Franklin Resources Inc. lifted its holdings in The Procter & Gamble Company (NYSE:PG - Free Report) by 6.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,197,996 shares of the company's stock after acquiring an additional 1,209,275 shares during the quarter. Procter & Gamble makes up approximately 0.9% of Franklin Resources Inc.'s holdings, making the stock its 15th largest holding. Franklin Resources Inc. owned about 0.86% of Procter & Gamble worth $3,386,194,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Procter & Gamble by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 229,794,073 shares of the company's stock valued at $38,524,976,000 after acquiring an additional 1,592,061 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Procter & Gamble by 7.0% during the 3rd quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company's stock worth $9,538,327,000 after purchasing an additional 3,619,466 shares in the last quarter. Norges Bank bought a new position in shares of Procter & Gamble in the fourth quarter valued at $5,244,463,000. Fisher Asset Management LLC increased its holdings in Procter & Gamble by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 18,692,813 shares of the company's stock worth $3,133,850,000 after buying an additional 312,203 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Procter & Gamble by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 16,881,907 shares of the company's stock worth $2,830,252,000 after acquiring an additional 459,437 shares in the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on the stock. UBS Group reaffirmed a "buy" rating on shares of Procter & Gamble in a report on Monday, February 10th. Erste Group Bank upgraded Procter & Gamble from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Stifel Nicolaus increased their price target on Procter & Gamble from $161.00 to $165.00 and gave the company a "hold" rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Procter & Gamble from $186.00 to $181.00 and set an "overweight" rating on the stock in a report on Thursday, January 16th. Finally, Piper Sandler cut their target price on shares of Procter & Gamble from $173.00 to $172.00 and set a "neutral" rating for the company in a research note on Monday, February 24th. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Procter & Gamble currently has an average rating of "Moderate Buy" and an average target price of $181.82.
Get Our Latest Research Report on PG
Procter & Gamble Trading Up 0.1 %
Shares of NYSE PG traded up $0.19 during midday trading on Tuesday, reaching $170.61. The stock had a trading volume of 7,020,948 shares, compared to its average volume of 6,911,949. The Procter & Gamble Company has a twelve month low of $153.52 and a twelve month high of $180.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76. The company's 50 day moving average price is $168.79 and its 200 day moving average price is $169.29. The firm has a market cap of $400.05 billion, a price-to-earnings ratio of 27.17, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41.
Procter & Gamble (NYSE:PG - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.02. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The firm had revenue of $21.88 billion during the quarter, compared to analyst estimates of $21.66 billion. During the same period last year, the company posted $1.84 EPS. The business's quarterly revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts expect that The Procter & Gamble Company will post 6.91 EPS for the current year.
Procter & Gamble Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th were given a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Friday, January 24th. Procter & Gamble's dividend payout ratio (DPR) is 64.01%.
Insider Buying and Selling
In related news, CEO Gary A. Coombe sold 18,000 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $171.66, for a total value of $3,089,880.00. Following the sale, the chief executive officer now owns 22,051 shares in the company, valued at $3,785,274.66. This represents a 44.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Marc S. Pritchard sold 90,450 shares of Procter & Gamble stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total value of $14,819,328.00. Following the transaction, the insider now owns 172,814 shares of the company's stock, valued at $28,313,845.76. This trade represents a 34.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 143,450 shares of company stock valued at $23,988,008 over the last ninety days. 0.18% of the stock is owned by corporate insiders.
About Procter & Gamble
(
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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