Spire Wealth Management decreased its position in The Procter & Gamble Company (NYSE:PG – Get Rating) by 13.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 89,739 shares of the company’s stock after selling 14,157 shares during the period. Spire Wealth Management’s holdings in Procter & Gamble were worth $13,712,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in Procter & Gamble by 1.2% in the 4th quarter. BlackRock Inc. now owns 156,813,285 shares of the company’s stock worth $25,651,517,000 after purchasing an additional 1,785,863 shares during the period. State Street Corp boosted its stake in Procter & Gamble by 1.7% in the 4th quarter. State Street Corp now owns 105,458,164 shares of the company’s stock worth $17,250,846,000 after purchasing an additional 1,716,517 shares during the period. Geode Capital Management LLC boosted its stake in Procter & Gamble by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 43,444,122 shares of the company’s stock worth $7,090,497,000 after purchasing an additional 972,826 shares during the period. Norges Bank acquired a new position in Procter & Gamble in the 4th quarter worth $3,726,603,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in Procter & Gamble by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,710,055 shares of the company’s stock worth $2,569,850,000 after purchasing an additional 293,092 shares during the period. 63.64% of the stock is owned by institutional investors.
In other Procter & Gamble news, CAO Matthew W. Janzaruk sold 334 shares of the stock in a transaction that occurred on Tuesday, April 26th. The shares were sold at an average price of $162.43, for a total transaction of $54,251.62. Following the transaction, the chief accounting officer now owns 1,220 shares in the company, valued at approximately $198,164.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ma. Fatima Francisco sold 18,000 shares of the stock in a transaction that occurred on Thursday, April 21st. The stock was sold at an average price of $164.10, for a total transaction of $2,953,800.00. Following the transaction, the chief executive officer now owns 7,020 shares in the company, valued at approximately $1,151,982. The disclosure for this sale can be found here. Over the last three months, insiders sold 108,415 shares of company stock worth $17,777,055. Insiders own 0.51% of the company’s stock.
A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Procter & Gamble from $171.00 to $157.00 and set a “buy” rating for the company in a research note on Tuesday, June 21st. Raymond James increased their price objective on shares of Procter & Gamble from $175.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, April 21st. Evercore ISI set a $170.00 price objective on shares of Procter & Gamble in a research note on Monday, June 20th. Jefferies Financial Group increased their price objective on shares of Procter & Gamble from $179.00 to $185.00 in a research note on Thursday, April 21st. Finally, Truist Financial upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and increased their price objective for the stock from $165.00 to $175.00 in a research note on Tuesday, March 22nd. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $165.64.
Procter & Gamble stock opened at $140.92 on Wednesday. The stock has a market cap of $338.11 billion, a P/E ratio of 24.59, a P/E/G ratio of 4.08 and a beta of 0.40. The company has a quick ratio of 0.47, a current ratio of 0.68 and a debt-to-equity ratio of 0.53. The Procter & Gamble Company has a twelve month low of $129.50 and a twelve month high of $165.35. The company’s 50-day moving average price is $148.42 and its two-hundred day moving average price is $154.17.
Procter & Gamble (NYSE:PG – Get Rating) last released its quarterly earnings results on Wednesday, April 20th. The company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.05. The firm had revenue of $19.38 billion for the quarter, compared to analysts’ expectations of $18.69 billion. Procter & Gamble had a net margin of 18.33% and a return on equity of 32.39%. The business’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.26 EPS. Equities analysts anticipate that The Procter & Gamble Company will post 5.84 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, May 16th. Shareholders of record on Friday, April 22nd were issued a $0.9133 dividend. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.87. This represents a $3.65 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend was Thursday, April 21st. Procter & Gamble’s dividend payout ratio is currently 63.70%.
Procter & Gamble Company Profile (Get Rating)
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North and Latin America, Europe, the Asia Pacific, Greater China, India, the Middle East, and Africa. It operates in five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care.
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