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

Morey & Quinn Wealth Partners LLC purchased a new stake in shares of The Procter & Gamble Company (NYSE:PG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,837 shares of the company's stock, valued at approximately $476,000.

A number of other hedge funds have also modified their holdings of the company. NewSquare Capital LLC lifted its holdings in Procter & Gamble by 933.3% in the 4th quarter. NewSquare Capital LLC now owns 155 shares of the company's stock worth $26,000 after purchasing an additional 140 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new position in shares of Procter & Gamble in the third quarter worth $33,000. LFA Lugano Financial Advisors SA bought a new position in shares of Procter & Gamble during the fourth quarter worth $34,000. Atlantic Private Wealth LLC grew its stake in Procter & Gamble by 95.3% during the fourth quarter. Atlantic Private Wealth LLC now owns 207 shares of the company's stock valued at $35,000 after acquiring an additional 101 shares in the last quarter. Finally, Noble Wealth Management PBC bought a new stake in Procter & Gamble in the 4th quarter valued at $39,000. 65.77% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Marc S. Pritchard sold 90,450 shares of the company's stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total transaction 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. This represents a 34.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gary A. Coombe sold 18,000 shares of Procter & Gamble stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 22,051 shares of the company's stock, valued at approximately $3,785,274.66. This trade represents a 44.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 143,450 shares of company stock valued at $23,988,008. 0.18% of the stock is currently owned by company insiders.

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Wall Street Analyst Weigh In

A number of brokerages recently commented on PG. Barclays reissued an "equal weight" rating on shares of Procter & Gamble in a research note on Thursday. 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 report on Monday, February 24th. JPMorgan Chase & Co. lowered their price objective on shares of Procter & Gamble from $186.00 to $181.00 and set an "overweight" rating for the company in a research report on Thursday, January 16th. Erste Group Bank upgraded shares of Procter & Gamble from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. Finally, Wells Fargo & Company increased their price target on shares of Procter & Gamble from $176.00 to $180.00 and gave the company an "overweight" rating in a report on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Procter & Gamble currently has an average rating of "Moderate Buy" and an average target price of $181.82.

Procter & Gamble Price Performance

NYSE PG traded down $0.58 during trading hours on Friday, hitting $168.13. 3,006,678 shares of the company's stock traded hands, compared to its average volume of 7,697,393. 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's 50-day moving average is $168.47 and its 200-day moving average is $169.46. The Procter & Gamble Company has a 52-week low of $153.52 and a 52-week high of $180.43. The company has a market capitalization of $394.23 billion, a PE ratio of 26.76, a PEG ratio of 3.76 and a beta of 0.41.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.86 by $0.02. The business had revenue of $21.88 billion during the quarter, compared to the consensus estimate of $21.66 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The company's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the company earned $1.84 EPS. Equities analysts forecast that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th were issued a dividend of $1.0065 per share. The ex-dividend date was Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.39%. Procter & Gamble's dividend payout ratio is currently 64.01%.

About Procter & Gamble

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.