Modern Wealth Management LLC lifted its position in The Procter & Gamble Company (NYSE:PG - Free Report) by 26.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 55,260 shares of the company's stock after purchasing an additional 11,540 shares during the period. Modern Wealth Management LLC's holdings in Procter & Gamble were worth $9,258,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of PG. CoreFirst Bank & Trust bought a new position in shares of Procter & Gamble during the fourth quarter valued at approximately $2,278,000. Sequent Planning LLC raised its position in shares of Procter & Gamble by 18.9% in the 4th quarter. Sequent Planning LLC now owns 3,774 shares of the company's stock worth $633,000 after acquiring an additional 600 shares in the last quarter. Jackson Thornton Wealth Management LLC lifted its stake in shares of Procter & Gamble by 52.0% during the 4th quarter. Jackson Thornton Wealth Management LLC now owns 1,835 shares of the company's stock worth $308,000 after purchasing an additional 628 shares during the last quarter. United Services Automobile Association boosted its position in Procter & Gamble by 3.5% during the fourth quarter. United Services Automobile Association now owns 345,175 shares of the company's stock valued at $57,869,000 after purchasing an additional 11,540 shares in the last quarter. Finally, Dillon & Associates Inc. raised its holdings in Procter & Gamble by 0.5% in the fourth quarter. Dillon & Associates Inc. now owns 20,373 shares of the company's stock worth $3,423,000 after purchasing an additional 109 shares in the last quarter. Institutional investors own 65.77% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the stock. DA Davidson restated a "buy" rating and issued a $209.00 price target on shares of Procter & Gamble in a report on Thursday, January 23rd. Barclays lifted their price target on shares of Procter & Gamble from $159.00 to $165.00 and gave the stock an "equal weight" rating in a report on Thursday. Stifel Nicolaus increased their price objective on Procter & Gamble from $161.00 to $165.00 and gave the company a "hold" rating in a report on Thursday, January 23rd. Erste Group Bank upgraded Procter & Gamble from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Finally, UBS Group reiterated a "buy" rating on shares of Procter & Gamble in a research note on Monday, February 10th. Seven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $181.82.
Check Out Our Latest Report on PG
Procter & Gamble Stock Performance
Shares of PG stock traded up $1.40 on Thursday, hitting $167.98. The company had a trading volume of 2,457,821 shares, compared to its average volume of 6,469,082. The firm has a market cap of $393.89 billion, a P/E ratio of 26.75, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a twelve month low of $153.52 and a twelve month high of $180.43. The company has a 50-day moving average price of $168.31 and a 200-day moving average price of $169.47. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50.
Procter & Gamble (NYSE:PG - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The company reported $1.88 EPS 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 business had revenue of $21.88 billion for the quarter, compared to analyst estimates of $21.66 billion. During the same quarter in the prior year, the firm posted $1.84 EPS. The business's quarterly revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts predict that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.
Procter & Gamble Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th were paid a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Friday, January 24th. Procter & Gamble's payout ratio is currently 64.01%.
Insider Activity
In other news, insider Marc S. Pritchard sold 90,450 shares of Procter & Gamble stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total value of $14,819,328.00. Following the sale, the insider now directly owns 172,814 shares of the company's stock, valued at $28,313,845.76. The trade was a 34.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gary A. Coombe sold 35,000 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the completion of the sale, the chief executive officer now owns 22,051 shares of the company's stock, valued at $3,829,817.68. This trade represents a 61.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 143,450 shares of company stock worth $23,988,008 in the last ninety days. Company insiders own 0.18% of the company's stock.
Procter & Gamble Company Profile
(
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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