Brookstone Capital Management increased its holdings in The Procter & Gamble Company (NYSE:PG – Free Report) by 5.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,401 shares of the company’s stock after buying an additional 3,049 shares during the quarter. Brookstone Capital Management’s holdings in Procter & Gamble were worth $8,217,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in PG. Vanguard Group Inc. increased its stake 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 during the period. State Street Corp boosted its stake in Procter & Gamble by 0.8% during the 3rd quarter. State Street Corp now owns 104,749,256 shares of the company’s stock valued at $13,224,594,000 after purchasing an additional 797,652 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Procter & Gamble by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 46,243,572 shares of the company’s stock valued at $6,997,559,000 after purchasing an additional 323,292 shares during the period. Morgan Stanley raised its stake in shares of Procter & Gamble by 12.6% in the 4th quarter. Morgan Stanley now owns 44,320,700 shares of the company’s stock worth $6,717,246,000 after buying an additional 4,959,527 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC lifted its holdings in shares of 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 valued at $5,840,449,000 after buying an additional 38,495,676 shares during the period. 64.65% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts recently issued reports on PG shares. Truist Financial lowered Procter & Gamble from a “buy” rating to a “hold” rating and lowered their target price for the stock from $165.00 to $155.00 in a report on Thursday, May 18th. Morgan Stanley boosted their target price 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. Jefferies Financial Group raised their target price on shares of Procter & Gamble from $171.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, April 24th. StockNews.com began coverage on Procter & Gamble in a report on Thursday, May 18th. They issued a “buy” rating on the stock. Finally, UBS Group raised their price objective on Procter & Gamble from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, April 24th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Procter & Gamble has an average rating of “Moderate Buy” and a consensus target price 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, 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 company had revenue of $20.07 billion during the quarter, compared to the consensus estimate of $19.32 billion. During the same quarter in the prior year, the firm earned $1.33 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. Equities research analysts predict that The Procter & Gamble Company will post 5.86 earnings per share for the current fiscal year.
Procter & Gamble Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Friday, April 21st were given a $0.9407 dividend. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.91. This represents a $3.76 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend was Thursday, April 20th. Procter & Gamble’s dividend payout ratio is presently 65.51%.
Insider Activity
In other news, CFO Andre Schulten sold 25,244 shares of the stock in a transaction on Monday, April 24th. The shares were 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 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 is accessible through the SEC website. In related news, CFO Andre Schulten sold 25,244 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $4,210,611.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Balaji Purushothaman sold 12,300 shares of the business’s stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $156.33, for a total value of $1,922,859.00. Following the completion of the sale, 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 three months. 0.26% of the stock is owned by 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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