Morey & Quinn Wealth Partners LLC Boosts Stock Position in The Procter & Gamble Company (NYSE:PG)

Morey & Quinn Wealth Partners LLC grew its holdings in The Procter & Gamble Company (NYSE:PG) by 3.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,937 shares of the company’s stock after buying an additional 100 shares during the quarter. Morey & Quinn Wealth Partners LLC’s holdings in Procter & Gamble were worth $501,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PG. Lakeridge Wealth Management LLC lifted its stake in shares of Procter & Gamble by 0.6% in the 4th quarter. Lakeridge Wealth Management LLC now owns 10,807 shares of the company’s stock valued at $1,812,000 after purchasing an additional 60 shares during the last quarter. Unique Wealth LLC lifted its stake in shares of Procter & Gamble by 2.9% in the 1st quarter. Unique Wealth LLC now owns 2,141 shares of the company’s stock valued at $365,000 after purchasing an additional 61 shares during the last quarter. Bernard Wealth Management Corp. lifted its stake in shares of Procter & Gamble by 20.2% in the 1st quarter. Bernard Wealth Management Corp. now owns 375 shares of the company’s stock valued at $64,000 after purchasing an additional 63 shares during the last quarter. Kolinsky Wealth Management LLC lifted its stake in Procter & Gamble by 1.1% during the 4th quarter. Kolinsky Wealth Management LLC now owns 5,738 shares of the company’s stock worth $962,000 after acquiring an additional 64 shares in the last quarter. Finally, Retirement Planning Group LLC lifted its stake in Procter & Gamble by 1.4% during the 4th quarter. Retirement Planning Group LLC now owns 4,704 shares of the company’s stock worth $789,000 after acquiring an additional 64 shares in the last quarter. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PG has been the topic of several research reports. 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 note on Friday, April 25th. 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 note on Thursday, May 1st. Piper Sandler increased their target price on Procter & Gamble from $160.00 to $164.00 and gave the stock a “neutral” rating in a research note on Monday, May 5th. Erste Group Bank lowered Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 30th. Finally, 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 note on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $178.86.

Procter & Gamble Price Performance

PG stock opened at $160.06 on Friday. 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 capitalization 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 business’s 50-day moving average is $163.75 and its two-hundred day moving average is $166.73. The Procter & Gamble Company has a 1 year low of $156.58 and a 1 year high of $180.43.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Thursday, April 24th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.01. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The business had revenue of $19.78 billion for the quarter, compared to the consensus estimate of $20.42 billion. During the same quarter in the prior year, the business posted $1.52 EPS. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. Analysts anticipate that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The firm 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. The ex-dividend date of this dividend was Monday, April 21st. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.64%. This is an increase from Procter & Gamble’s previous quarterly dividend of $1.01. Procter & Gamble’s dividend payout ratio is presently 66.98%.

Insider Activity

In related news, CEO Jennifer L. Davis sold 1,000 shares of the firm’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 transaction of $161,380.00. Following 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 position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the firm’s 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 transaction, the insider now owns 25,182 shares in the company, valued at $3,995,627.94. This represents 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 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.