Stonehaven Wealth & Tax Solutions LLC Makes New Investment in The Procter & Gamble Company (NYSE:PG)

Stonehaven Wealth & Tax Solutions LLC acquired a new stake in The Procter & Gamble Company (NYSE:PG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,144 shares of the company’s stock, valued at approximately $359,000.

Other hedge funds have also made changes to their positions in the company. Howard Capital Management Group LLC increased its holdings in shares of Procter & Gamble by 1.0% in the third quarter. Howard Capital Management Group LLC now owns 8,327 shares of the company’s stock valued at $1,442,000 after buying an additional 82 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Procter & Gamble by 14.7% in the 3rd quarter. Principal Financial Group Inc. now owns 4,734,588 shares of the company’s stock worth $820,031,000 after acquiring an additional 608,168 shares during the last quarter. Garden State Investment Advisory Services LLC acquired a new stake in shares of Procter & Gamble during the third quarter worth $201,000. Invst LLC lifted its holdings in shares of Procter & Gamble by 0.7% during the third quarter. Invst LLC now owns 15,889 shares of the company’s stock valued at $2,752,000 after purchasing an additional 103 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Procter & Gamble in the 3rd quarter valued at $1,632,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Price Performance

NYSE PG opened at $168.56 on Wednesday. The firm has a market cap of $395.24 billion, a P/E ratio of 26.84, a price-to-earnings-growth ratio of 3.76 and a beta of 0.43. The stock’s 50-day moving average is $168.34 and its two-hundred day moving average is $168.56. The Procter & Gamble Company has a fifty-two week low of $153.52 and a fifty-two week high of $180.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55.

Procter & Gamble (NYSE:PG) last announced its earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The firm had revenue of $21.88 billion during the quarter, compared to analysts’ expectations of $21.66 billion. During the same quarter in the prior year, the business earned $1.84 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. On average, analysts anticipate that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Monday, April 21st will be issued a dividend of $1.0568 per share. This represents a $4.23 dividend on an annualized basis and a yield of 2.51%. This is a boost from Procter & Gamble’s previous quarterly dividend of $1.01. The ex-dividend date is Monday, April 21st. Procter & Gamble’s dividend payout ratio is 67.20%.

Insider Activity

In other Procter & Gamble news, CEO Gary A. Coombe sold 18,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $171.66, for a total value of $3,089,880.00. Following the sale, the chief executive officer now owns 22,051 shares of the company’s stock, valued at $3,785,274.66. This trade represents a 44.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Marc S. Pritchard sold 90,450 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total value of $14,819,328.00. Following the completion of the sale, the insider now directly owns 172,814 shares of the company’s stock, valued at $28,313,845.76. This represents a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 143,450 shares of company stock valued at $23,988,008. 0.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on PG. DA Davidson reaffirmed a “buy” rating and set a $209.00 price objective on shares of Procter & Gamble in a research note on Thursday, January 23rd. Royal Bank of Canada restated a “sector perform” rating and issued a $164.00 price target on shares of Procter & Gamble in a research report on Thursday, January 23rd. Truist Financial lifted their price objective on shares of Procter & Gamble from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, April 3rd. Stifel Nicolaus increased their target price on Procter & Gamble from $161.00 to $165.00 and gave the company a “hold” rating in a report on Thursday, January 23rd. Finally, Piper Sandler lowered their price target on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. Seven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Procter & Gamble presently has a consensus rating of “Moderate Buy” and an average target price of $181.50.

Procter & Gamble Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.