Counterweight Ventures LLC Acquires New Stake in The Procter & Gamble Company (NYSE:PG)

Counterweight Ventures LLC acquired a new position in shares of The Procter & Gamble Company (NYSE:PG) in the third quarter, HoldingsChannel.com reports. The fund acquired 1,450 shares of the company’s stock, valued at approximately $251,000.

Other hedge funds also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. boosted its position in shares of Procter & Gamble by 5.5% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 32,001 shares of the company’s stock worth $5,192,000 after purchasing an additional 1,657 shares in the last quarter. Quent Capital LLC grew its position in Procter & Gamble by 2.0% during the first quarter. Quent Capital LLC now owns 10,684 shares of the company’s stock worth $1,733,000 after buying an additional 206 shares during the period. Wellington Wealth Strategies LLC. purchased a new position in Procter & Gamble in the first quarter valued at about $1,645,000. EP Wealth Advisors LLC lifted its position in shares of Procter & Gamble by 2.2% during the 1st quarter. EP Wealth Advisors LLC now owns 80,470 shares of the company’s stock valued at $13,056,000 after acquiring an additional 1,698 shares during the period. Finally, Rodgers Brothers Inc. boosted its stake in shares of Procter & Gamble by 0.8% during the 1st quarter. Rodgers Brothers Inc. now owns 122,267 shares of the company’s stock worth $19,838,000 after acquiring an additional 998 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

Insider Buying and Selling at Procter & Gamble

In related news, CEO Jon R. Moeller sold 37,240 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $168.89, for a total value of $6,289,463.60. Following the sale, the chief executive officer now directly owns 263,537 shares of the company’s stock, valued at $44,508,763.93. This represents a 12.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Susan Street Whaley sold 634 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total transaction of $108,826.10. Following the transaction, the insider now directly owns 19,341 shares in the company, valued at $3,319,882.65. The trade was a 3.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 270,727 shares of company stock valued at $46,014,037 over the last three months. 0.18% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Evercore ISI lifted their price objective on Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Hsbc Global Res raised Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. TD Cowen began coverage on shares of Procter & Gamble in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 price objective on the stock. Dbs Bank cut shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Piper Sandler assumed coverage on shares of Procter & Gamble in a research report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Procter & Gamble currently has an average rating of “Moderate Buy” and an average price target of $177.00.

Procter & Gamble Stock Performance

NYSE PG opened at $170.77 on Wednesday. The Procter & Gamble Company has a twelve month low of $142.50 and a twelve month high of $177.94. The business’s 50-day moving average price is $170.07 and its 200 day moving average price is $168.49. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $402.17 billion, a PE ratio of 29.44, a price-to-earnings-growth ratio of 3.67 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Friday, October 18th. The company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.03. The business had revenue of $21.74 billion during the quarter, compared to the consensus estimate of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.83 EPS. On average, research analysts predict that The Procter & Gamble Company will post 6.94 earnings per share for the current year.

Procter & Gamble Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were paid a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Friday, October 18th. Procter & Gamble’s dividend payout ratio is presently 69.48%.

About Procter & Gamble

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, SK-II, and Native brands.