Byrne Asset Management LLC Has $1.26 Million Stock Position in The Procter & Gamble Company (NYSE:PG)

Byrne Asset Management LLC lifted its position in shares of The Procter & Gamble Company (NYSE:PG) by 7.1% in the first quarter, Holdings Channel reports. The institutional investor owned 7,401 shares of the company’s stock after acquiring an additional 492 shares during the period. Procter & Gamble makes up about 0.9% of Byrne Asset Management LLC’s portfolio, making the stock its 29th largest position. Byrne Asset Management LLC’s holdings in Procter & Gamble were worth $1,261,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Procter & Gamble by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 229,794,073 shares of the company’s stock worth $38,524,976,000 after purchasing an additional 1,592,061 shares during the period. Geode Capital Management LLC increased its position in shares of Procter & Gamble by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 56,472,195 shares of the company’s stock worth $9,457,000,000 after purchasing an additional 1,267,419 shares during the period. Norges Bank bought a new position in shares of Procter & Gamble in the fourth quarter worth $5,244,463,000. Northern Trust Corp increased its position in shares of 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. Finally, Franklin Resources Inc. increased its position in shares of Procter & Gamble by 6.4% in the fourth quarter. Franklin Resources Inc. now owns 20,197,996 shares of the company’s stock worth $3,386,194,000 after purchasing an additional 1,209,275 shares during the period. Institutional investors and hedge funds own 65.77% of the company’s stock.

Wall Street Analyst Weigh In

PG has been the topic of a number of recent analyst reports. Erste Group Bank cut Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 30th. Bank of America decreased their target price on Procter & Gamble from $190.00 to $180.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Redburn Atlantic cut Procter & Gamble from a “buy” rating to a “neutral” rating and set a $161.00 target price on the stock. in a research report on Thursday, May 1st. Truist Financial decreased their target price on Procter & Gamble from $185.00 to $180.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Finally, Morgan Stanley set a $180.00 price target on Procter & Gamble and gave the company an “overweight” rating in a research note on Friday, April 25th. Eight analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Procter & Gamble currently has a consensus rating of “Moderate Buy” and a consensus target price of $178.86.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, CEO Jennifer L. Davis sold 1,000 shares of the business’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 value of $161,380.00. Following the transaction, the chief executive officer now directly owns 51,965 shares of the company’s stock, valued at approximately $8,386,111.70. The trade was a 1.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the business’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 value of $1,669,208.40. Following the completion of the transaction, the insider now directly owns 25,182 shares in the company, valued at approximately $3,995,627.94. This trade represents a 29.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Procter & Gamble Price Performance

Procter & Gamble stock opened at $160.06 on Friday. The stock’s 50 day moving average is $163.75 and its 200 day moving average is $166.82. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55. The firm has a market cap of $375.27 billion, a P/E ratio of 25.49, a P/E/G ratio of 3.76 and a beta of 0.43. The Procter & Gamble Company has a one year low of $156.58 and a one year high of $180.43.

Procter & Gamble (NYSE:PG) last posted 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 company had revenue of $19.78 billion for the quarter, compared to analyst estimates of $20.42 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.52 earnings per share. As a group, research analysts expect that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were paid a $1.0568 dividend. The ex-dividend date of this dividend was Monday, April 21st. This is a positive change from Procter & Gamble’s previous quarterly dividend of $1.01. This represents a $4.23 annualized dividend and a yield of 2.64%. Procter & Gamble’s payout ratio is 66.98%.

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.