Palumbo Wealth Management LLC Boosts Stock Position in Procter & Gamble Company (The) (NYSE:PG)

Palumbo Wealth Management LLC lifted its position in Procter & Gamble Company (The) (NYSE:PG) by 8.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,792 shares of the company’s stock after purchasing an additional 861 shares during the quarter. Palumbo Wealth Management LLC’s holdings in Procter & Gamble were worth $1,839,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PG. Norges Bank bought a new stake in shares of Procter & Gamble in the 4th quarter valued at about $5,244,463,000. GAMMA Investing LLC lifted its stake in shares of Procter & Gamble by 20,758.5% in the 1st quarter. GAMMA Investing LLC now owns 7,951,456 shares of the company’s stock valued at $1,355,087,000 after acquiring an additional 7,913,335 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Procter & Gamble in the 4th quarter valued at about $1,010,685,000. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Procter & Gamble by 1,195.1% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company’s stock valued at $580,596,000 after acquiring an additional 2,973,757 shares during the last quarter. Finally, Capital Research Global Investors lifted its stake in shares of Procter & Gamble by 62.5% in the 4th quarter. Capital Research Global Investors now owns 7,398,120 shares of the company’s stock valued at $1,240,294,000 after acquiring an additional 2,846,560 shares during the last quarter. Institutional investors own 65.77% of the company’s stock.

Procter & Gamble Stock Up 0.6%

Shares of NYSE:PG opened at $158.93 on Monday. Procter & Gamble Company has a 52-week low of $156.58 and a 52-week high of $180.43. The firm has a market capitalization of $372.62 billion, a P/E ratio of 25.23, a P/E/G ratio of 4.69 and a beta of 0.43. The stock has a 50 day moving average price of $163.35 and a 200-day moving average price of $166.00. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.71.

Procter & Gamble (NYSE:PG) last announced its earnings results on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.01. The firm had revenue of $19.78 billion during the quarter, compared to analyst estimates of $20.42 billion. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.46%. The business’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.52 EPS. As a group, equities research analysts anticipate that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, April 21st were paid a $1.0568 dividend. The ex-dividend date was Monday, April 21st. This represents a $4.23 annualized dividend and a dividend yield of 2.66%. This is an increase from Procter & Gamble’s previous quarterly dividend of $1.01. Procter & Gamble’s dividend payout ratio is presently 67.14%.

Insider Buying and Selling

In other Procter & Gamble news, CEO Jennifer L. Davis sold 1,000 shares of the stock in a transaction 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 approximately $8,386,111.70. This trade represents a 1.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $158.67, for a total value of $1,669,208.40. Following the sale, the insider now owns 25,182 shares in the company, valued at approximately $3,995,627.94. This represents a 29.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PG shares. Piper Sandler boosted their target price on Procter & Gamble from $160.00 to $164.00 and gave the company a “neutral” rating in a research note on Monday, May 5th. Bank of America lowered their price target on Procter & Gamble from $190.00 to $180.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Redburn Atlantic lowered Procter & Gamble from a “buy” rating to a “neutral” rating and set a $161.00 price target for the company. in a research report on Thursday, May 1st. Barclays reaffirmed an “equal weight” rating on shares of Procter & Gamble in a research report on Thursday, March 27th. Finally, Royal Bank Of Canada raised Procter & Gamble from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $164.00 to $177.00 in a research report on Friday, April 25th. Eight analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.