Lane & Associates LLC Acquires 3,395 Shares of Procter & Gamble Company (The) (NYSE:PG)

Lane & Associates LLC raised its position in Procter & Gamble Company (The) (NYSE:PG) by 24.8% in the first quarter, HoldingsChannel.com reports. The fund owned 17,107 shares of the company’s stock after purchasing an additional 3,395 shares during the quarter. Procter & Gamble accounts for approximately 1.6% of Lane & Associates LLC’s portfolio, making the stock its 17th biggest holding. Lane & Associates LLC’s holdings in Procter & Gamble were worth $2,915,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Unique Wealth LLC raised its stake in Procter & Gamble by 2.9% in the 1st quarter. Unique Wealth LLC now owns 2,141 shares of the company’s stock worth $365,000 after purchasing an additional 61 shares in the last quarter. Stableford Capital II LLC raised its stake in Procter & Gamble by 1.1% in the 1st quarter. Stableford Capital II LLC now owns 5,817 shares of the company’s stock worth $993,000 after purchasing an additional 61 shares in the last quarter. Bernard Wealth Management Corp. raised its stake in Procter & Gamble by 20.2% in the 1st quarter. Bernard Wealth Management Corp. now owns 375 shares of the company’s stock worth $64,000 after purchasing an additional 63 shares in the last quarter. Kolinsky Wealth Management LLC raised its stake in Procter & Gamble by 1.1% in the 4th quarter. Kolinsky Wealth Management LLC now owns 5,738 shares of the company’s stock worth $962,000 after purchasing an additional 64 shares in the last quarter. Finally, Retirement Planning Group LLC raised its stake in Procter & Gamble by 1.4% in the 4th quarter. Retirement Planning Group LLC now owns 4,704 shares of the company’s stock worth $789,000 after purchasing an additional 64 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Trading Down 1.0%

PG opened at $156.95 on Friday. Procter & Gamble Company has a fifty-two week low of $155.95 and a fifty-two week high of $180.43. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.71 and a quick ratio of 0.50. The firm has a market capitalization of $367.98 billion, a price-to-earnings ratio of 24.91, a PEG ratio of 4.51 and a beta of 0.40. The company’s 50 day moving average price is $161.77 and its two-hundred day moving average price is $164.94.

Procter & Gamble (NYSE:PG) last posted its 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 18.46% and a return on equity of 32.67%. The firm had revenue of $19.78 billion for the quarter, compared to analyst estimates of $20.42 billion. During the same period in the previous year, the firm posted $1.52 EPS. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, research analysts predict that Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be issued a dividend of $1.0568 per share. This represents a $4.23 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend is Friday, July 18th. Procter & Gamble’s payout ratio is 67.14%.

Insider Buying and Selling

In other news, insider Moses Victor Javier Aguilar sold 10,520 shares of the company’s 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 directly owned 25,182 shares of the company’s stock, valued at approximately $3,995,627.94. This represents a 29.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jennifer L. Davis sold 1,000 shares of the company’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total transaction of $161,380.00. Following the completion of the sale, the chief executive officer directly owned 51,965 shares in the company, valued at approximately $8,386,111.70. This represents a 1.89% 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 insiders.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Piper Sandler lifted their price objective on shares of Procter & Gamble from $160.00 to $164.00 and gave the stock a “neutral” rating in a research note on Monday, May 5th. Erste Group Bank lowered shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 30th. Bank of America decreased their target price on shares of Procter & Gamble from $190.00 to $180.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Truist Financial decreased their target price on shares of Procter & Gamble from $185.00 to $180.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Finally, Barclays reissued an “equal weight” rating on shares of Procter & Gamble in a report on Thursday, March 27th. Eight investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $178.45.

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.