Rocky Mountain Advisers LLC trimmed its stake in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 4.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,175 shares of the company’s stock after selling 196 shares during the quarter. Procter & Gamble makes up 0.3% of Rocky Mountain Advisers LLC’s holdings, making the stock its 27th biggest holding. Rocky Mountain Advisers LLC’s holdings in Procter & Gamble were worth $621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently made changes to their positions in PG. Axiom Financial Strategies LLC increased its holdings in Procter & Gamble by 7.0% in the first quarter. Axiom Financial Strategies LLC now owns 1,728 shares of the company’s stock worth $276,000 after purchasing an additional 113 shares in the last quarter. AMI Investment Management Inc. increased its holdings in Procter & Gamble by 7.2% in the first quarter. AMI Investment Management Inc. now owns 3,461 shares of the company’s stock worth $529,000 after purchasing an additional 233 shares in the last quarter. LSV Asset Management increased its holdings in Procter & Gamble by 5.7% in the first quarter. LSV Asset Management now owns 18,600 shares of the company’s stock worth $2,842,000 after purchasing an additional 1,000 shares in the last quarter. Ergoteles LLC bought a new stake in Procter & Gamble in the first quarter worth approximately $3,073,000. Finally, Wsfs Capital Management LLC increased its holdings in Procter & Gamble by 12.0% in the first quarter. Wsfs Capital Management LLC now owns 4,256 shares of the company’s stock worth $650,000 after purchasing an additional 455 shares in the last quarter. 64.65% of the stock is currently owned by institutional investors.
Procter & Gamble Stock Up 0.5 %
PG stock opened at $152.46 on Tuesday. The stock’s fifty day simple moving average is $150.34 and its two-hundred day simple moving average is $147.33. The company has a current ratio of 0.59, a quick ratio of 0.39 and a debt-to-equity ratio of 0.51. The Procter & Gamble Company has a 1-year low of $122.18 and a 1-year high of $158.11. The stock has a market cap of $359.34 billion, a P/E ratio of 26.56, a P/E/G ratio of 4.22 and a beta of 0.42.
Procter & Gamble Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Friday, April 21st were given a $0.9407 dividend. The ex-dividend date was Thursday, April 20th. This represents a $3.76 annualized dividend and a dividend yield of 2.47%. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.91. Procter & Gamble’s payout ratio is 65.51%.
Insider Buying and Selling
In other Procter & Gamble news, insider Balaji Purushothaman sold 12,300 shares of Procter & Gamble stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $156.33, for a total transaction of $1,922,859.00. Following the completion of the transaction, the insider now owns 13,001 shares of the company’s stock, valued at approximately $2,032,446.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Balaji Purushothaman sold 12,300 shares of the stock in a transaction 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 sale, the insider now owns 13,001 shares in the company, valued at $2,032,446.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Andre Schulten sold 25,244 shares of the 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 completion of the sale, the chief financial officer now owns 27,118 shares in the company, valued at approximately $4,210,611.86. 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.
Analysts Set New Price Targets
A number of equities research analysts have commented on the company. StockNews.com assumed coverage on Procter & Gamble in a research note on Thursday, May 18th. They issued a “buy” rating for the company. 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. Truist Financial cut Procter & Gamble from a “buy” rating to a “hold” rating and reduced their price objective for the company from $165.00 to $155.00 in a research note on Thursday, May 18th. 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 lifted their target price on Procter & Gamble from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Monday, April 24th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Procter & Gamble presently has a consensus rating of “Moderate Buy” and an average price target of $161.50.
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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