NewEdge Wealth LLC lifted its stake in The Procter & Gamble Company (NYSE:PG) by 3.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,508 shares of the company’s stock after purchasing an additional 1,806 shares during the period. NewEdge Wealth LLC’s holdings in Procter & Gamble were worth $8,599,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of PG. Capital Directions Investment Advisors LLC bought a new position in shares of Procter & Gamble in the 3rd quarter worth $27,000. University of Texas Texas AM Investment Managment Co. bought a new position in shares of Procter & Gamble in the 3rd quarter worth $29,000. Itau Unibanco Holding S.A. bought a new position in shares of Procter & Gamble in the 2nd quarter worth $60,000. Strategic Asset Management LLC bought a new position in shares of Procter & Gamble in the 3rd quarter worth $62,000. Finally, Benjamin Edwards Inc. acquired a new stake in Procter & Gamble during the 3rd quarter worth $91,000. Institutional investors and hedge funds own 62.86% of the company’s stock.
In other Procter & Gamble news, CEO Ma. Fatima Francisco sold 3,400 shares of the firm’s stock in a transaction on Wednesday, November 3rd. The stock was sold at an average price of $145.00, for a total transaction of $493,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman David S. Taylor sold 50,000 shares of the firm’s stock in a transaction on Wednesday, November 10th. The shares were sold at an average price of $146.00, for a total value of $7,300,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 582,494 shares of company stock valued at $91,757,751 in the last ninety days. Insiders own 0.51% of the company’s stock.
NYSE PG opened at $160.50 on Friday. The company has a market cap of $388.40 billion, a PE ratio of 29.34, a PEG ratio of 4.03 and a beta of 0.46. The company has a current ratio of 0.67, a quick ratio of 0.49 and a debt-to-equity ratio of 0.45. The Procter & Gamble Company has a 12 month low of $121.54 and a 12 month high of $165.35. The stock has a 50 day moving average of $157.25 and a 200-day moving average of $147.88.
Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Wednesday, January 19th. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.65 by $0.01. The company had revenue of $20.95 billion during the quarter, compared to the consensus estimate of $20.34 billion. Procter & Gamble had a return on equity of 31.49% and a net margin of 18.33%. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.64 EPS. As a group, sell-side analysts predict that The Procter & Gamble Company will post 5.91 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 15th. Stockholders of record on Friday, January 21st will be issued a $0.8698 dividend. This represents a $3.48 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Thursday, January 20th. Procter & Gamble’s payout ratio is presently 63.62%.
Several analysts recently commented on PG shares. Truist Financial raised their price objective on Procter & Gamble from $145.00 to $165.00 in a research note on Thursday, January 20th. Royal Bank of Canada raised their price objective on Procter & Gamble from $150.00 to $160.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 20th. Morgan Stanley raised their price objective on Procter & Gamble from $161.00 to $177.00 and gave the stock an “overweight” rating in a research note on Thursday, January 20th. Deutsche Bank Aktiengesellschaft raised their price objective on Procter & Gamble from $175.00 to $179.00 and gave the stock a “buy” rating in a research note on Thursday, January 20th. Finally, Zacks Investment Research raised Procter & Gamble from a “hold” rating to a “buy” rating and set a $147.00 price target on the stock in a research note on Tuesday, October 5th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $156.00.
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 & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment comprises of shave care like female and male blades and razors, pre and post shave products, and appliances.
Featured Story: What can cause a stock to outperform?
Want to see what other hedge funds are holding PG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Procter & Gamble Company (NYSE:PG).
Want More Great Investing Ideas?
