Griffin Asset Management Inc. Sells 500 Shares of The Procter & Gamble Company (NYSE:PG)

Griffin Asset Management Inc. cut its stake in shares of The Procter & Gamble Company (NYSE:PG) by 1.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,034 shares of the company’s stock after selling 500 shares during the quarter. Griffin Asset Management Inc.’s holdings in Procter & Gamble were worth $6,171,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PG. Teza Capital Management LLC lifted its position in Procter & Gamble by 212.9% during the 3rd quarter. Teza Capital Management LLC now owns 4,284 shares of the company’s stock worth $625,000 after acquiring an additional 2,915 shares during the period. Fred Alger Management LLC boosted its position in Procter & Gamble by 0.3% in the third quarter. Fred Alger Management LLC now owns 50,240 shares of the company’s stock valued at $7,328,000 after buying an additional 167 shares during the last quarter. Hodges Capital Management Inc. purchased a new position in Procter & Gamble during the 3rd quarter worth approximately $1,001,000. Gateway Advisory LLC raised its position in Procter & Gamble by 33.3% during the 3rd quarter. Gateway Advisory LLC now owns 10,156 shares of the company’s stock worth $1,481,000 after buying an additional 2,537 shares during the last quarter. Finally, Insigneo Advisory Services LLC boosted its holdings in shares of Procter & Gamble by 4.6% in the 3rd quarter. Insigneo Advisory Services LLC now owns 12,524 shares of the company’s stock valued at $1,827,000 after acquiring an additional 547 shares during the last quarter. 65.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PG. StockNews.com upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating in a research note on Tuesday. BNP Paribas started coverage on Procter & Gamble in a research note on Monday, June 24th. They issued an “outperform” rating and a $187.00 target price on the stock. Truist Financial raised Procter & Gamble from a “hold” rating to a “buy” rating and raised their target price for the stock from $160.00 to $175.00 in a report on Monday, March 11th. The Goldman Sachs Group assumed coverage on Procter & Gamble in a research report on Friday, March 1st. They issued a “neutral” rating and a $168.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Procter & Gamble from $172.00 to $171.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $170.72.

Procter & Gamble Price Performance

PG stock traded down $1.70 during midday trading on Friday, reaching $164.92. The stock had a trading volume of 9,253,317 shares, compared to its average volume of 6,088,934. The Procter & Gamble Company has a 52-week low of $141.45 and a 52-week high of $169.41. The company has a market cap of $389.23 billion, a price-to-earnings ratio of 26.95, a price-to-earnings-growth ratio of 3.38 and a beta of 0.42. The company’s fifty day simple moving average is $165.60 and its 200 day simple moving average is $158.73. The company has a current ratio of 0.69, a quick ratio of 0.48 and a debt-to-equity ratio of 0.49.

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

Procter & Gamble Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th were issued a dividend of $1.0065 per share. The ex-dividend date of this dividend was Thursday, April 18th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.44%. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.94. Procter & Gamble’s dividend payout ratio (DPR) is currently 65.85%.

Insider Activity

In other Procter & Gamble news, CEO Sundar G. Raman sold 31,924 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was 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 owns 19,042 shares of the company’s stock, valued at $3,179,061.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Sundar G. Raman sold 31,924 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $166.95, for a total value of $5,329,711.80. Following the sale, the chief executive officer now directly owns 19,042 shares of the company’s stock, valued at approximately $3,179,061.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO R. Alexandra Keith sold 855 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $158.50, for a total transaction of $135,517.50. Following the transaction, the chief executive officer now directly owns 4,004 shares of the company’s stock, valued at approximately $634,634. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 154,544 shares of company stock valued at $25,413,051. 0.17% of the stock is currently owned by company insiders.

Procter & Gamble 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.