Portside Wealth Group LLC Acquires 343 Shares of The Procter & Gamble Company (NYSE:PG)

Portside Wealth Group LLC lifted its holdings in The Procter & Gamble Company (NYSE:PG) by 2.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,220 shares of the company’s stock after acquiring an additional 343 shares during the period. Portside Wealth Group LLC’s holdings in Procter & Gamble were worth $2,049,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Procter & Gamble during the 4th quarter valued at approximately $5,244,463,000. GAMMA Investing LLC increased its position in Procter & Gamble by 20,758.5% during the first quarter. GAMMA Investing LLC now owns 7,951,456 shares of the company’s stock valued at $1,355,087,000 after acquiring an additional 7,913,335 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Procter & Gamble in the fourth quarter valued at $1,010,685,000. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Procter & Gamble by 1,195.1% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company’s stock worth $580,596,000 after acquiring an additional 2,973,757 shares during the last quarter. Finally, Capital Research Global Investors boosted its stake in shares of Procter & Gamble by 62.5% during the 4th quarter. Capital Research Global Investors now owns 7,398,120 shares of the company’s stock worth $1,240,294,000 after purchasing an additional 2,846,560 shares during the period. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Analyst Upgrades and Downgrades

PG has been the topic of a number of recent analyst reports. UBS Group reissued a “buy” rating on shares of Procter & Gamble in a research report on Monday, February 10th. JPMorgan Chase & Co. reduced their price target on Procter & Gamble from $181.00 to $172.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Bank of America decreased their price target on Procter & Gamble from $190.00 to $180.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Evercore ISI upped their price objective on Procter & Gamble from $170.00 to $190.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Citigroup reduced their target price on Procter & Gamble from $200.00 to $181.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $178.86.

Insider Transactions at Procter & Gamble

In related news, insider Moses Victor Javier Aguilar sold 10,520 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $158.67, for a total value of $1,669,208.40. Following the sale, the insider now owns 25,182 shares in the company, valued at $3,995,627.94. This represents a 29.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jennifer L. Davis sold 1,000 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total transaction of $161,380.00. Following the completion of the transaction, the chief executive officer now owns 51,965 shares in the company, valued at approximately $8,386,111.70. This trade represents a 1.89% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Procter & Gamble Price Performance

PG opened at $166.92 on Wednesday. The firm has a market capitalization of $391.35 billion, a PE ratio of 26.58, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55. The business’s 50-day moving average is $164.33 and its two-hundred day moving average is $167.38. The Procter & Gamble Company has a 1 year low of $156.58 and a 1 year high of $180.43.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.01. The business had revenue of $19.78 billion for the quarter, compared to analyst estimates of $20.42 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The company’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.52 earnings per share. Research analysts anticipate that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were issued a $1.0568 dividend. The ex-dividend date of this dividend was Monday, April 21st. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.53%. This is a boost from Procter & Gamble’s previous quarterly dividend of $1.01. Procter & Gamble’s dividend payout ratio (DPR) is currently 66.98%.

Procter & Gamble Company Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.