Morris Financial Concepts Inc. Has $436,000 Holdings in The Procter & Gamble Company (NYSE:PG)

Morris Financial Concepts Inc. trimmed its position in shares of The Procter & Gamble Company (NYSE:PG) by 12.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,684 shares of the company’s stock after selling 397 shares during the quarter. Morris Financial Concepts Inc.’s holdings in Procter & Gamble were worth $436,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Procter & Gamble in the 4th quarter worth about $3,956,117,000. Cerity Partners LLC increased its holdings in Procter & Gamble by 106.2% during the 4th quarter. Cerity Partners LLC now owns 6,134,455 shares of the company’s stock worth $898,943,000 after purchasing an additional 3,159,796 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Procter & Gamble by 9.4% in the third quarter. Wellington Management Group LLP now owns 35,608,913 shares of the company’s stock worth $5,193,916,000 after purchasing an additional 3,047,557 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Procter & Gamble by 13,850.3% in the fourth quarter. International Assets Investment Management LLC now owns 2,747,379 shares of the company’s stock valued at $402,601,000 after purchasing an additional 2,727,685 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Procter & Gamble by 235.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,231,032 shares of the company’s stock valued at $473,475,000 after buying an additional 2,268,805 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors.

Procter & Gamble Price Performance

NYSE PG opened at $162.72 on Tuesday. 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 company has a market cap of $384.04 billion, a PE ratio of 26.59, a price-to-earnings-growth ratio of 3.35 and a beta of 0.41. The Procter & Gamble Company has a 52 week low of $141.45 and a 52 week high of $169.41. The firm’s 50-day simple moving average is $165.60 and its two-hundred day simple moving average is $158.89.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Friday, April 19th. The company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.10. The company had revenue of $20.20 billion for the quarter, compared to analysts’ expectations of $20.43 billion. Procter & Gamble had a net margin of 18.00% and a return on equity of 33.91%. During the same period in the prior year, the company posted $1.37 EPS. Procter & Gamble’s revenue was up .6% compared to the same quarter last year. Research analysts predict that The Procter & Gamble Company will post 6.55 earnings per share for the current year.

Procter & Gamble Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th were issued a $1.0065 dividend. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.94. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend was Thursday, April 18th. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.85%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PG. BNP Paribas initiated coverage on Procter & Gamble in a research note on Monday, June 24th. They set an “outperform” rating and a $187.00 price objective on the stock. Truist Financial raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and upped their price objective for the stock from $160.00 to $175.00 in a research report on Monday, March 11th. Jefferies Financial Group increased their price objective on shares of Procter & Gamble from $175.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Deutsche Bank Aktiengesellschaft cut their target price on Procter & Gamble from $172.00 to $171.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Finally, Barclays increased their price target on Procter & Gamble from $168.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, April 23rd. Six equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Procter & Gamble presently has an average rating of “Moderate Buy” and a consensus target price of $170.72.

Insider Activity at Procter & Gamble

In other news, CEO Sundar G. Raman sold 31,924 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $166.95, for a total value of $5,329,711.80. Following the sale, the chief executive officer now directly owns 19,042 shares of the company’s stock, valued at $3,179,061.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Sundar G. Raman sold 31,924 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $166.95, for a total transaction of $5,329,711.80. Following the completion of the transaction, the chief executive officer now directly owns 19,042 shares in the company, valued at approximately $3,179,061.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Shailesh Jejurikar sold 31,000 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $162.90, for a total value of $5,049,900.00. Following the completion of the sale, the chief operating officer now owns 9,739 shares in the company, valued at approximately $1,586,483.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 154,544 shares of company stock worth $25,413,051. 0.17% of the stock is owned by company insiders.

Procter & Gamble 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.