Clearstead Trust LLC bought a new stake in Procter & Gamble Company (The) (NYSE:PG – Free Report) in the second quarter, HoldingsChannel reports. The fund bought 12,137 shares of the company’s stock, valued at approximately $1,780,000.
A number of other hedge funds have also recently added to or reduced their stakes in PG. Vanguard Group Inc. boosted its holdings in shares of Procter & Gamble by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 237,459,756 shares of the company’s stock valued at $34,030,358,000 after acquiring an additional 2,829,151 shares during the period. State Street Corp grew its position in shares of Procter & Gamble by 1.0% during the fourth quarter. State Street Corp now owns 101,618,926 shares of the company’s stock worth $14,563,008,000 after acquiring an additional 984,102 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Procter & Gamble by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 62,647,882 shares of the company’s stock valued at $8,962,689,000 after acquiring an additional 1,974,556 shares during the period. Norges Bank purchased a new stake in Procter & Gamble in the 4th quarter valued at $4,664,783,000. Finally, Price T Rowe Associates Inc. MD raised its position in Procter & Gamble by 3.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,612,826 shares of the company’s stock valued at $4,243,815,000 after purchasing an additional 1,091,091 shares during the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.
Procter & Gamble Stock Performance
NYSE PG opened at $144.47 on Thursday. The business has a 50 day moving average price of $147.94 and a 200 day moving average price of $148.78. The company has a market capitalization of $335.82 billion, a P/E ratio of 21.82, a PEG ratio of 4.42 and a beta of 0.39. Procter & Gamble Company has a 1-year low of $137.62 and a 1-year high of $167.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.68 and a quick ratio of 0.47.
Procter & Gamble Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, July 24th were paid a $1.0885 dividend. This represents a $4.35 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Friday, July 24th. Procter & Gamble’s dividend payout ratio is presently 65.71%.
Wall Street Analyst Weigh In
PG has been the topic of several research reports. Evercore set a $162.00 price objective on shares of Procter & Gamble in a research report on Monday, April 27th. Morgan Stanley reduced their target price on shares of Procter & Gamble from $175.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday, April 22nd. TD Cowen raised their price target on Procter & Gamble from $142.00 to $150.00 and gave the stock a “hold” rating in a report on Monday, April 27th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $163.00 price target on shares of Procter & Gamble in a research report on Monday, April 27th. Finally, Barclays upped their price objective on Procter & Gamble from $146.00 to $152.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $161.52.
Check Out Our Latest Stock Analysis on Procter & Gamble
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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