Morton Capital Management LLC CA Buys 1,332 Shares of The Procter & Gamble Company (NYSE:PG)

Morton Capital Management LLC CA grew its stake in shares of The Procter & Gamble Company (NYSE:PG) by 19.6% during the third quarter, HoldingsChannel reports. The firm owned 8,113 shares of the company’s stock after purchasing an additional 1,332 shares during the quarter. Morton Capital Management LLC CA’s holdings in Procter & Gamble were worth $1,405,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new position in shares of Procter & Gamble in the 2nd quarter worth about $28,000. Fairway Wealth LLC purchased a new stake in Procter & Gamble in the second quarter worth about $29,000. 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. POM Investment Strategies LLC purchased a new position in shares of Procter & Gamble during the second quarter valued at approximately $34,000. Finally, Transcendent Capital Group LLC bought a new stake in shares of Procter & Gamble in the 4th quarter worth approximately $31,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PG has been the topic of several analyst reports. StockNews.com downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Piper Sandler began coverage on Procter & Gamble in a report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price target on the stock. TD Cowen started coverage on shares of Procter & Gamble in a report on Tuesday, July 23rd. They set a “buy” rating and a $189.00 target price for the company. Hsbc Global Res raised Procter & Gamble to a “strong-buy” rating in a report on Friday, October 4th. 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 note on Thursday, August 29th. Ten research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $175.05.

Procter & Gamble Price Performance

Procter & Gamble stock opened at $169.18 on Thursday. The Procter & Gamble Company has a 52-week low of $141.66 and a 52-week high of $177.94. The company has a quick ratio of 0.53, a current ratio of 0.73 and a debt-to-equity ratio of 0.51. The firm’s fifty day moving average is $171.39 and its 200 day moving average is $166.65. The company has a market cap of $399.29 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 3.73 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last announced its earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.03. The firm had revenue of $20.53 billion for the quarter, compared to analysts’ expectations of $20.69 billion. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The business’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.37 EPS. Sell-side analysts forecast that The Procter & Gamble Company will post 6.97 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 18th will be given a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Friday, October 18th. Procter & Gamble’s dividend payout ratio is currently 65.69%.

Insider Activity at Procter & Gamble

In related news, insider Susan Street Whaley sold 450 shares of Procter & Gamble stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $169.22, for a total transaction of $76,149.00. Following the completion of the transaction, the insider now directly owns 13,072 shares of the company’s stock, valued at approximately $2,212,043.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO R. Alexandra Keith sold 3,373 shares of Procter & Gamble stock in a transaction on Monday, August 5th. The stock was sold at an average price of $170.00, for a total transaction of $573,410.00. Following the completion of the sale, the chief executive officer now directly owns 21,513 shares in the company, valued at approximately $3,657,210. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Susan Street Whaley sold 450 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $169.22, for a total transaction of $76,149.00. Following the completion of the transaction, the insider now owns 13,072 shares in the company, valued at approximately $2,212,043.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 383,194 shares of company stock worth $65,140,718. Company insiders own 0.17% of the company’s stock.

About Procter & Gamble

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company 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, SK-II, and Native brands.