Buckley Wealth Management LLC Reduces Stake in The Procter & Gamble Company (NYSE:PG)

Buckley Wealth Management LLC cut its position in shares of The Procter & Gamble Company (NYSE:PG) by 2.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,326 shares of the company’s stock after selling 1,465 shares during the quarter. Procter & Gamble comprises 3.0% of Buckley Wealth Management LLC’s investment portfolio, making the stock its 9th biggest holding. Buckley Wealth Management LLC’s holdings in Procter & Gamble were worth $9,301,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in Procter & Gamble by 9.4% during the third quarter. Wellington Management Group LLP now owns 35,608,913 shares of the company’s stock valued at $5,193,916,000 after buying an additional 3,047,557 shares during the last quarter. Norges Bank purchased a new position in Procter & Gamble during the fourth quarter valued at $3,956,117,000. Charles Schwab Investment Management Inc. raised its stake in Procter & Gamble by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 16,209,425 shares of the company’s stock valued at $2,336,552,000 after buying an additional 206,165 shares during the last quarter. Royal Bank of Canada raised its stake in Procter & Gamble by 3.2% during the third quarter. Royal Bank of Canada now owns 11,170,305 shares of the company’s stock valued at $1,629,299,000 after buying an additional 346,925 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in Procter & Gamble by 5.6% during the fourth quarter. Fisher Asset Management LLC now owns 10,556,988 shares of the company’s stock valued at $1,547,021,000 after buying an additional 559,358 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on PG. The Goldman Sachs Group began coverage on Procter & Gamble in a research note on Friday, March 1st. They set a “neutral” rating and a $168.00 price objective for the company. Argus boosted their price target on Procter & Gamble from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. StockNews.com upgraded Procter & Gamble from a “hold” rating to a “buy” rating in a research note on Tuesday. Truist Financial upgraded Procter & Gamble from a “hold” rating to a “buy” rating and boosted their price target for the stock from $160.00 to $175.00 in a research note on Monday, March 11th. Finally, BNP Paribas initiated coverage on Procter & Gamble in a research note on Monday. They issued an “outperform” rating and a $187.00 price target for the company. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Procter & Gamble has an average rating of “Moderate Buy” and a consensus target price of $170.72.

Insider Buying and Selling

In other Procter & Gamble news, CEO R. Alexandra Keith sold 855 shares of the company’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $158.50, for a total value of $135,517.50. Following the completion of the transaction, the chief executive officer now owns 4,004 shares in the company, valued at $634,634. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO R. Alexandra Keith sold 855 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $158.50, for a total value of $135,517.50. Following the completion of the sale, the chief executive officer now directly owns 4,004 shares of the company’s stock, valued at $634,634. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar G. Raman sold 31,924 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $166.95, for a total transaction of $5,329,711.80. Following the completion of the sale, the chief executive officer now directly owns 19,042 shares of the company’s stock, valued at $3,179,061.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 154,544 shares of company stock worth $25,413,051. Corporate insiders own 0.17% of the company’s stock.

Procter & Gamble Trading Down 0.5 %

NYSE PG traded down $0.83 on Thursday, reaching $166.62. The stock had a trading volume of 4,969,691 shares, compared to its average volume of 6,575,230. The stock has a fifty day moving average price of $165.28 and a two-hundred day moving average price of $158.54. The firm has a market capitalization of $393.25 billion, a price-to-earnings ratio of 27.31, a P/E/G ratio of 3.39 and a beta of 0.42. The company has a quick ratio of 0.48, a current ratio of 0.69 and a debt-to-equity ratio of 0.49. The Procter & Gamble Company has a 12-month low of $141.45 and a 12-month high of $169.41.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Friday, April 19th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.42 by $0.10. The business had revenue of $20.20 billion during the quarter, compared to the consensus estimate of $20.43 billion. Procter & Gamble had a net margin of 18.00% and a return on equity of 33.91%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.37 earnings per share. As a group, sell-side analysts forecast that The Procter & Gamble Company will post 6.55 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Friday, April 19th were paid a dividend of $1.0065 per share. The ex-dividend date was Thursday, April 18th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.42%. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.94. Procter & Gamble’s payout ratio is presently 65.85%.

About Procter & Gamble

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.