NorthRock Partners LLC Purchases 33,400 Shares of The Procter & Gamble Company (NYSE:PG)

NorthRock Partners LLC increased its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 219.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,633 shares of the company’s stock after acquiring an additional 33,400 shares during the period. NorthRock Partners LLC’s holdings in Procter & Gamble were worth $8,153,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Procter & Gamble during the fourth quarter valued at approximately $5,244,463,000. Raymond James Financial Inc. acquired a new stake in shares of Procter & Gamble in the 4th quarter valued at $1,010,685,000. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of Procter & Gamble by 1,195.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company’s stock worth $580,596,000 after acquiring an additional 2,973,757 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Procter & Gamble by 62.5% during the fourth 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 period. Finally, Northern Trust Corp increased its position in Procter & Gamble by 10.1% in the fourth quarter. Northern Trust Corp now owns 29,395,208 shares of the company’s stock worth $4,928,107,000 after purchasing an additional 2,703,757 shares during the period. 65.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PG. Truist Financial cut their price target on Procter & Gamble from $185.00 to $180.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Redburn Partners set a $161.00 target price on Procter & Gamble in a research note on Thursday, May 1st. Bank of America decreased their target price 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 downgraded shares of Procter & Gamble from a “buy” rating to a “neutral” rating and set a $161.00 price target on the stock. in a research report on Thursday, May 1st. Finally, Wells Fargo & Company raised 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. Eight investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $178.52.

Procter & Gamble Stock Performance

NYSE:PG opened at $158.67 on Wednesday. The company has a market cap of $372.01 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a fifty-two week low of $156.58 and a fifty-two week high of $180.43. 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 stock has a fifty day moving average price of $165.33 and a 200-day moving average price of $167.43.

Procter & Gamble (NYSE:PG) last issued its earnings results on Thursday, April 24th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.53 by $0.01. The company had revenue of $19.78 billion during the quarter, compared to analysts’ expectations of $20.42 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.52 EPS. As a group, equities analysts anticipate that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, April 21st will be given a $1.0568 dividend. This represents a $4.23 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Monday, April 21st. This is a boost from Procter & Gamble’s previous quarterly dividend of $1.01. Procter & Gamble’s payout ratio is currently 66.98%.

Insider Transactions at Procter & Gamble

In related news, CEO Gary A. Coombe sold 35,000 shares of the firm’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 value of $6,078,800.00. Following the completion of the transaction, the chief executive officer now owns 22,051 shares in the company, valued at $3,829,817.68. This trade represents a 61.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the firm’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $158.67, for a total value of $1,669,208.40. Following the transaction, the insider now directly owns 25,182 shares of the company’s stock, 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. Over the last 90 days, insiders sold 64,520 shares of company stock valued at $10,999,268. 0.18% of the stock is currently owned by 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.