Concord Wealth Partners Raises Stake in The Procter & Gamble Company (NYSE:PG)

Concord Wealth Partners lifted its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,960 shares of the company’s stock after buying an additional 395 shares during the period. Concord Wealth Partners’ holdings in Procter & Gamble were worth $4,669,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in PG. Legal & General Group Plc increased its stake in Procter & Gamble by 0.6% in the 2nd quarter. Legal & General Group Plc now owns 21,632,054 shares of the company’s stock valued at $3,567,556,000 after buying an additional 122,190 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Procter & Gamble by 8.2% during the second quarter. Dimensional Fund Advisors LP now owns 9,691,925 shares of the company’s stock worth $1,598,510,000 after acquiring an additional 733,440 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Procter & Gamble by 9.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 6,161,507 shares of the company’s stock worth $999,705,000 after purchasing an additional 545,601 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Procter & Gamble by 1.3% in the 1st quarter. Janus Henderson Group PLC now owns 6,008,938 shares of the company’s stock valued at $974,914,000 after buying an additional 79,665 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in shares of Procter & Gamble by 3.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 5,706,199 shares of the company’s stock worth $941,066,000 after purchasing an additional 216,300 shares in the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on PG shares. Piper Sandler started coverage on shares of Procter & Gamble in a research note on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price objective for the company. Wolfe Research upgraded shares of Procter & Gamble to a “strong-buy” rating in a research report on Friday, August 23rd. TD Cowen initiated coverage on Procter & Gamble in a report on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 price target on the stock. Stifel Nicolaus lifted their price objective on Procter & Gamble from $157.00 to $161.00 and gave the stock a “hold” rating in a report on Monday, July 22nd. Finally, Evercore ISI upped their target price on Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Nine analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Procter & Gamble currently has a consensus rating of “Moderate Buy” and a consensus target price of $177.00.

Insiders Place Their Bets

In related news, CEO Ma. Fatima Francisco sold 96,000 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $170.00, for a total value of $16,320,000.00. Following the completion of the sale, the chief executive officer now directly owns 13,721 shares in the company, valued at approximately $2,332,570. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Procter & Gamble news, CEO Ma. Fatima Francisco sold 96,000 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $170.00, for a total value of $16,320,000.00. Following the completion of the transaction, the chief executive officer now directly owns 13,721 shares of the company’s stock, valued at $2,332,570. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Balaji Purushothaman sold 8,842 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the sale, the insider now directly owns 11,537 shares of the company’s stock, valued at $1,902,451.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 397,986 shares of company stock worth $67,642,430 over the last ninety days. 0.17% of the stock is owned by company insiders.

Procter & Gamble Trading Up 0.4 %

Procter & Gamble stock traded up $0.71 during trading on Monday, hitting $168.93. The company’s stock had a trading volume of 1,314,434 shares, compared to its average volume of 6,643,652. The stock’s fifty day moving average is $171.93 and its 200 day moving average is $167.69. The Procter & Gamble Company has a 1-year low of $142.50 and a 1-year high of $177.94. The stock has a market capitalization of $398.70 billion, a price-to-earnings ratio of 27.60, a P/E/G ratio of 3.67 and a beta of 0.41. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.03. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The business had revenue of $21.74 billion for the quarter, compared to analyst estimates of $21.99 billion. During the same period in the prior year, the firm posted $1.83 EPS. The company’s revenue was down .6% on a year-over-year basis. As a group, equities research analysts predict that The Procter & Gamble Company will post 6.94 EPS for the current year.

Procter & Gamble Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be given a dividend of $1.0065 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $4.03 dividend on an annualized basis and a yield of 2.38%. Procter & Gamble’s dividend payout ratio (DPR) is 65.69%.

Procter & Gamble Profile

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.