Monday, April 24th. The stock was sold at an average price of $155.27, for a total transaction of $3,919,635.88. Following the transaction, the chief financial officer now directly owns 27,118 shares in the company, valued at approximately $4,210,611.86. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Susan Street Whaley sold 4,852 shares of the business’s stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $155.47, for a total value of $754,340.44. Following the transaction, the insider now owns 7,977 shares in the company, valued at $1,240,184.19. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,093 shares of company stock worth $14,821,930. 0.26% of the stock is currently owned by company insiders.

Procter & Gamble Trading Up 1.6 %

PG opened at $151.74 on Friday. The stock’s fifty day moving average is $150.41 and its two-hundred day moving average is $147.39. The company has a market capitalization of $357.65 billion, a P/E ratio of 26.44, a PEG ratio of 4.15 and a beta of 0.41. The Procter & Gamble Company has a 52 week low of $122.18 and a 52 week high of $158.11. The company has a quick ratio of 0.39, a current ratio of 0.59 and a debt-to-equity ratio of 0.51.

Procter & Gamble (NYSE:PG – Free Report) last released its quarterly earnings data 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 company had revenue of $20.07 billion for the quarter, compared to the consensus estimate of $19.32 billion. During the same period last year, the business posted $1.33 EPS. Procter & Gamble’s quarterly revenue was up 3.5% on a year-over-year basis. Analysts forecast 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. Stockholders of record on Friday, April 21st were issued a $0.9407 dividend. The ex-dividend date of this dividend was Thursday, April 20th. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.91. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.48%. Procter & Gamble’s dividend payout ratio (DPR) is currently 65.51%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PG shares. JPMorgan Chase & Co. raised Procter & Gamble from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $150.00 to $155.00 in a research note on Friday, March 3rd. Royal Bank of Canada raised their price objective on Procter & Gamble from $160.00 to $165.00 and gave the company a “sector perform” rating in a research note on Monday, April 24th. Jefferies Financial Group raised their price objective on Procter & Gamble from $171.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, April 24th. Morgan Stanley raised their price objective on Procter & Gamble from $160.00 to $174.00 and gave the company an “overweight” rating in a research note on Monday, April 24th. Finally, Evercore ISI raised their price objective on Procter & Gamble from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Monday, April 24th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Procter & Gamble presently has an average rating of “Moderate Buy” and an average price target 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.