Palumbo Wealth Management LLC Raises Holdings in Procter & Gamble Company (The) (NYSE:PG)

Palumbo Wealth Management LLC raised its holdings in shares of Procter & Gamble Company (The) (NYSE:PG) by 8.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 10,792 shares of the company’s stock after acquiring an additional 861 shares during the quarter. Palumbo Wealth Management LLC’s holdings in Procter & Gamble were worth $1,839,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PG. Cladis Investment Advisory LLC boosted its stake in shares of Procter & Gamble by 5.2% in the 4th quarter. Cladis Investment Advisory LLC now owns 4,807 shares of the company’s stock worth $806,000 after buying an additional 236 shares during the last quarter. FAS Wealth Partners Inc. boosted its stake in shares of Procter & Gamble by 2.0% in the 4th quarter. FAS Wealth Partners Inc. now owns 27,690 shares of the company’s stock worth $4,642,000 after buying an additional 549 shares during the last quarter. Berkshire Asset Management LLC PA boosted its stake in shares of Procter & Gamble by 0.9% in the 4th quarter. Berkshire Asset Management LLC PA now owns 236,616 shares of the company’s stock worth $38,833,000 after buying an additional 2,179 shares during the last quarter. Natural Investments LLC purchased a new position in shares of Procter & Gamble in the 4th quarter worth $2,121,000. Finally, Yoffe Investment Management LLC purchased a new position in shares of Procter & Gamble in the 4th quarter worth $1,874,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Redburn Partners set a $161.00 target price on Procter & Gamble in a report on Thursday, May 1st. Erste Group Bank cut Procter & Gamble from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 30th. Raymond James Financial decreased their target price on Procter & Gamble from $190.00 to $185.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Piper Sandler raised their target price on Procter & Gamble from $160.00 to $164.00 and gave the stock a “neutral” rating in a report on Monday, May 5th. Finally, Morgan Stanley set a $180.00 target price on Procter & Gamble and gave the stock an “overweight” rating in a report on Friday, April 25th. Eight research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Procter & Gamble currently has a consensus rating of “Moderate Buy” and a consensus target price of $178.86.

Insider Activity

In other news, CEO Jennifer L. Davis sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total transaction of $161,380.00. Following the completion of the transaction, the chief executive officer now owns 51,965 shares in the company, valued at $8,386,111.70. This trade represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 25,182 shares of the company’s stock, valued at approximately $3,995,627.94. The trade was a 29.47% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Procter & Gamble Price Performance

NYSE:PG opened at $158.93 on Monday. The company has a quick ratio of 0.50, a current ratio of 0.71 and a debt-to-equity ratio of 0.47. The business’s 50-day simple moving average is $163.35 and its two-hundred day simple moving average is $166.00. The stock has a market cap of $372.62 billion, a PE ratio of 25.23, a P/E/G ratio of 4.69 and a beta of 0.43. Procter & Gamble Company has a 52 week low of $156.58 and a 52 week high of $180.43.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.01. The firm had revenue of $19.78 billion during the quarter, compared to analyst estimates of $20.42 billion. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.46%. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.52 earnings per share. As a group, analysts forecast that Procter & Gamble Company will post 6.91 EPS for the current fiscal 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 given a dividend of $1.0568 per share. This is a positive change from Procter & Gamble’s previous quarterly dividend of $1.01. The ex-dividend date was Monday, April 21st. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.66%. Procter & Gamble’s dividend payout ratio (DPR) is presently 67.14%.

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.