WESPAC Advisors LLC Grows Position in The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Jul 16th, 2023

WESPAC Advisors LLC raised its holdings in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 1.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,267 shares of the company’s stock after purchasing an additional 95 shares during the quarter. WESPAC Advisors LLC’s holdings in Procter & Gamble were worth $783,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of PG. Moneta Group Investment Advisors LLC increased its position in shares of Procter & Gamble by 96,526.4% during 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. Norges Bank bought a new stake in shares of Procter & Gamble during the fourth quarter valued at about $3,752,321,000. Morgan Stanley increased its position in shares of 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. Alliancebernstein L.P. increased its position in shares of Procter & Gamble by 43.9% in the fourth quarter. Alliancebernstein L.P. now owns 9,462,510 shares of the company’s stock worth $1,434,138,000 after purchasing an additional 2,888,007 shares during the last quarter. Finally, CI Private Wealth LLC bought a new position in shares of Procter & Gamble in the fourth quarter worth approximately $292,647,000. 64.65% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Procter & Gamble 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 completion of the transaction, the insider now owns 13,001 shares in the company, valued at $2,032,446.33. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Balaji Purushothaman sold 12,300 shares of the firm’s stock in a transaction on 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 directly owns 13,001 shares in the company, valued at $2,032,446.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Shailesh Jejurikar sold 31,000 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer now owns 10,014 shares of the company’s stock, valued at $1,562,484.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,093 shares of company stock worth $14,821,930. 0.26% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PG shares. Raymond James upped their price objective on shares of Procter & Gamble from $170.00 to $175.00 and gave the stock an “outperform” rating in a research report on Sunday, April 23rd. UBS Group upped their price objective on shares of Procter & Gamble from $170.00 to $180.00 and gave the stock a “buy” rating in a research report on Monday, April 24th. Morgan Stanley upped their price objective on shares of Procter & Gamble from $160.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, April 24th. Truist Financial cut shares of Procter & Gamble from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $165.00 to $155.00 in a research report on Thursday, May 18th. Finally, Jefferies Financial Group upped their target price on Procter & Gamble from $171.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, April 24th. 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 has a consensus rating of “Moderate Buy” and a consensus target price of $161.50.

Procter & Gamble Stock Performance

NYSE:PG opened at $150.05 on Friday. The firm has a market cap of $353.66 billion, a PE ratio of 26.14, a price-to-earnings-growth ratio of 3.83 and a beta of 0.42. The Procter & Gamble Company has a fifty-two week low of $122.18 and a fifty-two week high of $158.11. 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 business has a 50 day moving average price of $149.25 and a 200-day moving average price of $147.25.

Procter & Gamble (NYSE:PG – Get Free Report) last announced its quarterly earnings results on Friday, April 21st. The company reported $1.37 EPS for the quarter, topping 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 company had revenue of $20.07 billion during the quarter, compared to analyst estimates of $19.32 billion. During the same quarter last year, the firm posted $1.33 earnings per share. The firm’s revenue was up 3.5% on a year-over-year basis. Equities research analysts predict that The Procter & Gamble Company will post 5.86 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 21st will be paid a $0.9407 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend is Thursday, July 20th. Procter & Gamble’s payout ratio is 65.51%.

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.