The Procter & Gamble Company (NYSE:PG) Stock Position Boosted by Cobblestone Capital Advisors LLC NY

Cobblestone Capital Advisors LLC NY grew its stake in shares of The Procter & Gamble Company (NYSE:PG) by 0.6% during the third quarter, Holdings Channel reports. The institutional investor owned 55,478 shares of the company’s stock after acquiring an additional 312 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Procter & Gamble were worth $9,609,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Encompass More Asset Management boosted its position in shares of Procter & Gamble by 54.8% during the 3rd quarter. Encompass More Asset Management now owns 5,306 shares of the company’s stock valued at $919,000 after purchasing an additional 1,878 shares in the last quarter. Acropolis Investment Management LLC lifted its stake in Procter & Gamble by 1.6% during the third quarter. Acropolis Investment Management LLC now owns 4,174 shares of the company’s stock valued at $723,000 after purchasing an additional 67 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Procter & Gamble by 67.7% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,854,581 shares of the company’s stock worth $321,213,000 after buying an additional 748,993 shares in the last quarter. Infusive Asset Management Inc. grew its position in Procter & Gamble by 30.2% in the third quarter. Infusive Asset Management Inc. now owns 69,120 shares of the company’s stock worth $11,972,000 after buying an additional 16,040 shares during the last quarter. Finally, Icon Wealth Advisors LLC increased its holdings in shares of Procter & Gamble by 5.1% in the third quarter. Icon Wealth Advisors LLC now owns 28,613 shares of the company’s stock valued at $4,956,000 after buying an additional 1,380 shares in the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PG. Morgan Stanley upped their target price on Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, October 21st. DZ Bank upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 target price for the company in a report on Thursday, August 29th. Piper Sandler assumed coverage on shares of Procter & Gamble in a report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price target on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $164.00 price objective on shares of Procter & Gamble in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Procter & Gamble from $179.00 to $186.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $180.45.

Procter & Gamble Price Performance

Shares of Procter & Gamble stock opened at $179.26 on Friday. The Procter & Gamble Company has a 1-year low of $142.50 and a 1-year high of $180.43. The firm has a fifty day simple moving average of $170.48 and a 200-day simple moving average of $169.09. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $422.16 billion, a price-to-earnings ratio of 30.91, a PEG ratio of 3.86 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The company had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $21.99 billion. During the same period in the prior year, the company earned $1.83 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. On average, sell-side analysts expect that The Procter & Gamble Company will post 6.97 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were paid a $1.0065 dividend. The ex-dividend date was Friday, October 18th. This represents a $4.03 annualized dividend and a dividend yield of 2.25%. Procter & Gamble’s payout ratio is 69.48%.

Insider Transactions at Procter & Gamble

In other news, insider Balaji Purushothaman sold 12,800 shares of Procter & Gamble stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the sale, the insider now owns 11,566 shares of the company’s stock, valued at approximately $1,954,538.34. This trade represents a 52.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Susan Street Whaley sold 634 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $108,826.10. Following the sale, the insider now owns 19,341 shares in the company, valued at approximately $3,319,882.65. This represents a 3.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,233 shares of company stock worth $6,024,234. Insiders own 0.18% of the company’s stock.

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.