InTrack Investment Management Inc Lowers Stake in The Procter & Gamble Company (NYSE:PG)

InTrack Investment Management Inc decreased its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 24.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,723 shares of the company’s stock after selling 3,097 shares during the period. Procter & Gamble accounts for 1.5% of InTrack Investment Management Inc’s portfolio, making the stock its 19th largest position. InTrack Investment Management Inc’s holdings in Procter & Gamble were worth $1,657,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. My Legacy Advisors LLC grew its position in Procter & Gamble by 1.9% during the 1st quarter. My Legacy Advisors LLC now owns 4,792 shares of the company’s stock valued at $817,000 after purchasing an additional 88 shares during the last quarter. Curbstone Financial Management Corp lifted its stake in shares of Procter & Gamble by 5.7% in the first quarter. Curbstone Financial Management Corp now owns 23,038 shares of the company’s stock worth $3,926,000 after buying an additional 1,250 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its holdings in shares of Procter & Gamble by 1.9% during the first quarter. Redhawk Wealth Advisors Inc. now owns 13,228 shares of the company’s stock valued at $2,254,000 after buying an additional 252 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Procter & Gamble by 140.4% during the first quarter. Assenagon Asset Management S.A. now owns 2,663,246 shares of the company’s stock valued at $453,870,000 after acquiring an additional 1,555,504 shares in the last quarter. Finally, MV Capital Management Inc. raised its holdings in Procter & Gamble by 5.2% in the 1st quarter. MV Capital Management Inc. now owns 26,517 shares of the company’s stock worth $4,519,000 after acquiring an additional 1,317 shares during the last quarter. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Procter & Gamble Trading Up 0.1%

NYSE:PG opened at $162.68 on Wednesday. The Procter & Gamble Company has a one year low of $156.58 and a one year high of $180.43. The business has a fifty day moving average price of $163.67 and a 200-day moving average price of $167.08. The firm has a market capitalization of $381.40 billion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth 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.

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

Procter & Gamble Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were paid a dividend of $1.0568 per share. This is a boost from Procter & Gamble’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend was Monday, April 21st. This represents a $4.23 dividend on an annualized basis and a yield of 2.60%. Procter & Gamble’s dividend payout ratio (DPR) is presently 66.98%.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, insider Moses Victor Javier Aguilar sold 10,520 shares of the stock in a transaction 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 completion of the sale, the insider now owns 25,182 shares in the company, valued at approximately $3,995,627.94. This represents a 29.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jennifer L. Davis sold 1,000 shares of the business’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total value of $161,380.00. Following the completion of the transaction, the chief executive officer now owns 51,965 shares in the company, valued at $8,386,111.70. The trade was a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PG. Redburn Atlantic downgraded Procter & Gamble from a “buy” rating to a “neutral” rating and set a $161.00 target price on the stock. in a research note on Thursday, May 1st. Redburn Partners set a $161.00 price objective on Procter & Gamble in a report on Thursday, May 1st. Royal Bank of Canada raised Procter & Gamble from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $164.00 to $177.00 in a research report on Friday, April 25th. Truist Financial dropped their price target on shares of Procter & Gamble from $185.00 to $180.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Finally, Piper Sandler increased their price objective on shares of Procter & Gamble from $160.00 to $164.00 and gave the company a “neutral” rating in a research report on Monday, May 5th. Eight analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $178.86.

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.