Altus Wealth Management LLC Has $4.51 Million Stock Position in The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Jul 3rd, 2023

Altus Wealth Management LLC raised its holdings in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 8.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,345 shares of the company’s stock after purchasing an additional 2,370 shares during the period. Procter & Gamble accounts for 3.7% of Altus Wealth Management LLC’s portfolio, making the stock its 7th largest position. Altus Wealth Management LLC’s holdings in Procter & Gamble were worth $4,512,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PG. Vanguard Group Inc. increased its position in shares of Procter & Gamble by 1.0% during the third quarter. Vanguard Group Inc. now owns 224,570,227 shares of the company’s stock valued at $28,351,991,000 after acquiring an additional 2,197,165 shares in the last quarter. State Street Corp increased its position 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 in the last quarter. Geode Capital Management LLC boosted its holdings in Procter & Gamble by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 46,243,572 shares of the company’s stock worth $6,997,559,000 after purchasing an additional 323,292 shares during the last quarter. Morgan Stanley boosted its holdings in Procter & Gamble by 12.6% in the fourth quarter. Morgan Stanley now owns 44,320,700 shares of the company’s stock worth $6,717,246,000 after purchasing an additional 4,959,527 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC boosted its holdings in Procter & Gamble by 96,526.4% in 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 during the last quarter. Institutional investors own 64.65% of the company’s stock.

Procter & Gamble Stock Performance

Shares of NYSE PG opened at $151.74 on Monday. 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 company has a market cap of $357.65 billion, a P/E ratio of 26.44, a P/E/G ratio of 4.22 and a beta of 0.42. The firm’s fifty day moving average is $150.41 and its two-hundred day moving average is $147.32. The Procter & Gamble Company has a 52-week low of $122.18 and a 52-week high of $158.11.

Procter & Gamble (NYSE:PG – Free Report) last posted its 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. 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 for 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 business’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, analysts anticipate that The Procter & Gamble Company will post 5.86 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 15th. Investors of record on Friday, April 21st were paid a dividend of $0.9407 per share. The ex-dividend date of this dividend was Thursday, April 20th. This is a boost 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 payout ratio is currently 65.51%.

Analysts Set New Price Targets

Several brokerages recently issued reports on PG. Barclays raised their target price on shares of Procter & Gamble from $160.00 to $167.00 in a report on Wednesday, April 26th. StockNews.com assumed coverage on shares of Procter & Gamble in a report on Thursday, May 18th. They issued a “buy” rating on the stock. Evercore ISI lifted their price target 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 lifted their price target on shares of Procter & Gamble from $160.00 to $165.00 and gave the stock a “sector perform” rating in a research note on Monday, April 24th. Finally, Raymond James lifted their price target on shares of Procter & Gamble from $170.00 to $175.00 and gave the stock an “outperform” rating in a research note on Sunday, April 23rd. 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 a consensus target price of $161.50.

Insider Buying and Selling

In related news, COO Shailesh Jejurikar sold 31,000 shares of Procter & Gamble stock in a transaction dated 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 directly owns 10,014 shares of the company’s stock, valued at approximately $1,562,484.42. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, COO Shailesh Jejurikar sold 31,000 shares of the company’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 value of $4,836,930.00. Following the completion of the sale, the chief operating officer now owns 10,014 shares of the company’s stock, valued at approximately $1,562,484.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Susan Street Whaley sold 4,852 shares of the company’s stock in a transaction that occurred on Wednesday, April 26th. The stock was sold at an average price of $155.47, for a total transaction of $754,340.44. Following the completion of the sale, the insider now directly owns 7,977 shares of the company’s stock, valued at approximately $1,240,184.19. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,093 shares of company stock valued at $14,821,930. Company insiders own 0.26% of the company’s stock.

Procter & Gamble Profile

(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.