Main Street Research LLC Grows Stake in The Procter & Gamble Company (NYSE:PG)

Main Street Research LLC lifted its holdings in The Procter & Gamble Company (NYSE:PG) by 5.1% in the 4th quarter, Holdings Channel reports. The firm owned 385,813 shares of the company’s stock after buying an additional 18,547 shares during the quarter. Procter & Gamble accounts for 4.0% of Main Street Research LLC’s portfolio, making the stock its 5th biggest holding. Main Street Research LLC’s holdings in Procter & Gamble were worth $64,682,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PG. NewSquare Capital LLC raised its position in shares of Procter & Gamble by 933.3% in the fourth quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock valued at $26,000 after purchasing an additional 140 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in shares of Procter & Gamble during the 3rd quarter worth $33,000. Noble Wealth Management PBC acquired a new position in Procter & Gamble in the 4th quarter valued at $39,000. Bay Harbor Wealth Management LLC raised its holdings in Procter & Gamble by 972.0% in the 4th quarter. Bay Harbor Wealth Management LLC now owns 268 shares of the company’s stock worth $45,000 after acquiring an additional 243 shares during the period. Finally, New Wave Wealth Advisors LLC acquired a new position in Procter & Gamble during the 4th quarter worth $46,000. 65.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on PG. Wells Fargo & Company lifted their price objective on Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Piper Sandler lowered their target price on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. UBS Group reiterated a “buy” rating on shares of Procter & Gamble in a report on Monday, February 10th. Barclays boosted their target price on shares of Procter & Gamble from $155.00 to $159.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Seven 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $181.11.

Procter & Gamble Stock Up 0.8 %

Shares of NYSE:PG opened at $176.06 on Monday. The company’s fifty day moving average is $166.85 and its 200-day moving average is $169.77. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76. The Procter & Gamble Company has a 52 week low of $153.52 and a 52 week high of $180.43. The company has a market capitalization of $412.84 billion, a PE ratio of 28.04, a P/E/G ratio of 3.76 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.02. The firm had revenue of $21.88 billion for the quarter, compared to analyst estimates of $21.66 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.84 earnings per share. Equities research analysts predict that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th were given a $1.0065 dividend. The ex-dividend date was Friday, January 24th. This represents a $4.03 annualized dividend and a yield of 2.29%. Procter & Gamble’s payout ratio is 64.01%.

Insiders Place Their Bets

In other news, CEO Gary A. Coombe sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the transaction, the chief executive officer now directly owns 22,051 shares in the company, valued at approximately $3,829,817.68. This represents a 61.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Marc S. Pritchard sold 90,450 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the sale, the insider now directly owns 172,814 shares in the company, valued at $28,313,845.76. This trade represents a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 143,450 shares of company stock valued at $23,988,008. 0.18% of the stock is currently owned by corporate insiders.

About Procter & Gamble

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.