Spire Wealth Management Purchases 3,529 Shares of Procter & Gamble Company (The) (NYSE:PG)

Spire Wealth Management increased its position in Procter & Gamble Company (The) (NYSE:PG) by 5.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,686 shares of the company’s stock after purchasing an additional 3,529 shares during the period. Spire Wealth Management’s holdings in Procter & Gamble were worth $12,046,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Unique Wealth LLC increased its position in shares of Procter & Gamble by 2.9% during 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. Stableford Capital II LLC grew its stake in shares of Procter & Gamble by 1.1% during the 1st quarter. Stableford Capital II LLC now owns 5,817 shares of the company’s stock valued at $993,000 after acquiring an additional 61 shares during the period. Bernard Wealth Management Corp. grew its stake in shares of Procter & Gamble by 20.2% during the 1st quarter. Bernard Wealth Management Corp. now owns 375 shares of the company’s stock valued at $64,000 after acquiring an additional 63 shares during the period. Kolinsky Wealth Management LLC grew its stake in shares of Procter & Gamble by 1.1% during the 4th quarter. Kolinsky Wealth Management LLC now owns 5,738 shares of the company’s stock valued at $962,000 after acquiring an additional 64 shares during the period. Finally, Retirement Planning Group LLC grew its stake in shares of Procter & Gamble by 1.4% during the 4th quarter. Retirement Planning Group LLC now owns 4,704 shares of the company’s stock valued at $789,000 after acquiring an additional 64 shares during the period. Institutional investors own 65.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PG. Piper Sandler boosted their price objective on Procter & Gamble from $160.00 to $164.00 and gave the company a “neutral” rating in a research note on Monday, May 5th. Redburn Partners set a $161.00 price objective on Procter & Gamble in a research note on Thursday, May 1st. JPMorgan Chase & Co. cut their price objective on Procter & Gamble from $181.00 to $172.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Bank of America dropped their price target on Procter & Gamble from $190.00 to $180.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Finally, Morgan Stanley set a $180.00 price target on Procter & Gamble and gave the stock an “overweight” rating in a research note on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $178.45.

Procter & Gamble Stock Performance

NYSE:PG opened at $159.03 on Thursday. The stock’s fifty day moving average is $162.88 and its 200 day moving average is $165.83. Procter & Gamble Company has a fifty-two week low of $156.58 and a fifty-two week high of $180.43. The firm has a market capitalization of $372.85 billion, a PE ratio of 25.24, a PEG ratio of 4.73 and a beta of 0.43. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.71.

Procter & Gamble (NYSE:PG) last released its quarterly 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 32.67% and a net margin of 18.46%. The company had revenue of $19.78 billion for the quarter, compared to analyst estimates of $20.42 billion. During the same quarter in the prior year, the firm posted $1.52 EPS. Procter & Gamble’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, April 21st were issued a dividend of $1.0568 per share. This represents a $4.23 annualized dividend and a yield of 2.66%. The ex-dividend date was Monday, April 21st. This is a positive change from Procter & Gamble’s previous quarterly dividend of $1.01. Procter & Gamble’s dividend payout ratio is presently 67.14%.

Insiders Place Their Bets

In other Procter & Gamble news, insider Moses Victor Javier Aguilar sold 10,520 shares of the stock in a transaction 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 sale, the insider now owns 25,182 shares in the company, valued at $3,995,627.94. This trade represents a 29.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jennifer L. Davis sold 1,000 shares of the stock in a transaction on Tuesday, April 29th. The stock was 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 owns 51,965 shares in the company, valued at approximately $8,386,111.70. The trade was a 1.89% decrease in their position. The disclosure for this sale can be found here. 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.