NewEdge Advisors LLC Boosts Stake in The Procter & Gamble Company (NYSE:PG)

NewEdge Advisors LLC raised its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 5.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 253,210 shares of the company’s stock after buying an additional 13,785 shares during the period. NewEdge Advisors LLC’s holdings in Procter & Gamble were worth $41,760,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Gilbert & Cook Inc. grew its stake in Procter & Gamble by 7.7% in the fourth quarter. Gilbert & Cook Inc. now owns 17,215 shares of the company’s stock worth $2,523,000 after purchasing an additional 1,237 shares in the last quarter. Gryphon Financial Partners LLC raised its stake in Procter & Gamble by 8.2% in the fourth quarter. Gryphon Financial Partners LLC now owns 84,360 shares of the company’s stock worth $12,341,000 after buying an additional 6,390 shares in the last quarter. Partners Capital Investment Group LLP lifted its stake in shares of Procter & Gamble by 1.9% during the 4th quarter. Partners Capital Investment Group LLP now owns 5,602 shares of the company’s stock worth $821,000 after purchasing an additional 102 shares during the last quarter. Paulson Wealth Management Inc. boosted its position in Procter & Gamble by 12.6% during the fourth quarter. Paulson Wealth Management Inc. now owns 7,506 shares of the company’s stock valued at $1,100,000 after purchasing an additional 840 shares in the last quarter. Finally, California State Teachers Retirement System grew its stake in Procter & Gamble by 1.3% in the fourth quarter. California State Teachers Retirement System now owns 3,808,306 shares of the company’s stock valued at $558,069,000 after purchasing an additional 48,632 shares during the last quarter. Institutional investors own 65.77% of the company’s stock.

Insider Transactions at Procter & Gamble

In other news, CEO Jon R. Moeller sold 37,240 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Jon R. Moeller sold 37,240 shares of the firm’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 transaction, the chief executive officer now owns 263,537 shares in the company, valued at $44,508,763.93. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Andre Schulten sold 13,041 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $170.00, for a total value of $2,216,970.00. Following the sale, the chief financial officer now owns 37,208 shares of the company’s stock, valued at $6,325,360. The disclosure for this sale can be found here. Insiders have sold a total of 375,553 shares of company stock valued at $63,829,141 in the last ninety days. 0.17% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on PG shares. JPMorgan Chase & Co. increased their price target on shares of Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. StockNews.com downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Evercore ISI upped their price target on Procter & Gamble from $177.00 to $183.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Piper Sandler started coverage on Procter & Gamble in a research report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price objective for the company. Finally, BNP Paribas initiated coverage on Procter & Gamble in a research report on Monday, June 24th. They set an “outperform” rating and a $187.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Procter & Gamble has an average rating of “Moderate Buy” and a consensus price target of $175.89.

Procter & Gamble Price Performance

NYSE:PG opened at $173.55 on Friday. The firm’s fifty day moving average is $170.79 and its two-hundred day moving average is $166.17. The firm has a market cap of $409.60 billion, a price-to-earnings ratio of 28.36, a PEG ratio of 3.76 and a beta of 0.41. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.53 and a current ratio of 0.73. The Procter & Gamble Company has a one year low of $141.45 and a one year high of $177.94.

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

Procter & Gamble Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Friday, July 19th were given a dividend of $1.0065 per share. The ex-dividend date of this dividend was Friday, July 19th. This represents a $4.03 annualized dividend and a yield of 2.32%. Procter & Gamble’s dividend payout ratio is presently 65.85%.

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.