Riverbend Wealth Management LLC Takes Position in The Procter & Gamble Company (NYSE:PG)

Riverbend Wealth Management LLC acquired a new position in shares of The Procter & Gamble Company (NYSE:PG - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,533 shares of the company's stock, valued at approximately $764,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Lakeridge Wealth Management LLC raised its holdings in shares of Procter & Gamble by 0.6% during the fourth quarter. Lakeridge Wealth Management LLC now owns 10,807 shares of the company's stock worth $1,812,000 after acquiring an additional 60 shares in the last quarter. Colton Groome Financial Advisors LLC increased its position in Procter & Gamble by 3.2% during the fourth quarter. Colton Groome Financial Advisors LLC now owns 1,995 shares of the company's stock worth $334,000 after buying an additional 62 shares during the last quarter. Tevis Investment Management increased its position in Procter & Gamble by 0.6% during the fourth quarter. Tevis Investment Management now owns 11,633 shares of the company's stock worth $1,950,000 after buying an additional 65 shares during the last quarter. Dakota Community Bank & Trust NA increased its position in Procter & Gamble by 3.3% during the fourth quarter. Dakota Community Bank & Trust NA now owns 2,078 shares of the company's stock worth $348,000 after buying an additional 66 shares during the last quarter. Finally, Alhambra Investment Management LLC increased its position in Procter & Gamble by 1.2% during the fourth quarter. Alhambra Investment Management LLC now owns 5,785 shares of the company's stock worth $970,000 after buying an additional 66 shares during the last quarter. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

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Procter & Gamble Trading Down 1.8 %

PG traded down $3.19 during trading on Tuesday, reaching $173.07. 11,030,875 shares of the company's stock were exchanged, compared to its average volume of 6,404,080. The company's fifty day moving average price is $167.14 and its 200-day moving average price is $169.84. 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 Procter & Gamble Company has a fifty-two week low of $153.52 and a fifty-two week high of $180.43. The firm has a market capitalization of $405.83 billion, a PE ratio of 27.56, a P/E/G ratio of 3.76 and a beta of 0.41.

Procter & Gamble (NYSE:PG - Get Free Report) last released its earnings results on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, topping analysts' consensus estimates of $1.86 by $0.02. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The firm had revenue of $21.88 billion during the quarter, compared to analyst estimates of $21.66 billion. During the same quarter in the previous year, the business earned $1.84 EPS. The business's quarterly revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts forecast that The Procter & Gamble Company will post 6.91 EPS for the current 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 $1.0065 dividend. This represents a $4.03 annualized dividend and a dividend yield of 2.33%. The ex-dividend date was Friday, January 24th. Procter & Gamble's dividend payout ratio (DPR) is 64.01%.

Insider Activity

In other news, insider Marc S. Pritchard sold 90,450 shares of the business's stock in a transaction on 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 completion of the transaction, the insider now owns 172,814 shares of the company's stock, valued at $28,313,845.76. The trade was a 34.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gary A. Coombe sold 35,000 shares of the business's stock in a transaction on 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 directly owns 22,051 shares in the company, valued at $3,829,817.68. This represents a 61.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 143,450 shares of company stock valued at $23,988,008 in the last quarter. Company insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PG. UBS Group reaffirmed a "buy" rating on shares of Procter & Gamble in a research report on Monday, February 10th. Stifel Nicolaus lifted their target price on Procter & Gamble from $161.00 to $165.00 and gave the stock a "hold" rating in a research report on Thursday, January 23rd. Wells Fargo & Company lifted their target price on Procter & Gamble from $176.00 to $180.00 and gave the stock an "overweight" rating in a research report on Thursday, January 23rd. Piper Sandler decreased their target price on Procter & Gamble from $173.00 to $172.00 and set a "neutral" rating on the stock in a research report on Monday, February 24th. Finally, Barclays lifted their target price on Procter & Gamble from $155.00 to $159.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Procter & Gamble has a consensus rating of "Moderate Buy" and a consensus target price of $181.11.

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.