Several other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Procter & Gamble in the 4th quarter worth approximately $3,956,117,000. Cerity Partners LLC raised its holdings in Procter & Gamble by 106.2% in the 4th quarter. Cerity Partners LLC now owns 6,134,455 shares of the company’s stock worth $898,943,000 after acquiring an additional 3,159,796 shares during the period. Wellington Management Group LLP lifted its position in Procter & Gamble by 9.4% during the 3rd quarter. Wellington Management Group LLP now owns 35,608,913 shares of the company’s stock worth $5,193,916,000 after acquiring an additional 3,047,557 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Procter & Gamble by 13,850.3% during the fourth quarter. International Assets Investment Management LLC now owns 2,747,379 shares of the company’s stock valued at $402,601,000 after acquiring an additional 2,727,685 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of Procter & Gamble by 235.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,231,032 shares of the company’s stock valued at $473,475,000 after purchasing an additional 2,268,805 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.
Procter & Gamble Stock Down 1.3 %
Shares of NYSE PG opened at $162.72 on Tuesday. The company has a quick ratio of 0.48, a current ratio of 0.69 and a debt-to-equity ratio of 0.49. The company has a market cap of $384.04 billion, a price-to-earnings ratio of 26.59, a price-to-earnings-growth ratio of 3.35 and a beta of 0.41. The Procter & Gamble Company has a 12-month low of $141.45 and a 12-month high of $169.41. The firm’s 50-day simple moving average is $165.60 and its 200 day simple moving average is $158.89.
Procter & Gamble (NYSE:PG – Get Free Report) last released its quarterly earnings results on Friday, April 19th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.42 by $0.10. Procter & Gamble had a net margin of 18.00% and a return on equity of 33.91%. The business had revenue of $20.20 billion for the quarter, compared to analysts’ expectations of $20.43 billion. During the same period in the prior year, the firm earned $1.37 earnings per share. Procter & Gamble’s revenue was up .6% compared to the same quarter last year. On average, research analysts expect that The Procter & Gamble Company will post 6.55 earnings per share for the current fiscal year.
Procter & Gamble Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th were paid a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend was Thursday, April 18th. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.94. Procter & Gamble’s dividend payout ratio is 65.85%.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on PG shares. Barclays upped their price target on Procter & Gamble from $168.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, April 23rd. Jefferies Financial Group boosted their price objective on shares of Procter & Gamble from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. BNP Paribas assumed coverage on Procter & Gamble in a report on Monday, June 24th. They set an “outperform” rating and a $187.00 price objective on the stock. Deutsche Bank Aktiengesellschaft cut their target price on Procter & Gamble from $172.00 to $171.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Finally, Truist Financial upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and lifted their price target for the stock from $160.00 to $175.00 in a research note on Monday, March 11th. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $170.72.
Get Our Latest Report on Procter & Gamble
Insider Activity at Procter & Gamble
In other Procter & Gamble news, CEO Sundar G. Raman sold 31,924 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $166.95, for a total transaction of $5,329,711.80. Following the completion of the sale, the chief executive officer now directly owns 19,042 shares of the company’s stock, valued at approximately $3,179,061.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO R. Alexandra Keith sold 855 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $158.50, for a total transaction of $135,517.50. Following the completion of the transaction, the chief executive officer now directly owns 4,004 shares in the company, valued at approximately $634,634. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar G. Raman sold 31,924 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $166.95, for a total transaction of $5,329,711.80. Following the completion of the sale, the chief executive officer now owns 19,042 shares in the company, valued at $3,179,061.90. The disclosure for this sale can be found here. Insiders have sold a total of 154,544 shares of company stock worth $25,413,051 over the last 90 days. Insiders own 0.17% of the company’s stock.
About Procter & Gamble
(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.
See Also
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