Empirical Asset Management LLC raised its stake in shares of The Procter & Gamble Company (NYSE:PG - Free Report) by 136.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 88,305 shares of the company's stock after buying an additional 51,002 shares during the period. Empirical Asset Management LLC's holdings in Procter & Gamble were worth $14,804,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC raised its position in Procter & Gamble by 7.0% in the third quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company's stock worth $9,538,327,000 after acquiring an additional 3,619,466 shares during the period. FMR LLC raised its holdings in Procter & Gamble by 2.7% in the 3rd quarter. FMR LLC now owns 26,556,319 shares of the company's stock worth $4,599,554,000 after purchasing an additional 689,282 shares during the period. Legal & General Group Plc grew its holdings in Procter & Gamble by 0.6% during the second quarter. Legal & General Group Plc now owns 21,632,054 shares of the company's stock valued at $3,567,556,000 after purchasing an additional 122,190 shares during the period. Franklin Resources Inc. increased its position in Procter & Gamble by 10.2% in the third quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company's stock worth $3,290,573,000 after buying an additional 1,760,214 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Procter & Gamble by 4.7% in the third quarter. Fisher Asset Management LLC now owns 18,380,610 shares of the company's stock worth $3,183,522,000 after buying an additional 830,476 shares during the period. 65.77% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, insider Balaji Purushothaman sold 12,800 shares of the company's stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the transaction, the insider now owns 11,566 shares of the company's stock, valued at approximately $1,954,538.34. This represents a 52.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO R. Alexandra Keith sold 1,992 shares of the business's stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $170.00, for a total value of $338,640.00. Following the transaction, the chief executive officer now owns 13,783 shares of the company's stock, valued at approximately $2,343,110. The trade was a 12.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,439 shares of company stock valued at $13,317,460 over the last three months. 0.18% of the stock is owned by company insiders.
Analyst Ratings Changes
A number of research analysts recently issued reports on PG shares. Piper Sandler started coverage on Procter & Gamble in a research note on Tuesday, September 24th. They set a "neutral" rating and a $174.00 price objective for the company. Barclays reduced their price objective on shares of Procter & Gamble from $163.00 to $155.00 and set an "equal weight" rating for the company in a research note on Friday. Royal Bank of Canada restated a "sector perform" rating and set a $164.00 price objective on shares of Procter & Gamble in a research report on Monday, October 21st. Evercore ISI upped their target price on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an "outperform" rating in a report on Monday, October 21st. Finally, Stifel Nicolaus decreased their price target on Procter & Gamble from $167.00 to $161.00 and set a "hold" rating on the stock in a report on Friday. Eight investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $179.65.
Read Our Latest Analysis on PG
Procter & Gamble Price Performance
Shares of Procter & Gamble stock traded up $0.85 during trading hours on Friday, reaching $161.35. The company's stock had a trading volume of 7,218,206 shares, compared to its average volume of 5,628,331. The firm has a 50 day moving average price of $169.32 and a 200-day moving average price of $169.39. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55. The stock has a market cap of $379.98 billion, a P/E ratio of 27.82, a P/E/G ratio of 3.41 and a beta of 0.45. The Procter & Gamble Company has a one year low of $146.28 and a one year high of $180.43.
Procter & Gamble (NYSE:PG - Get Free Report) last issued its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.90 by $0.03. The business had revenue of $21.74 billion for the quarter, compared to the consensus estimate of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The company's quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.83 earnings per share. On average, analysts predict that The Procter & Gamble Company will post 6.93 EPS for the current year.
Procter & Gamble Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Friday, January 24th will be given a $1.0065 dividend. The ex-dividend date of this dividend is Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a yield of 2.50%. Procter & Gamble's dividend payout ratio is presently 69.48%.
Procter & Gamble Profile
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Free Report)
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.
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