NewSquare Capital LLC Boosts Position in The Procter & Gamble Company (NYSE:PG)

NewSquare Capital LLC boosted its position in shares of The Procter & Gamble Company (NYSE:PG) by 402.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 779 shares of the company’s stock after acquiring an additional 624 shares during the quarter. NewSquare Capital LLC’s holdings in Procter & Gamble were worth $133,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Greystone Financial Group LLC grew its holdings in Procter & Gamble by 3.0% during the first quarter. Greystone Financial Group LLC now owns 41,210 shares of the company’s stock valued at $7,023,000 after purchasing an additional 1,181 shares during the period. Courier Capital LLC grew its holdings in Procter & Gamble by 8.2% during the first quarter. Courier Capital LLC now owns 38,863 shares of the company’s stock valued at $6,623,000 after purchasing an additional 2,936 shares during the period. Wesbanco Bank Inc. grew its holdings in Procter & Gamble by 1.1% during the first quarter. Wesbanco Bank Inc. now owns 254,391 shares of the company’s stock valued at $43,353,000 after purchasing an additional 2,704 shares during the period. First Citizens Bank & Trust Co. grew its holdings in Procter & Gamble by 3.4% during the first quarter. First Citizens Bank & Trust Co. now owns 139,038 shares of the company’s stock valued at $23,695,000 after purchasing an additional 4,550 shares during the period. Finally, Sherman Asset Management Inc. grew its holdings in Procter & Gamble by 5.6% during the first quarter. Sherman Asset Management Inc. now owns 2,674 shares of the company’s stock valued at $456,000 after purchasing an additional 143 shares during the period. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Procter & Gamble Price Performance

Shares of Procter & Gamble stock opened at $162.55 on Tuesday. The stock has a 50 day moving average of $163.86 and a 200 day moving average of $167.11. The Procter & Gamble Company has a 12 month low of $156.58 and a 12 month high of $180.43. The firm has a market cap of $381.10 billion, a PE ratio of 25.88, a PEG ratio of 3.76 and a beta of 0.43. 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 issued its quarterly earnings data on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.01. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The business had revenue of $19.78 billion for the quarter, compared to the consensus estimate of $20.42 billion. During the same period in the prior year, the business posted $1.52 earnings per share. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, research analysts expect that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were given a dividend of $1.0568 per share. The ex-dividend date of this dividend was Monday, April 21st. This is an increase from Procter & Gamble’s previous quarterly dividend of $1.01. This represents a $4.23 dividend on an annualized basis and a yield of 2.60%. Procter & Gamble’s dividend payout ratio is 66.98%.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, CEO Jennifer L. Davis sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total transaction of $161,380.00. Following the sale, the chief executive officer now directly owns 51,965 shares in the company, valued at $8,386,111.70. This represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $158.67, for a total value of $1,669,208.40. Following the completion of the sale, the insider now owns 25,182 shares in the company, valued at approximately $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. Company insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PG. Piper Sandler upped their price objective on Procter & Gamble from $160.00 to $164.00 and gave the stock a “neutral” rating in a research note on Monday, May 5th. Citigroup dropped their price objective on Procter & Gamble from $200.00 to $181.00 and set a “buy” rating for the company in a research note on Friday, April 25th. JPMorgan Chase & Co. dropped their price objective on Procter & Gamble from $181.00 to $172.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Erste Group Bank lowered Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 30th. Finally, Bank of America dropped their price objective on Procter & Gamble from $190.00 to $180.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Eight analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Procter & Gamble currently has an average rating of “Moderate Buy” and an average target price of $178.86.

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.