Portside Wealth Group LLC Boosts Stake in The Procter & Gamble Company (NYSE:PG)

Portside Wealth Group LLC lifted its position in shares of The Procter & Gamble Company (NYSE:PG) by 12.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,698 shares of the company’s stock after acquiring an additional 1,478 shares during the quarter. Portside Wealth Group LLC’s holdings in Procter & Gamble were worth $2,334,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PG. Norges Bank acquired a new position in shares of Procter & Gamble during the 4th quarter worth about $5,244,463,000. GAMMA Investing LLC raised its holdings in Procter & Gamble by 20,758.5% in the 1st quarter. GAMMA Investing LLC now owns 7,951,456 shares of the company’s stock valued at $1,355,087,000 after acquiring an additional 7,913,335 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Procter & Gamble in the 4th quarter valued at about $1,010,685,000. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of Procter & Gamble by 1,195.1% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company’s stock valued at $580,596,000 after buying an additional 2,973,757 shares during the period. Finally, Capital Research Global Investors grew its stake in shares of Procter & Gamble by 62.5% in the 4th quarter. Capital Research Global Investors now owns 7,398,120 shares of the company’s stock valued at $1,240,294,000 after buying an additional 2,846,560 shares during the period. Institutional investors and hedge funds own 65.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PG shares. Barclays reaffirmed an “equal weight” rating on shares of Procter & Gamble in a research report on Thursday, March 27th. Bank of America decreased their price target on shares of Procter & Gamble from $190.00 to $180.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Truist Financial reduced their price objective 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. UBS Group restated a “buy” rating on shares of Procter & Gamble in a report on Monday, February 10th. Finally, Royal Bank of Canada upgraded shares of Procter & Gamble from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $164.00 to $177.00 in a report on Friday, April 25th. Eight 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 company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.86.

Procter & Gamble Stock Up 0.7%

Shares of NYSE:PG opened at $164.01 on Monday. The company has a market cap of $384.53 billion, a price-to-earnings ratio of 26.12, a PEG ratio of 3.76 and a beta of 0.43. The firm’s 50-day simple moving average is $164.01 and its 200-day simple moving average is $167.21. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a fifty-two week low of $156.58 and a fifty-two week high of $180.43.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Thursday, April 24th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.01. The firm had revenue of $19.78 billion for the quarter, compared to the consensus estimate of $20.42 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The firm’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.52 earnings per share. As a group, equities research analysts predict that The Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were given a dividend of $1.0568 per share. The ex-dividend date was Monday, April 21st. This represents a $4.23 dividend on an annualized basis and a yield of 2.58%. This is a boost from Procter & Gamble’s previous quarterly dividend of $1.01. Procter & Gamble’s payout ratio is presently 66.98%.

Insiders Place Their Bets

In related news, insider Moses Victor Javier Aguilar sold 10,520 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the completion of the transaction, the insider now 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jennifer L. Davis sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total transaction of $161,380.00. Following the transaction, the chief executive officer now directly owns 51,965 shares of the company’s stock, valued at $8,386,111.70. This trade represents a 1.89% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Procter & Gamble Company 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.