The Procter & Gamble Company (NYSE:PG) Position Lifted by Portside Wealth Group LLC

Portside Wealth Group LLC raised its stake in shares of The Procter & Gamble Company (NYSE:PG) by 12.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,698 shares of the company’s stock after acquiring an additional 1,478 shares during the quarter. Portside Wealth Group LLC’s holdings in Procter & Gamble were worth $2,334,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PG. NewSquare Capital LLC raised its holdings in shares of Procter & Gamble by 933.3% during the fourth quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock worth $26,000 after purchasing an additional 140 shares during the period. Navigoe LLC acquired a new stake in shares of Procter & Gamble during the fourth quarter worth $31,000. Capital A Wealth Management LLC acquired a new stake in shares of Procter & Gamble during the fourth quarter worth $31,000. Hoey Investments Inc. raised its holdings in shares of Procter & Gamble by 321.7% during the fourth quarter. Hoey Investments Inc. now owns 194 shares of the company’s stock worth $33,000 after purchasing an additional 148 shares during the period. Finally, LFA Lugano Financial Advisors SA acquired a new stake in shares of Procter & Gamble during the fourth quarter worth $34,000. 65.77% of the stock is currently owned by institutional investors.

Procter & Gamble Stock Performance

Shares of PG opened at $164.01 on Monday. The firm’s 50 day moving average is $164.01 and its 200-day moving average is $167.21. The stock has a market capitalization of $384.53 billion, a P/E ratio of 26.12, a P/E/G ratio of 3.76 and a beta of 0.43. 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 Procter & Gamble Company has a 12-month low of $156.58 and a 12-month high of $180.43.

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

Procter & Gamble Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, April 21st were given a $1.0568 dividend. This is an increase from Procter & Gamble’s previous quarterly dividend of $1.01. This represents a $4.23 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Monday, April 21st. Procter & Gamble’s dividend payout ratio (DPR) is 66.98%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PG shares. Raymond James dropped their target price on shares of Procter & Gamble from $190.00 to $185.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Citigroup dropped their price objective on shares of Procter & Gamble from $200.00 to $181.00 and set a “buy” rating on the stock in a report on Friday, April 25th. UBS Group reaffirmed a “buy” rating on shares of Procter & Gamble in a report on Monday, February 10th. Piper Sandler increased their price objective on shares of Procter & Gamble from $160.00 to $164.00 and gave the stock a “neutral” rating in a report on Monday, May 5th. Finally, Barclays reaffirmed an “equal weight” rating on shares of Procter & Gamble in a report on Thursday, March 27th. Eight research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Procter & Gamble has a consensus rating of “Moderate Buy” and a consensus price target of $178.86.

Insider Transactions at Procter & Gamble

In related news, CEO Jennifer L. Davis sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total transaction of $161,380.00. Following the completion of the sale, the chief executive officer now directly owns 51,965 shares in the company, valued at approximately $8,386,111.70. This trade represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the firm’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 transaction of $1,669,208.40. Following the sale, the insider now owns 25,182 shares of the company’s stock, valued at approximately $3,995,627.94. This represents a 29.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Procter & Gamble 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.