Azzad Asset Management Inc. ADV Makes New Investment in The Procter & Gamble Company (NYSE:PG)

Azzad Asset Management Inc. ADV bought a new position in The Procter & Gamble Company (NYSE:PG) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 54,584 shares of the company’s stock, valued at approximately $9,302,000. Procter & Gamble accounts for approximately 1.1% of Azzad Asset Management Inc. ADV’s portfolio, making the stock its 8th largest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. NewSquare Capital LLC grew its stake in shares of Procter & Gamble by 933.3% during the 4th quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock valued at $26,000 after buying an additional 140 shares during the period. Navigoe LLC acquired a new position in shares of Procter & Gamble during the 4th quarter valued at $31,000. Capital A Wealth Management LLC acquired a new position in shares of Procter & Gamble during the 4th quarter valued at $31,000. Hoey Investments Inc. lifted its holdings in shares of Procter & Gamble by 321.7% during the 4th quarter. Hoey Investments Inc. now owns 194 shares of the company’s stock valued at $33,000 after acquiring an additional 148 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA acquired a new position in shares of Procter & Gamble during the 4th quarter valued at $34,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

Procter & Gamble Price Performance

Shares of NYSE:PG opened at $160.06 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a fifty-two week low of $156.58 and a fifty-two week high of $180.43. The firm has a 50-day simple moving average of $163.75 and a 200 day simple moving average of $166.82. The company has a market cap of $375.27 billion, a PE ratio of 25.49, a P/E/G ratio of 3.76 and a beta of 0.43.

Procter & Gamble (NYSE:PG) last posted its earnings results on Thursday, April 24th. The company reported $1.54 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 firm had revenue of $19.78 billion during the quarter, compared to analysts’ expectations of $20.42 billion. During the same quarter in the prior year, the firm earned $1.52 EPS. Procter & Gamble’s quarterly revenue was down 2.1% on a year-over-year basis. On average, sell-side analysts anticipate that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were given a $1.0568 dividend. This is a boost from Procter & Gamble’s previous quarterly dividend of $1.01. The ex-dividend date was Monday, April 21st. This represents a $4.23 annualized dividend and a yield of 2.64%. Procter & Gamble’s dividend payout ratio is 66.98%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PG shares. Piper Sandler lifted their target price on shares of Procter & Gamble from $160.00 to $164.00 and gave the company a “neutral” rating in a report on Monday, May 5th. Citigroup cut their price objective on shares of Procter & Gamble from $200.00 to $181.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Redburn Atlantic lowered shares of Procter & Gamble from a “buy” rating to a “neutral” rating and set a $161.00 price objective on the stock. in a report on Thursday, May 1st. Barclays reiterated an “equal weight” rating on shares of Procter & Gamble in a report on Thursday, March 27th. Finally, Redburn Partners set a $161.00 price objective on shares of Procter & Gamble in a report on Thursday, May 1st. Eight investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Procter & Gamble currently has a consensus rating of “Moderate Buy” and a consensus target price of $178.86.

Insiders Place Their Bets

In other news, CEO Jennifer L. Davis sold 1,000 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total value of $161,380.00. Following the completion of the transaction, the chief executive officer now directly owns 51,965 shares in the company, valued at $8,386,111.70. This trade represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the 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 transaction, the insider now owns 25,182 shares of the company’s stock, 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. 0.18% of the stock is owned by insiders.

Procter & Gamble Company Profile

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.