Foster & Motley Inc. trimmed its holdings in shares of Procter & Gamble Company (The) (NYSE:PG – Free Report) by 11.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 58,761 shares of the company’s stock after selling 7,736 shares during the quarter. Foster & Motley Inc.’s holdings in Procter & Gamble were worth $8,488,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in Procter & Gamble during the 4th quarter worth approximately $4,664,783,000. Cardano Risk Management B.V. raised its position in shares of Procter & Gamble by 1,104.8% in the 4th quarter. Cardano Risk Management B.V. now owns 9,521,440 shares of the company’s stock valued at $1,364,518,000 after purchasing an additional 8,731,126 shares in the last quarter. Auto Owners Insurance Co boosted its stake in shares of Procter & Gamble by 14,231.0% during the 4th quarter. Auto Owners Insurance Co now owns 3,549,645 shares of the company’s stock valued at $508,700,000 after buying an additional 3,524,876 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Procter & Gamble by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 237,459,756 shares of the company’s stock worth $34,030,358,000 after buying an additional 2,829,151 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Procter & Gamble by 100.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 5,460,939 shares of the company’s stock worth $782,607,000 after buying an additional 2,741,924 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.
Procter & Gamble Stock Performance
PG stock opened at $148.58 on Friday. The stock’s 50 day simple moving average is $145.82 and its 200 day simple moving average is $147.93. Procter & Gamble Company has a 12-month low of $137.62 and a 12-month high of $167.25. The firm has a market cap of $345.99 billion, a P/E ratio of 21.72, a P/E/G ratio of 6.61 and a beta of 0.39. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.44.
Procter & Gamble Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, April 24th were issued a $1.0885 dividend. This is a boost from Procter & Gamble’s previous quarterly dividend of $1.06. The ex-dividend date of this dividend was Friday, April 24th. This represents a $4.35 annualized dividend and a dividend yield of 2.9%. Procter & Gamble’s dividend payout ratio (DPR) is presently 63.60%.
Analysts Set New Price Targets
Several analysts recently issued reports on the stock. The Goldman Sachs Group cut their price target on shares of Procter & Gamble from $159.00 to $155.00 and set a “neutral” rating on the stock in a report on Wednesday, April 8th. Erste Group Bank lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating in a report on Tuesday, March 24th. Piper Sandler boosted their target price on shares of Procter & Gamble from $142.00 to $145.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Raymond James Financial cut their target price on shares of Procter & Gamble from $175.00 to $170.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 14th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $163.00 price target on shares of Procter & Gamble in a research report on Monday, April 27th. Eleven research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $160.78.
Procter & Gamble Company Profile
Procter & Gamble (NYSE: PG) is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world’s largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.
P&G’s product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.
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