Finer Wealth Management Inc. Raises Holdings in Procter & Gamble Company (The) (NYSE:PG)

Finer Wealth Management Inc. increased its stake in Procter & Gamble Company (The) (NYSE:PG) by 1.3% in the 1st quarter, HoldingsChannel reports. The fund owned 24,256 shares of the company’s stock after acquiring an additional 312 shares during the period. Procter & Gamble accounts for approximately 2.5% of Finer Wealth Management Inc.’s holdings, making the stock its 11th largest holding. Finer Wealth Management Inc.’s holdings in Procter & Gamble were worth $4,134,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northern Trust Corp boosted its position in shares of Procter & Gamble by 10.1% during the fourth quarter. Northern Trust Corp now owns 29,395,208 shares of the company’s stock valued at $4,928,107,000 after buying an additional 2,703,757 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Procter & Gamble by 3.5% during the first quarter. Goldman Sachs Group Inc. now owns 17,405,539 shares of the company’s stock valued at $2,966,252,000 after buying an additional 583,629 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Procter & Gamble by 1.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 17,090,898 shares of the company’s stock valued at $2,911,989,000 after buying an additional 208,991 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Procter & Gamble by 15.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,274,563 shares of the company’s stock valued at $2,728,430,000 after buying an additional 2,224,912 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Procter & Gamble by 19.8% during the first quarter. Invesco Ltd. now owns 13,493,604 shares of the company’s stock valued at $2,299,580,000 after buying an additional 2,228,151 shares during the period. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PG. Bank of America dropped their target price on Procter & Gamble from $190.00 to $180.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Royal Bank Of Canada upgraded Procter & Gamble from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $164.00 to $177.00 in a report on Friday, April 25th. Barclays set a $164.00 price target on Procter & Gamble and gave the company an “equal weight” rating in a report on Thursday, July 31st. Morgan Stanley set a $180.00 price target on Procter & Gamble and gave the company an “overweight” rating in a report on Friday, April 25th. Finally, UBS Group set a $180.00 price target on Procter & Gamble and gave the company a “buy” rating in a report on Wednesday, July 30th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $175.88.

Procter & Gamble Stock Performance

Shares of NYSE:PG opened at $155.03 on Tuesday. The company has a market capitalization of $363.13 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 4.05 and a beta of 0.37. Procter & Gamble Company has a 52 week low of $149.91 and a 52 week high of $180.43. The company has a quick ratio of 0.49, a current ratio of 0.70 and a debt-to-equity ratio of 0.49. The firm has a 50 day moving average of $158.01 and a 200 day moving average of $163.60.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.06. The business had revenue of $20.89 billion for the quarter, compared to the consensus estimate of $20.79 billion. Procter & Gamble had a return on equity of 32.69% and a net margin of 18.95%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.40 earnings per share. On average, sell-side analysts predict that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be given a dividend of $1.0568 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.7%. Procter & Gamble’s dividend payout ratio is presently 64.98%.

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.