OneAscent Wealth Management LLC Raises Holdings in The Procter & Gamble Company (NYSE:PG)

OneAscent Wealth Management LLC grew its position in shares of The Procter & Gamble Company (NYSE:PG) by 24.6% in the first quarter, HoldingsChannel reports. The firm owned 2,240 shares of the company’s stock after buying an additional 442 shares during the quarter. OneAscent Wealth Management LLC’s holdings in Procter & Gamble were worth $363,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PG. Wellington Management Group LLP lifted its stake in Procter & Gamble by 9.4% in the third quarter. Wellington Management Group LLP now owns 35,608,913 shares of the company’s stock worth $5,193,916,000 after purchasing an additional 3,047,557 shares during the last quarter. Norges Bank bought a new stake in Procter & Gamble in the fourth quarter worth about $3,956,117,000. Charles Schwab Investment Management Inc. raised its stake in shares of 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 acquiring an additional 206,165 shares in the last quarter. Royal Bank of Canada raised its stake in shares of 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 acquiring an additional 346,925 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of 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 acquiring an additional 559,358 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Insiders Place Their Bets

In other Procter & Gamble 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 transaction, the chief executive officer now owns 4,004 shares in the company, valued at $634,634. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO R. Alexandra Keith sold 855 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $158.50, for a total transaction of $135,517.50. Following the completion of the sale, the chief executive officer now owns 4,004 shares of the company’s stock, valued at $634,634. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar G. Raman sold 31,924 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 19,042 shares of the company’s stock, valued at approximately $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. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. StockNews.com raised shares of Procter & Gamble from a “hold” rating to a “buy” rating in a report on Tuesday. Jefferies Financial Group lifted their price objective on shares of Procter & Gamble from $175.00 to $182.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Barclays lifted their price objective on shares of Procter & Gamble from $168.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, April 23rd. Truist Financial raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and lifted their price objective for the company from $160.00 to $175.00 in a report on Monday, March 11th. Finally, The Goldman Sachs Group assumed coverage on shares of Procter & Gamble in a report on Friday, March 1st. They set a “neutral” rating and a $168.00 price objective on the stock. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $170.72.

Procter & Gamble Stock Performance

NYSE PG traded down $1.70 on Friday, reaching $164.92. 9,253,317 shares of the company’s stock traded hands, compared to its average volume of 6,088,934. The firm has a market cap of $389.23 billion, a price-to-earnings ratio of 26.95, a P/E/G ratio of 3.38 and a beta of 0.42. The stock has a 50 day moving average price of $165.60 and a 200-day moving average price of $158.73. The Procter & Gamble Company has a fifty-two week low of $141.45 and a fifty-two week high of $169.41. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.48 and a current ratio of 0.69.

Procter & Gamble (NYSE:PG) last posted its 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. The company 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 firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.37 earnings per share. Equities research analysts predict that The Procter & Gamble Company will post 6.55 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th were given a $1.0065 dividend. The ex-dividend date 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 is 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.