Tang Capital Management LLC Acquires 2,817 Shares of The Procter & Gamble Company (NYSE:PG)

Tang Capital Management LLC grew its stake in shares of The Procter & Gamble Company (NYSE:PG) by 54.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,962 shares of the company’s stock after purchasing an additional 2,817 shares during the quarter. Tang Capital Management LLC’s holdings in Procter & Gamble were worth $1,335,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PG. NewSquare Capital LLC increased its stake in shares of Procter & Gamble by 933.3% in the fourth quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock valued at $26,000 after buying an additional 140 shares during the period. Navigoe LLC bought a new position in shares of Procter & Gamble in the fourth quarter valued at approximately $31,000. Hoey Investments Inc. lifted its holdings in Procter & Gamble by 321.7% during the fourth quarter. Hoey Investments Inc. now owns 194 shares of the company’s stock worth $33,000 after acquiring an additional 148 shares during the period. LFA Lugano Financial Advisors SA bought a new stake in shares of Procter & Gamble in the fourth quarter valued at $34,000. Finally, Atlantic Private Wealth LLC raised its stake in shares of Procter & Gamble by 95.3% in the fourth quarter. Atlantic Private Wealth LLC now owns 207 shares of the company’s stock valued at $35,000 after buying an additional 101 shares during the period. Institutional investors and hedge funds own 65.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Bank of America decreased their price objective on Procter & Gamble from $190.00 to $180.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Stifel Nicolaus boosted their target price on Procter & Gamble from $161.00 to $165.00 and gave the company a “hold” rating in a research note on Thursday, January 23rd. Truist Financial decreased their target price on Procter & Gamble from $185.00 to $180.00 and set a “buy” rating for the company in a research report on Friday, April 25th. JPMorgan Chase & Co. cut their price target on Procter & Gamble from $181.00 to $172.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Finally, Barclays reiterated an “equal weight” rating on shares of Procter & Gamble in a research note on Thursday, March 27th. Eight analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $178.52.

Procter & Gamble Trading Up 0.5%

Shares of PG opened at $163.28 on Friday. The firm’s 50-day moving average is $164.50 and its two-hundred day moving average is $167.30. The firm has a market capitalization of $382.82 billion, a P/E ratio of 26.00, a PEG ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a twelve month low of $156.58 and a twelve month high of $180.43. 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 results on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.01. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The company had revenue of $19.78 billion for the quarter, compared to the consensus estimate of $20.42 billion. During the same quarter last year, the firm posted $1.52 earnings per share. Procter & Gamble’s revenue was down 2.1% on a year-over-year basis. On average, research analysts predict that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, April 21st were issued a $1.0568 dividend. The ex-dividend date of this dividend was Monday, April 21st. This is a positive change from Procter & Gamble’s previous quarterly dividend of $1.01. This represents a $4.23 annualized dividend and a dividend yield of 2.59%. Procter & Gamble’s payout ratio is 66.98%.

Insider Activity

In other Procter & Gamble news, CEO Gary A. Coombe sold 18,000 shares of Procter & Gamble stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $171.66, for a total value of $3,089,880.00. Following the completion of the sale, the chief executive officer now directly owns 22,051 shares in the company, valued at $3,785,274.66. The trade was a 44.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 now owns 25,182 shares of the company’s stock, valued at $3,995,627.94. The trade was a 29.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 64,520 shares of company stock valued at $10,999,268. Company insiders own 0.18% of the company’s stock.

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.