Elevation Point Wealth Partners LLC lifted its position in Procter & Gamble Company (The) (NYSE:PG – Free Report) by 77.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 78,404 shares of the company’s stock after purchasing an additional 34,263 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Procter & Gamble were worth $11,325,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Procter & Gamble in the 4th quarter worth $4,664,783,000. Cardano Risk Management B.V. grew its position in shares of Procter & Gamble by 1,104.8% during the 4th quarter. Cardano Risk Management B.V. now owns 9,521,440 shares of the company’s stock worth $1,364,518,000 after buying an additional 8,731,126 shares in the last quarter. Auto Owners Insurance Co increased its stake in shares of Procter & Gamble by 14,231.0% during the fourth quarter. Auto Owners Insurance Co now owns 3,549,645 shares of the company’s stock valued at $508,700,000 after buying an additional 3,524,876 shares during the period. Vanguard Group Inc. increased its stake in shares of Procter & Gamble by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 237,459,756 shares of the company’s stock valued at $34,030,358,000 after buying an additional 2,829,151 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Procter & Gamble by 100.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 5,460,939 shares of the company’s stock valued at $782,607,000 after acquiring an additional 2,741,924 shares in the last quarter. Institutional investors own 65.77% of the company’s stock.
Procter & Gamble Stock Performance
Shares of Procter & Gamble stock opened at $151.30 on Friday. The company has a market capitalization of $352.32 billion, a PE ratio of 22.12, a P/E/G ratio of 6.27 and a beta of 0.39. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.53 and a current ratio of 0.73. The company has a 50-day simple moving average of $146.28 and a two-hundred day simple moving average of $148.23. Procter & Gamble Company has a one year low of $137.62 and a one year high of $167.25.
Procter & Gamble Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, April 24th were given a dividend of $1.0885 per share. The ex-dividend date of this dividend was Friday, April 24th. This is a boost from Procter & Gamble’s previous quarterly dividend of $1.06. This represents a $4.35 dividend on an annualized basis and a dividend yield of 2.9%. Procter & Gamble’s payout ratio is currently 63.60%.
Analyst Ratings Changes
Several research analysts have issued reports on the stock. The Goldman Sachs Group dropped their target price on shares of Procter & Gamble from $159.00 to $155.00 and set a “neutral” rating on the stock in a report on Wednesday, April 8th. Morgan Stanley reduced their price target on shares of Procter & Gamble from $175.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday, April 22nd. BMO Capital Markets increased their price objective on shares of Procter & Gamble from $169.00 to $170.00 and gave the company an “outperform” rating in a research note on Monday. UBS Group lifted their price objective on shares of Procter & Gamble from $166.00 to $172.00 and gave the company a “buy” rating in a report on Monday, April 27th. Finally, Jefferies Financial Group boosted their price objective on shares of Procter & Gamble from $177.00 to $179.00 and gave the stock a “buy” rating in a research note on Friday, June 26th. Twelve equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, Procter & Gamble has a consensus rating of “Moderate Buy” and a consensus target price of $161.47.
Check Out Our Latest Analysis on Procter & Gamble
Procter & Gamble News Summary
Here are the key news stories impacting Procter & Gamble this week:
- Positive Sentiment: Procter & Gamble is being highlighted as potentially undervalued after its 70th dividend increase, with some commentary suggesting the stock may still have upside despite its premium valuation. Procter & Gamble (PG) Stock May Be 21% Undervalued Following Its 70th Dividend Increase
- Positive Sentiment: The company continues to draw attention as a long-term dividend-growth stock, which can appeal to income-focused investors and support demand for the shares. Here’s How Much You Need to Replace $70,000 in Salary With Dividend Income
- Neutral Sentiment: Procter & Gamble scheduled an earnings webcast discussion, keeping investor attention on upcoming guidance and any updates on demand, margins, and pricing power. Procter & Gamble (NYSE:PG) Schedules Earnings Webcast Discussion
- Neutral Sentiment: Articles on the stock’s “quality” and long dividend history suggest the market still views PG as a stable, reliable holding, but also note that the valuation leaves limited room for error. Procter & Gamble: Quality Priced In, Patience Now Required
- Neutral Sentiment: Another analysis emphasized Procter & Gamble’s 70 years of dividend growth, but cautioned that there may be little room for operational missteps at current levels. Procter & Gamble: 70 Years Of Dividend Growth, But Little Room For Error
- Negative Sentiment: Piper Sandler reportedly rated Procter & Gamble a Hold, reflecting a more cautious view on near-term upside after the stock’s recent run. Procter & Gamble (PG) Receives a Hold from Piper Sandler
Procter & Gamble Profile
Procter & Gamble (NYSE: PG) is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world’s largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.
P&G’s product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.
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