Cove Private Wealth LLC Acquires New Stake in The Procter & Gamble Company (NYSE:PG)

Cove Private Wealth LLC purchased a new position in shares of The Procter & Gamble Company (NYSE:PG) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 1,800 shares of the company’s stock, valued at approximately $264,000.

Other large investors have also recently bought and sold shares of the company. Advantage Trust Co acquired a new stake in Procter & Gamble during the 4th quarter worth about $28,000. Wyrmwood Management LLC bought a new position in shares of Procter & Gamble during the 4th quarter worth about $29,000. Naples Money Management LLC bought a new position in shares of Procter & Gamble during the 4th quarter worth about $29,000. Transcendent Capital Group LLC bought a new position in shares of Procter & Gamble during the 4th quarter worth about $31,000. Finally, Criterion Capital Advisors LLC bought a new position in shares of Procter & Gamble during the 4th quarter worth about $33,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Procter & Gamble from $172.00 to $171.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. StockNews.com cut shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Monday. Barclays raised their price target on shares of Procter & Gamble from $168.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, April 23rd. Truist Financial raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and raised their price target for the company from $160.00 to $175.00 in a research report on Monday, March 11th. Finally, Argus raised their price target on shares of Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $169.76.

Procter & Gamble Trading Up 0.4 %

Shares of PG stock opened at $167.50 on Tuesday. The company has a 50 day moving average of $163.63 and a 200-day moving average of $157.64. The company has a quick ratio of 0.48, a current ratio of 0.69 and a debt-to-equity ratio of 0.49. The Procter & Gamble Company has a 12-month low of $141.45 and a 12-month high of $168.97. The firm has a market cap of $395.32 billion, a P/E ratio of 27.37, a PEG ratio of 3.39 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Friday, April 19th. The company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.10. Procter & Gamble had a net margin of 18.00% and a return on equity of 33.91%. The company had revenue of $20.20 billion during the quarter, compared to analyst estimates of $20.43 billion. During the same quarter last year, the business posted $1.37 EPS. Procter & Gamble’s quarterly revenue was up .6% compared to the same quarter last year. Sell-side analysts anticipate that The Procter & Gamble Company will post 6.55 earnings per share for the current year.

Procter & Gamble Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Friday, April 19th were paid a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a yield of 2.40%. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.94. The ex-dividend date was Thursday, April 18th. Procter & Gamble’s payout ratio is currently 65.85%.

Insider Activity at Procter & Gamble

In related news, insider Balaji Purushothaman sold 28,369 shares of Procter & Gamble stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $161.49, for a total value of $4,581,309.81. Following the completion of the transaction, the insider now directly owns 11,507 shares in the company, valued at approximately $1,858,265.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Moses Victor Javier Aguilar sold 9,149 shares of Procter & Gamble stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $167.72, for a total value of $1,534,470.28. Following the completion of the transaction, the insider now directly owns 12,929 shares in the company, valued at approximately $2,168,451.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Balaji Purushothaman sold 28,369 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $161.49, for a total transaction of $4,581,309.81. Following the transaction, the insider now owns 11,507 shares of the company’s stock, valued at $1,858,265.43. The disclosure for this sale can be found here. In the last ninety days, insiders sold 154,544 shares of company stock worth $25,413,051. Corporate insiders own 0.17% of the company’s stock.

Procter & Gamble Company Profile

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.