CarsonAllaria Wealth Management Ltd. Sells 74 Shares of The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Jul 14th, 2023

CarsonAllaria Wealth Management Ltd. reduced its holdings in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 3.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,376 shares of the company’s stock after selling 74 shares during the quarter. CarsonAllaria Wealth Management Ltd.’s holdings in Procter & Gamble were worth $353,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. EWG Elevate Inc. acquired a new position in shares of Procter & Gamble during the fourth quarter valued at about $26,000. Silicon Valley Capital Partners purchased a new position in Procter & Gamble during the fourth quarter worth about $28,000. IAG Wealth Partners LLC boosted its holdings in Procter & Gamble by 58.8% during the first quarter. IAG Wealth Partners LLC now owns 243 shares of the company’s stock worth $36,000 after purchasing an additional 90 shares during the last quarter. Luken Investment Analytics LLC purchased a new position in Procter & Gamble during the fourth quarter worth about $37,000. Finally, Kepos Capital LP purchased a new position in Procter & Gamble during the fourth quarter worth about $38,000. 64.65% of the stock is currently owned by institutional investors and hedge funds.

Procter & Gamble Stock Performance

NYSE PG opened at $148.95 on Friday. The company’s 50 day moving average is $149.37 and its 200-day moving average is $147.31. 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 firm has a market cap of $351.07 billion, a P/E ratio of 25.95, a price-to-earnings-growth ratio of 3.83 and a beta of 0.42.

Procter & Gamble (NYSE:PG – Get Free Report) last posted its quarterly earnings results on Friday, April 21st. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.05. The company had revenue of $20.07 billion for the quarter, compared to analyst estimates of $19.32 billion. Procter & Gamble had a net margin of 17.69% and a return on equity of 32.18%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.33 earnings per share. Sell-side analysts predict that The Procter & Gamble Company will post 5.86 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 21st will be issued a dividend of $0.9407 per share. This represents a $3.76 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Thursday, July 20th. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.51%.

Insider Buying and Selling

In related 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 transaction of $4,836,930.00. Following the sale, the chief operating officer now owns 10,014 shares of the company’s stock, valued at approximately $1,562,484.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Procter & Gamble news, insider Balaji Purushothaman sold 12,300 shares of the business’s stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $156.33, for a total value 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 filing with the SEC, which is available through this link. Also, COO Shailesh Jejurikar sold 31,000 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The stock was 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 disclosure for this sale can be found here. In the last 90 days, insiders have 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

Several research firms recently weighed in on PG. Morgan Stanley boosted their price target 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. Raymond James boosted their price target on shares of Procter & Gamble from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Sunday, April 23rd. UBS Group boosted their price target on shares of Procter & Gamble from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, April 24th. Jefferies Financial Group boosted their target price on shares of Procter & Gamble from $171.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, April 24th. Finally, StockNews.com assumed coverage on shares of Procter & Gamble in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Procter & Gamble has an average rating of “Moderate Buy” and a consensus price target of $161.50.

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.