Archer Investment Corp Decreases Stake in Procter & Gamble Company (The) (NYSE:PG)

Archer Investment Corp decreased its position in Procter & Gamble Company (The) (NYSE:PG) by 34.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 5,838 shares of the company’s stock after selling 3,045 shares during the period. Archer Investment Corp’s holdings in Procter & Gamble were worth $995,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PG. Navigoe LLC purchased a new stake in shares of Procter & Gamble during the 4th quarter worth approximately $31,000. Capital A Wealth Management LLC purchased a new stake in shares of Procter & Gamble during the 4th quarter worth approximately $31,000. Hoey Investments Inc. increased its stake in shares of Procter & Gamble by 321.7% during the 4th quarter. Hoey Investments Inc. now owns 194 shares of the company’s stock worth $33,000 after purchasing an additional 148 shares during the last quarter. 10Elms LLP purchased a new stake in shares of Procter & Gamble during the 4th quarter worth approximately $34,000. Finally, Mizuho Securities Co. Ltd. increased its stake in shares of Procter & Gamble by 566.7% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $34,000 after purchasing an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Analyst Upgrades and Downgrades

PG has been the subject of a number of recent research reports. Barclays lifted their price objective on shares of Procter & Gamble from $160.00 to $161.00 and gave the company an “equal weight” rating in a research note on Tuesday. JPMorgan Chase & Co. reduced their price objective on shares of Procter & Gamble from $181.00 to $172.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Redburn Partners set a $161.00 price objective on shares of Procter & Gamble in a research note on Thursday, May 1st. Royal Bank Of Canada upgraded shares of Procter & Gamble from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $164.00 to $177.00 in a research note on Friday, April 25th. Finally, Piper Sandler lifted their price objective on shares of Procter & Gamble from $160.00 to $164.00 and gave the company a “neutral” rating in a research note on Monday, May 5th. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $176.84.

Insiders Place Their Bets

In related news, CEO Jennifer L. Davis sold 1,000 shares of Procter & Gamble stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total value of $161,380.00. Following the transaction, the chief executive officer owned 51,965 shares in the company, valued at $8,386,111.70. This trade represents a 1.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of Procter & Gamble stock in a transaction 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 completion of the transaction, the insider owned 25,182 shares in the company, valued at approximately $3,995,627.94. The trade was a 29.47% 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

Shares of NYSE PG traded up $0.89 during mid-day trading on Friday, reaching $155.45. 1,350,425 shares of the company were exchanged, compared to its average volume of 7,622,829. Procter & Gamble Company has a 52 week low of $151.90 and a 52 week high of $180.43. The company has a quick ratio of 0.50, a current ratio of 0.71 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $364.45 billion, a PE ratio of 24.65, a PEG ratio of 4.38 and a beta of 0.40. The company’s 50 day moving average price is $161.37 and its 200 day moving average price is $164.53.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.01. Procter & Gamble had a net margin of 18.46% and a return on equity of 32.67%. The company had revenue of $19.78 billion during the quarter, compared to the consensus estimate of $20.42 billion. During the same period in the previous year, the firm posted $1.52 EPS. The firm’s revenue was down 2.1% compared to the same quarter last year. Sell-side analysts forecast that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be issued a dividend of $1.0568 per share. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Friday, July 18th. Procter & Gamble’s dividend payout ratio is currently 67.14%.

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.