Quantum Portfolio Management LLC has significantly increased its stake in the Procter & Gamble Company (NYSE: PG) by purchasing an additional 5,835 shares during the second quarter of 2023. This move elevated the firm’s total holdings to 7,460 shares, reflecting an impressive increase of 359.1% according to their recent disclosure with the Securities and Exchange Commission. As of the latest filing, these shares were valued at approximately $1.19 million.
Institutional interest in Procter & Gamble continues to grow. Other notable investors include Shepherd Financial Partners LLC, which raised its stake by 2.1% to hold 19,100 shares, valued at $3.04 million. Similarly, Morton Community Bank increased its position by 4.3%, acquiring 21,746 shares worth $3.47 million. Avestar Capital LLC and Financial & Tax Architects LLC also reported increases in their holdings, reflecting a broader trend among institutional investors in the company.
As of now, institutional investors own approximately 65.77% of Procter & Gamble’s stock, illustrating strong confidence in the company’s financial outlook.
Analysts Adjust Price Targets
Recent evaluations by market analysts have led to adjustments in price targets for Procter & Gamble. Weiss Ratings reaffirmed a “hold (C+)” rating, while Wells Fargo & Company lowered its price objective from $173.00 to $170.00, maintaining an “overweight” rating. UBS Group also revised its target from $180.00 to $176.00, issuing a “buy” rating.
Bank of America followed suit, reducing its price target from $180.00 to $174.00. Morgan Stanley set a target of $175.00, and overall, twelve analysts have rated the stock as a “buy,” while nine have classified it as a “hold.” According to data from MarketBeat.com, the consensus rating stands at “Moderate Buy” with an average price target of $171.53.
Insider Transactions Highlight Leadership Activity
In related news, insider trading activity has drawn attention. On October 2, 2023, CEO Jennifer L. Davis sold 3,227 shares at an average price of $152.23, totaling $491,246.21. Following this transaction, Davis retained 61,764 shares valued at around $9.40 million, marking a 4.97% reduction in her position.
Another noted transaction involved CEO Jon R. Moeller, who sold 11,684 shares on the same date for a total of $1.78 million. After the sale, Moeller owned 319,932 shares, worth approximately $48.70 million, reflecting a 3.52% decrease in his holdings. Over the past ninety days, insiders have sold a total of 30,308 shares, amounting to approximately $4.61 million.
Procter & Gamble Performance Review
Procter & Gamble’s shares opened at $143.33 recently, with the company maintaining a solid market capitalization of $334.91 billion. The firm has reported a debt-to-equity ratio of 0.46 and a current ratio of 0.71. The stock has fluctuated between a fifty-two week low of $142.51 and a high of $179.99.
In terms of earnings, Procter & Gamble exceeded expectations for the third quarter of 2023, reporting earnings of $1.99 per share, surpassing the consensus estimate of $1.90 by $0.09. The company’s revenue for the quarter was $22.39 billion, slightly above analyst predictions of $22.23 billion. The net margin stood at 19.74%, and the return on equity was 32.63%. The firm projects earnings per share between $6.83 and $7.10 for fiscal year 2026.
Dividend Announcement
Procter & Gamble also declared a quarterly dividend of $1.0568 per share, which was paid on November 17, 2023. Shareholders of record on October 24 received this dividend, resulting in an annualized payout of $4.23 and a yield of 2.9%. The company’s dividend payout ratio currently stands at 61.75%.
Procter & Gamble continues to demonstrate resilience in its financial performance and remains a focal point for institutional investors amidst ongoing market dynamics.
