The Procter & Gamble Company (NYSE:PG) Shares Acquired by Concorde Asset Management LLC

Concorde Asset Management LLC lifted its position in The Procter & Gamble Company (NYSE:PG) by 26.6% in the third quarter, Holdings Channel reports. The firm owned 2,125 shares of the company’s stock after acquiring an additional 446 shares during the period. Concorde Asset Management LLC’s holdings in Procter & Gamble were worth $368,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in PG. Legal & General Group Plc raised its stake in shares of Procter & Gamble by 0.6% during the 2nd quarter. Legal & General Group Plc now owns 21,632,054 shares of the company’s stock worth $3,567,556,000 after buying an additional 122,190 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Procter & Gamble by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,422,470 shares of the company’s stock valued at $2,844,442,000 after purchasing an additional 105,734 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Procter & Gamble by 8.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,691,925 shares of the company’s stock valued at $1,598,510,000 after purchasing an additional 733,440 shares in the last quarter. Swiss National Bank grew its holdings in Procter & Gamble by 0.6% during the 3rd quarter. Swiss National Bank now owns 7,005,790 shares of the company’s stock valued at $1,213,403,000 after buying an additional 39,000 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Procter & Gamble by 1.3% during the 1st quarter. Janus Henderson Group PLC now owns 6,008,938 shares of the company’s stock valued at $974,914,000 after buying an additional 79,665 shares during the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PG has been the topic of a number of analyst reports. Evercore ISI increased their target price on Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Piper Sandler began coverage on Procter & Gamble in a report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price objective on the stock. Barclays cut Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price objective on the stock. in a report on Monday, September 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a research report on Monday, October 21st. Finally, Hsbc Global Res raised Procter & Gamble to a “strong-buy” rating in a research report on Friday, October 4th. Nine investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Procter & Gamble has a consensus rating of “Moderate Buy” and a consensus price target of $177.00.

Insider Buying and Selling

In related news, CEO Jon R. Moeller sold 87,979 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $170.40, for a total transaction of $14,991,621.60. Following the sale, the chief executive officer now owns 300,777 shares of the company’s stock, valued at $51,252,400.80. The trade was a 22.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Balaji Purushothaman sold 12,800 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $168.99, for a total value of $2,163,072.00. Following the sale, the insider now directly owns 11,566 shares in the company, valued at approximately $1,954,538.34. The trade was a 52.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 160,693 shares of company stock valued at $27,311,345 over the last quarter. Corporate insiders own 0.18% of the company’s stock.

Procter & Gamble Stock Performance

Shares of PG stock opened at $172.68 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50. The business has a 50 day moving average of $170.00 and a two-hundred day moving average of $168.54. The Procter & Gamble Company has a 52 week low of $142.50 and a 52 week high of $177.94. The company has a market cap of $406.67 billion, a P/E ratio of 29.77, a PEG ratio of 3.69 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.03. The business had revenue of $21.74 billion during the quarter, compared to the consensus estimate of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The business’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.83 earnings per share. As a group, analysts anticipate that The Procter & Gamble Company will post 6.94 EPS for the current year.

Procter & Gamble Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 18th were given a dividend of $1.0065 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $4.03 annualized dividend and a dividend yield of 2.33%. Procter & Gamble’s dividend payout ratio is presently 69.48%.

Procter & Gamble Profile

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company 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, SK-II, and Native brands.