Moneywise Inc. Buys New Shares in The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Jul 9th, 2023

Moneywise Inc. bought a new stake in The Procter & Gamble Company (NYSE:PG – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,819 shares of the company’s stock, valued at approximately $270,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. EWG Elevate Inc. acquired a new stake in Procter & Gamble during the 4th quarter valued at $26,000. Silicon Valley Capital Partners acquired a new stake in Procter & Gamble during the 4th quarter valued at $28,000. Legend Financial Advisors Inc. acquired a new stake in Procter & Gamble during the 3rd quarter valued at $30,000. Luken Investment Analytics LLC acquired a new stake in Procter & Gamble during the 4th quarter valued at $37,000. Finally, Kepos Capital LP acquired a new stake in shares of Procter & Gamble during the fourth quarter worth $38,000. 64.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PG has been the subject of a number of research reports. Royal Bank of Canada lifted their target price on Procter & Gamble from $160.00 to $165.00 and gave the stock a “sector perform” rating in a report on Monday, April 24th. Deutsche Bank Aktiengesellschaft lifted their target price on Procter & Gamble from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, April 24th. Raymond James lifted their target price on Procter & Gamble from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Sunday, April 23rd. StockNews.com started coverage on Procter & Gamble in a report on Thursday, May 18th. They set a “buy” rating for the company. Finally, Jefferies Financial Group boosted their price target on Procter & Gamble from $171.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, April 24th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $161.50.

Procter & Gamble Stock Performance

Procter & Gamble stock opened at $148.80 on Friday. The Procter & Gamble Company has a 12-month low of $122.18 and a 12-month 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. The business’s 50-day moving average price is $149.97 and its two-hundred day moving average price is $147.38. The stock has a market cap of $350.72 billion, a PE ratio of 25.92, a P/E/G ratio of 3.83 and a beta of 0.42.

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, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $19.32 billion. During the same quarter in the previous year, the business posted $1.33 earnings per share. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, analysts expect 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 declared a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Friday, April 21st were issued a dividend of $0.9407 per share. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.91. This represents a $3.76 annualized dividend and a dividend yield of 2.53%. The ex-dividend date was Thursday, April 20th. Procter & Gamble’s payout ratio is 65.51%.

Insider Transactions at Procter & Gamble

In other news, insider Susan Street Whaley sold 4,852 shares of the business’s stock in a transaction dated Wednesday, April 26th. The stock was sold at an average price of $155.47, for a total transaction of $754,340.44. Following the sale, the insider now directly owns 7,977 shares in the company, valued at $1,240,184.19. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Procter & Gamble news, CEO Ma. Fatima Francisco sold 8,000 shares of the stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $156.84, for a total transaction of $1,254,720.00. Following the completion of the sale, the chief executive officer now owns 9,343 shares of the company’s stock, valued at approximately $1,465,356.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Susan Street Whaley sold 4,852 shares of the stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $155.47, for a total transaction of $754,340.44. Following 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. Over the last three months, insiders have sold 95,093 shares of company stock worth $14,821,930. Insiders own 0.26% of the company’s stock.

Procter & Gamble Company 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.