Carret Asset Management LLC Trims Position in The Procter & Gamble Company (NYSE:PG)

Carret Asset Management LLC reduced its position in The Procter & Gamble Company (NYSE:PG) by 0.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 48,718 shares of the company’s stock after selling 356 shares during the period. Procter & Gamble comprises approximately 0.9% of Carret Asset Management LLC’s holdings, making the stock its 26th biggest holding. Carret Asset Management LLC’s holdings in Procter & Gamble were worth $7,904,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Azzad Asset Management Inc. ADV grew its holdings in Procter & Gamble by 1.5% in the first quarter. Azzad Asset Management Inc. ADV now owns 51,628 shares of the company’s stock valued at $8,377,000 after purchasing an additional 766 shares during the period. Tower Wealth Partners Inc. increased its holdings in shares of Procter & Gamble by 139.4% during the 1st quarter. Tower Wealth Partners Inc. now owns 11,688 shares of the company’s stock worth $1,896,000 after buying an additional 6,805 shares during the last quarter. Silverlake Wealth Management LLC raised its position in shares of Procter & Gamble by 0.6% in the 1st quarter. Silverlake Wealth Management LLC now owns 37,295 shares of the company’s stock worth $6,051,000 after buying an additional 228 shares during the period. Naviter Wealth LLC boosted its holdings in Procter & Gamble by 12.6% in the first quarter. Naviter Wealth LLC now owns 17,653 shares of the company’s stock valued at $2,864,000 after acquiring an additional 1,970 shares during the last quarter. Finally, Myecfo LLC acquired a new stake in Procter & Gamble during the first quarter worth about $239,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Procter & Gamble Trading Down 0.0 %

NYSE PG traded down $0.07 on Wednesday, hitting $163.83. 2,945,091 shares of the company were exchanged, compared to its average volume of 6,567,495. The Procter & Gamble Company has a twelve month low of $141.45 and a twelve month high of $169.41. The company’s 50 day moving average price is $165.70 and its 200-day moving average price is $159.15. The firm has a market capitalization of $386.66 billion, a P/E ratio of 26.70, a price-to-earnings-growth ratio of 3.35 and a beta of 0.41. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.69 and a quick ratio of 0.48.

Procter & Gamble (NYSE:PG) last released 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 analyst estimates of $20.43 billion. Procter & Gamble had a return on equity of 33.91% and a net margin of 18.00%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.37 earnings per share. 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 announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th were paid a $1.0065 dividend. The ex-dividend date of this dividend was Thursday, April 18th. This represents a $4.03 dividend on an annualized basis and a yield of 2.46%. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.94. Procter & Gamble’s payout ratio is 65.85%.

Insiders Place Their Bets

In other Procter & Gamble news, CEO R. Alexandra Keith sold 855 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 4,004 shares of the company’s stock, valued at $634,634. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO R. Alexandra Keith sold 855 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was 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 in the company, valued at approximately $634,634. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gary A. Coombe sold 21,388 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $164.98, for a total value of $3,528,592.24. Following the transaction, the chief executive officer now owns 36,854 shares in the company, valued at approximately $6,080,172.92. The disclosure for this sale can be found here. Insiders have sold a total of 154,544 shares of company stock valued at $25,413,051 in the last three months. Insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PG shares. StockNews.com raised shares of Procter & Gamble from a “hold” rating to a “buy” rating in a research note on Tuesday, June 25th. Truist Financial upgraded Procter & Gamble from a “hold” rating to a “buy” rating and raised their price objective for the company from $160.00 to $175.00 in a research note on Monday, March 11th. Deutsche Bank Aktiengesellschaft cut their target price on Procter & Gamble from $172.00 to $171.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Argus lifted their price target on shares of Procter & Gamble from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Finally, Jefferies Financial Group increased their price objective on shares of Procter & Gamble from $175.00 to $182.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Procter & Gamble has a consensus rating of “Moderate Buy” and a consensus target price of $170.72.

Procter & Gamble Company 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.