Parvin Asset Management LLC Makes New $1.24 Million Investment in The Procter & Gamble Company (NYSE:PG)

Parvin Asset Management LLC purchased a new stake in The Procter & Gamble Company (NYSE:PG) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,410 shares of the company’s stock, valued at approximately $1,242,000. Procter & Gamble makes up 1.3% of Parvin Asset Management LLC’s investment portfolio, making the stock its 17th largest holding.

A number of other large investors have also made changes to their positions in the stock. Guardian Capital LP grew its position in shares of Procter & Gamble by 1.2% in the fourth quarter. Guardian Capital LP now owns 68,091 shares of the company’s stock valued at $11,415,000 after purchasing an additional 777 shares in the last quarter. Rehmann Capital Advisory Group grew its position in Procter & Gamble by 0.7% in the fourth quarter. Rehmann Capital Advisory Group now owns 37,781 shares of the company’s stock worth $6,334,000 after acquiring an additional 246 shares during the period. Navigoe LLC purchased a new position in Procter & Gamble in the fourth quarter worth approximately $31,000. Triumph Capital Management grew its position in Procter & Gamble by 102.7% in the fourth quarter. Triumph Capital Management now owns 9,400 shares of the company’s stock worth $1,576,000 after acquiring an additional 4,763 shares during the period. Finally, Connors Investor Services Inc. grew its position in Procter & Gamble by 115.7% in the fourth quarter. Connors Investor Services Inc. now owns 20,982 shares of the company’s stock worth $3,518,000 after acquiring an additional 11,255 shares during the period. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Gary A. Coombe sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the completion of the sale, the chief executive officer now owns 22,051 shares in the company, valued at $3,829,817.68. This represents a 61.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.18% of the company’s stock.

Procter & Gamble Price Performance

PG stock opened at $162.28 on Wednesday. The company has a market capitalization of $380.52 billion, a P/E ratio of 25.84, a PEG ratio of 3.76 and a beta of 0.43. The Procter & Gamble Company has a twelve month low of $156.58 and a twelve month high of $180.43. The business has a 50 day simple moving average of $167.97 and a 200-day simple moving average of $168.21. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data 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. The business had revenue of $19.78 billion during the quarter, compared to the consensus estimate of $20.42 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The company’s revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.52 earnings per share. As a group, equities analysts anticipate that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Monday, April 21st will be issued a $1.0568 dividend. This is an increase from Procter & Gamble’s previous quarterly dividend of $1.01. This represents a $4.23 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Monday, April 21st. Procter & Gamble’s dividend payout ratio is presently 66.98%.

Analyst Ratings Changes

PG has been the subject of several analyst reports. Raymond James lowered their price objective on Procter & Gamble from $190.00 to $185.00 and set an “outperform” rating for the company in a research report on Friday, April 25th. Barclays restated an “equal weight” rating on shares of Procter & Gamble in a research note on Thursday, March 27th. Piper Sandler restated an “underperform” rating on shares of Procter & Gamble in a research note on Friday. Morgan Stanley set a $180.00 price target on Procter & Gamble and gave the stock an “overweight” rating in a research note on Friday. Finally, Wells Fargo & Company upped their price target on Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $180.79.

Procter & Gamble 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.