Independent Wealth Network Inc. Acquires 1,042 Shares of Procter & Gamble Company (The) (NYSE:PG)

Independent Wealth Network Inc. lifted its holdings in shares of Procter & Gamble Company (The) (NYSE:PG) by 56.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,874 shares of the company’s stock after purchasing an additional 1,042 shares during the period. Independent Wealth Network Inc.’s holdings in Procter & Gamble were worth $490,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Navigoe LLC purchased a new stake in Procter & Gamble during the 4th quarter valued at $31,000. Capital A Wealth Management LLC purchased a new stake in shares of Procter & Gamble in the 4th quarter worth about $31,000. Hoey Investments Inc. lifted its position in shares of Procter & Gamble by 321.7% in 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 period. 10Elms LLP purchased a new stake in shares of Procter & Gamble in the 4th quarter worth about $34,000. Finally, Mizuho Securities Co. Ltd. lifted its position in shares of Procter & Gamble by 566.7% in 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 period. Institutional investors own 65.77% of the company’s stock.

Insider Buying and Selling at Procter & Gamble

In related news, CEO Jennifer L. Davis sold 1,000 shares of the business’s 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 sale, the chief executive officer owned 51,965 shares in the company, valued at approximately $8,386,111.70. The trade was a 1.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the business’s 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 sale, the insider owned 25,182 shares in the company, valued at $3,995,627.94. This represents a 29.47% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PG has been the subject of several research analyst reports. Morgan Stanley set a $180.00 target price on shares of Procter & Gamble and gave the stock an “overweight” rating in a research report on Friday, April 25th. Barclays raised their target price on shares of Procter & Gamble from $160.00 to $161.00 and gave the stock an “equal weight” rating in a research report on Tuesday. JPMorgan Chase & Co. dropped their target price on shares of Procter & Gamble from $181.00 to $172.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. Truist Financial lowered their price target on shares of Procter & Gamble from $185.00 to $180.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Finally, Piper Sandler raised 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 investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Procter & Gamble currently has a consensus rating of “Moderate Buy” and an average price target of $176.84.

Procter & Gamble Price Performance

Shares of NYSE:PG opened at $155.68 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.71 and a quick ratio of 0.50. Procter & Gamble Company has a 1-year low of $151.90 and a 1-year high of $180.43. The company has a market capitalization of $364.99 billion, a P/E ratio of 24.71, a P/E/G ratio of 4.38 and a beta of 0.40. The firm’s 50 day simple moving average is $161.37 and its two-hundred day simple moving average is $164.53.

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, beating the consensus estimate of $1.53 by $0.01. Procter & Gamble had a net margin of 18.46% and a return on equity of 32.67%. The business had revenue of $19.78 billion for the quarter, compared to the consensus estimate of $20.42 billion. During the same quarter in the previous year, the firm earned $1.52 earnings per share. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. Research analysts expect that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be issued a $1.0568 dividend. This represents a $4.23 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Friday, July 18th. Procter & Gamble’s dividend payout ratio (DPR) is presently 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.