Birmingham Capital Management Co. Inc. AL decreased its stake in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 1.2% during the second quarter, HoldingsChannel reports. The firm owned 51,747 shares of the company’s stock after selling 646 shares during the quarter. Procter & Gamble accounts for approximately 3.3% of Birmingham Capital Management Co. Inc. AL’s holdings, making the stock its 6th biggest position. Birmingham Capital Management Co. Inc. AL’s holdings in Procter & Gamble were worth $8,534,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Itau Unibanco Holding S.A. purchased a new position in Procter & Gamble during the second quarter valued at $28,000. Fairway Wealth LLC purchased a new position in Procter & Gamble during the 2nd quarter valued at about $29,000. Transcendent Capital Group LLC purchased a new stake in Procter & Gamble in the fourth quarter worth about $31,000. Ruedi Wealth Management Inc. increased its stake in shares of Procter & Gamble by 64.7% during the first quarter. Ruedi Wealth Management Inc. now owns 196 shares of the company’s stock valued at $32,000 after purchasing an additional 77 shares in the last quarter. Finally, POM Investment Strategies LLC purchased a new position in shares of Procter & Gamble during the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.
Procter & Gamble Trading Down 0.1 %
Shares of Procter & Gamble stock opened at $173.07 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.53. The stock has a market capitalization of $408.47 billion, a PE ratio of 28.28, a P/E/G ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a 1-year low of $141.45 and a 1-year high of $177.94. The company’s fifty day simple moving average is $171.01 and its 200-day simple moving average is $166.36.
Procter & Gamble Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were issued a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a yield of 2.33%. The ex-dividend date was Friday, July 19th. Procter & Gamble’s dividend payout ratio is currently 65.69%.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on PG. Piper Sandler started coverage on Procter & Gamble in a research report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price objective for the company. Evercore ISI upped their price target on shares of Procter & Gamble from $177.00 to $183.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. TD Cowen assumed coverage on shares of Procter & Gamble in a report on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 target price for the company. BNP Paribas assumed coverage on shares of Procter & Gamble in a report on Monday, June 24th. They set an “outperform” rating and a $187.00 price target on the stock. Finally, DZ Bank raised Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price objective on the stock in a research report on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $175.89.
Insiders Place Their Bets
In related news, CEO Jon R. Moeller sold 37,240 shares of Procter & Gamble stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $168.89, for a total transaction of $6,289,463.60. Following the transaction, the chief executive officer now owns 263,537 shares in the company, valued at approximately $44,508,763.93. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Ma. Fatima Francisco sold 96,000 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $170.00, for a total transaction of $16,320,000.00. Following the completion of the sale, the chief executive officer now owns 13,721 shares in the company, valued at $2,332,570. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jon R. Moeller sold 37,240 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $168.89, for a total value of $6,289,463.60. Following the completion of the transaction, the chief executive officer now directly owns 263,537 shares in the company, valued at $44,508,763.93. The disclosure for this sale can be found here. Insiders sold a total of 375,553 shares of company stock worth $63,829,141 over the last three months. 0.17% of the stock is currently 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.
Featured Stories
- Five stocks we like better than Procter & Gamble
- Stock Analyst Ratings and Canadian Analyst Ratings
- Why Lennar Stock Could Be the Best Play in the Housing Market
- 3 Healthcare Dividend Stocks to Buy
- 2 Energy Stocks Fueling the AI Datacenter Boom
- Following Congress Stock Trades
- Will Marinus Pharmaceuticals Be the Next Big Winner in Biotech?
Want to see what other hedge funds are holding PG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Procter & Gamble Company (NYSE:PG – Free Report).
Receive News & Ratings for Procter & Gamble Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Procter & Gamble and related companies with MarketBeat.com's FREE daily email newsletter.