Grimes & Company Inc. Boosts Position in The Procter & Gamble Company (NYSE:PG)

Grimes & Company Inc. lifted its holdings in The Procter & Gamble Company (NYSE:PG) by 0.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,285 shares of the company’s stock after acquiring an additional 134 shares during the quarter. Grimes & Company Inc.’s holdings in Procter & Gamble were worth $5,672,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. NewSquare Capital LLC grew its stake in shares of Procter & Gamble by 933.3% during the 4th quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock worth $26,000 after purchasing an additional 140 shares during the period. Navigoe LLC purchased a new position in shares of Procter & Gamble during the 4th quarter valued at approximately $31,000. Capital A Wealth Management LLC purchased a new position in shares of Procter & Gamble during the 4th quarter valued at approximately $31,000. Hoey Investments Inc. lifted its position in shares of Procter & Gamble by 321.7% during the 4th quarter. Hoey Investments Inc. now owns 194 shares of the company’s stock valued at $33,000 after buying an additional 148 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA purchased a new position in shares of Procter & Gamble during the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Piper Sandler increased their target price on Procter & Gamble from $160.00 to $164.00 and gave the company a “neutral” rating in a research report on Monday, May 5th. Redburn Atlantic lowered 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. Citigroup decreased their target price on Procter & Gamble from $200.00 to $181.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Raymond James decreased their price objective on Procter & Gamble from $190.00 to $185.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Finally, Erste Group Bank lowered Procter & Gamble from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 30th. Eight research 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 stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $178.86.

Insider Activity at Procter & Gamble

In other news, insider Moses Victor Javier Aguilar sold 10,520 shares of the stock in a transaction that occurred 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 completion of the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jennifer L. Davis sold 1,000 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total value of $161,380.00. Following the completion of the sale, the chief executive officer now directly owns 51,965 shares of the company’s stock, valued at $8,386,111.70. The trade was a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Procter & Gamble Stock Up 0.3%

Shares of PG opened at $160.79 on Tuesday. The firm has a market cap of $376.99 billion, a P/E ratio of 25.60, a price-to-earnings-growth ratio of 3.76 and a beta of 0.43. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $163.81 and its 200 day moving average price is $166.51. The Procter & Gamble Company has a 12-month low of $156.58 and a 12-month high of $180.43.

Procter & Gamble (NYSE:PG) last released its earnings results on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.01. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The company had revenue of $19.78 billion during the quarter, compared to the consensus estimate of $20.42 billion. During the same period in the previous year, the company posted $1.52 EPS. Procter & Gamble’s revenue was down 2.1% compared to the same quarter last year. On average, sell-side analysts forecast that The Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, April 21st were issued a $1.0568 dividend. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.63%. This is a positive change from Procter & Gamble’s previous quarterly dividend of $1.01. The ex-dividend date was Monday, April 21st. Procter & Gamble’s dividend payout ratio (DPR) is presently 66.98%.

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.