Perennial Advisors LLC Takes Position in The Procter & Gamble Company (NYSE:PG)

Perennial Advisors LLC acquired a new stake in The Procter & Gamble Company (NYSE:PG) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,062 shares of the company’s stock, valued at approximately $351,000.

A number of other hedge funds have also added to or reduced their stakes in PG. NewSquare Capital LLC raised its stake in Procter & Gamble by 933.3% during the 4th quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock worth $26,000 after buying an additional 140 shares during the period. Navigoe LLC bought a new position in shares of Procter & Gamble during the 4th quarter valued at approximately $31,000. Capital A Wealth Management LLC purchased a new position in Procter & Gamble in the 4th quarter valued at approximately $31,000. Hoey Investments Inc. grew its stake in Procter & Gamble by 321.7% in the 4th quarter. Hoey Investments Inc. now owns 194 shares of the company’s stock valued at $33,000 after buying an additional 148 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA purchased a new position in shares of Procter & Gamble during the 4th quarter valued at $34,000. 65.77% of the stock is owned by institutional investors.

Insider Buying and Selling at Procter & Gamble

In related news, CEO Jennifer L. Davis sold 1,000 shares of Procter & Gamble stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total transaction of $161,380.00. Following the transaction, the chief executive officer now owns 51,965 shares of the company’s stock, valued at $8,386,111.70. This trade represents a 1.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of Procter & Gamble stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the completion of the sale, the insider now owns 25,182 shares in the company, valued at $3,995,627.94. This trade represents a 29.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Procter & Gamble Trading Up 0.7%

Shares of NYSE:PG opened at $164.01 on Friday. The Procter & Gamble Company has a fifty-two week low of $156.58 and a fifty-two week high of $180.43. The company has a market cap of $384.53 billion, a PE ratio of 26.12, a P/E/G ratio of 3.76 and a beta of 0.43. The company’s 50-day moving average price is $164.01 and its 200 day moving average price is $167.25. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.01. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The company had revenue of $19.78 billion for the quarter, compared to analysts’ expectations of $20.42 billion. During the same quarter in the previous year, the company posted $1.52 EPS. The business’s revenue was down 2.1% compared to the same quarter last year. Sell-side analysts anticipate that The Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, April 21st were paid a $1.0568 dividend. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.58%. This is a boost from Procter & Gamble’s previous quarterly dividend of $1.01. The ex-dividend date was Monday, April 21st. Procter & Gamble’s payout ratio is presently 66.98%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Barclays reissued an “equal weight” rating on shares of Procter & Gamble in a research note on Thursday, March 27th. Raymond James lowered their price objective on shares of Procter & Gamble from $190.00 to $185.00 and set an “outperform” rating on the stock in a research report on Friday, April 25th. Piper Sandler raised their price objective on shares of Procter & Gamble from $160.00 to $164.00 and gave the company a “neutral” rating in a research report on Monday, May 5th. Evercore ISI reaffirmed an “outperform” rating and set a $190.00 target price (up from $170.00) on shares of Procter & Gamble in a research note on Tuesday, June 3rd. Finally, Erste Group Bank cut shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 30th. Eight equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Procter & Gamble has an average rating of “Moderate Buy” and a consensus target price of $178.86.

About Procter & Gamble

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.