Procter & Gamble Company (The) $PG Shares Acquired by Gateway Wealth Partners LLC

Gateway Wealth Partners LLC increased its position in Procter & Gamble Company (The) (NYSE:PG) by 347.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,281 shares of the company’s stock after purchasing an additional 13,416 shares during the quarter. Gateway Wealth Partners LLC’s holdings in Procter & Gamble were worth $2,496,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Procter & Gamble in the 4th quarter valued at about $4,664,783,000. Cardano Risk Management B.V. increased its position in shares of Procter & Gamble by 1,104.8% during the fourth quarter. Cardano Risk Management B.V. now owns 9,521,440 shares of the company’s stock worth $1,364,518,000 after acquiring an additional 8,731,126 shares during the last quarter. Auto Owners Insurance Co increased its position in shares of Procter & Gamble by 14,231.0% during the fourth quarter. Auto Owners Insurance Co now owns 3,549,645 shares of the company’s stock worth $508,700,000 after acquiring an additional 3,524,876 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Procter & Gamble by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 237,459,756 shares of the company’s stock worth $34,030,358,000 after acquiring an additional 2,829,151 shares in the last quarter. Finally, Amundi boosted its holdings in Procter & Gamble by 26.3% in the third quarter. Amundi now owns 10,682,455 shares of the company’s stock valued at $1,606,748,000 after purchasing an additional 2,222,560 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Analysts Set New Price Targets

PG has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $163.00 price objective on shares of Procter & Gamble in a research note on Monday, April 27th. The Goldman Sachs Group reduced their target price on Procter & Gamble from $159.00 to $155.00 and set a “neutral” rating for the company in a research note on Wednesday, April 8th. BMO Capital Markets raised their price target on shares of Procter & Gamble from $169.00 to $170.00 and gave the stock an “outperform” rating in a research report on Monday, June 29th. Sanford C. Bernstein assumed coverage on shares of Procter & Gamble in a research note on Thursday, June 11th. They issued a “market perform” rating and a $156.00 price target for the company. Finally, Evercore set a $162.00 price target on shares of Procter & Gamble in a report on Monday, April 27th. Twelve equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, Procter & Gamble presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.74.

Procter & Gamble Stock Performance

PG stock opened at $148.66 on Tuesday. The stock’s 50 day simple moving average is $147.46 and its 200 day simple moving average is $148.82. Procter & Gamble Company has a 12-month low of $137.62 and a 12-month high of $167.25. The firm has a market cap of $346.17 billion, a P/E ratio of 21.73, a P/E/G ratio of 7.33 and a beta of 0.39. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.44.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Friday, April 24th. The company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.03. The firm had revenue of $21.23 billion during the quarter, compared to the consensus estimate of $21.52 billion. Procter & Gamble had a net margin of 19.16% and a return on equity of 32.00%. The firm’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.54 earnings per share. As a group, equities research analysts predict that Procter & Gamble Company will post 6.88 EPS for the current year.

Procter & Gamble Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Friday, July 24th will be issued a $1.0885 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $4.35 annualized dividend and a dividend yield of 2.9%. Procter & Gamble’s payout ratio is 63.60%.

Procter & Gamble Company Profile

Procter & Gamble (NYSE: PG) is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world’s largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.

P&G’s product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.