REDW Wealth LLC Has $414,000 Stock Position in Procter & Gamble Company (The) (NYSE:PG)

REDW Wealth LLC grew its holdings in shares of Procter & Gamble Company (The) (NYSE:PG) by 11.0% in the first quarter, Holdings Channel reports. The institutional investor owned 2,431 shares of the company’s stock after acquiring an additional 241 shares during the period. REDW Wealth LLC’s holdings in Procter & Gamble were worth $414,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Procter & Gamble by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 229,794,073 shares of the company’s stock valued at $38,524,976,000 after purchasing an additional 1,592,061 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Procter & Gamble by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 56,472,195 shares of the company’s stock valued at $9,457,000,000 after purchasing an additional 1,267,419 shares in the last quarter. Norges Bank bought a new position in shares of Procter & Gamble during the fourth quarter valued at about $5,244,463,000. Northern Trust Corp lifted its position in shares of Procter & Gamble by 10.1% during the fourth quarter. Northern Trust Corp now owns 29,395,208 shares of the company’s stock valued at $4,928,107,000 after purchasing an additional 2,703,757 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Procter & Gamble by 6.4% during the fourth quarter. Franklin Resources Inc. now owns 20,197,996 shares of the company’s stock valued at $3,386,194,000 after purchasing an additional 1,209,275 shares in the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PG has been the topic of a number of recent analyst reports. Raymond James Financial dropped their price target 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. Evercore ISI reissued an “outperform” rating and set a $190.00 price target (up from $170.00) on shares of Procter & Gamble in a research report on Tuesday, June 3rd. Morgan Stanley set a $180.00 price target on shares of Procter & Gamble and gave the company an “overweight” rating in a research report on Friday, April 25th. Erste Group Bank lowered shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Procter & Gamble from $181.00 to $172.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Eight research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $178.45.

Insider Activity at Procter & Gamble

In related news, CEO Jennifer L. Davis sold 1,000 shares of the business’s 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 completion of the transaction, the chief executive officer owned 51,965 shares of the company’s stock, valued at approximately $8,386,111.70. The trade was a 1.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the business’s 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 transaction, the insider directly owned 25,182 shares of the company’s stock, valued at approximately $3,995,627.94. This represents a 29.47% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Procter & Gamble Stock Performance

NYSE PG opened at $160.72 on Friday. The company’s 50 day moving average is $162.10 and its 200-day moving average is $165.28. Procter & Gamble Company has a 12-month low of $156.58 and a 12-month high of $180.43. The company has a quick ratio of 0.50, a current ratio of 0.71 and a debt-to-equity ratio of 0.47. The firm has a market cap of $376.82 billion, a P/E ratio of 25.51, a price-to-earnings-growth ratio of 4.58 and a beta of 0.40.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.01. Procter & Gamble had a net margin of 18.46% and a return on equity of 32.67%. The company had revenue of $19.78 billion for the quarter, compared to analyst estimates of $20.42 billion. During the same quarter in the previous year, the firm posted $1.52 earnings per share. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. Sell-side analysts predict that Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, April 21st were given a $1.0568 dividend. The ex-dividend date of this dividend was Monday, April 21st. This represents a $4.23 annualized dividend and a dividend yield of 2.63%. This is a positive change from Procter & Gamble’s previous quarterly dividend of $1.01. Procter & Gamble’s payout ratio is 67.14%.

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.