Cherrydale Wealth Management LLC Buys 132 Shares of The Procter & Gamble Company (NYSE:PG)

Cherrydale Wealth Management LLC grew its position in shares of The Procter & Gamble Company (NYSE:PG) by 7.3% in the 4th quarter, Holdings Channel reports. The firm owned 1,947 shares of the company’s stock after acquiring an additional 132 shares during the quarter. Cherrydale Wealth Management LLC’s holdings in Procter & Gamble were worth $326,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PG. Concurrent Investment Advisors LLC lifted its holdings in Procter & Gamble by 4.5% in the third quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock valued at $16,300,000 after buying an additional 4,035 shares during the period. Copley Financial Group Inc. acquired a new position in shares of Procter & Gamble in the 3rd quarter valued at about $668,000. Fortem Financial Group LLC acquired a new stake in Procter & Gamble during the fourth quarter worth approximately $569,000. Synovus Financial Corp increased its holdings in Procter & Gamble by 3.4% in the third quarter. Synovus Financial Corp now owns 185,134 shares of the company’s stock worth $32,065,000 after purchasing an additional 6,077 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in Procter & Gamble by 7.5% in the fourth quarter. Nordea Investment Management AB now owns 2,898,569 shares of the company’s stock valued at $484,583,000 after buying an additional 201,695 shares during the period. 65.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PG. JPMorgan Chase & Co. lowered their price objective on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a research note on Thursday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $164.00 price target on shares of Procter & Gamble in a research note on Monday, October 21st. UBS Group reduced their target price on Procter & Gamble from $196.00 to $189.00 and set a “buy” rating for the company in a research note on Thursday. Piper Sandler started coverage on Procter & Gamble in a research note on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price target on the stock. Finally, Wells Fargo & Company reduced their price objective on Procter & Gamble from $190.00 to $176.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Eight research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $179.65.

Procter & Gamble Stock Up 0.5 %

PG stock opened at $161.35 on Monday. The stock has a market cap of $379.98 billion, a P/E ratio of 27.82, a P/E/G ratio of 3.41 and a beta of 0.45. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The stock’s fifty day simple moving average is $169.19 and its two-hundred day simple moving average is $169.42. The Procter & Gamble Company has a 1-year low of $146.28 and a 1-year high of $180.43.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.03. The company had revenue of $21.74 billion during the quarter, compared to analyst estimates of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.83 earnings per share. Analysts expect that The Procter & Gamble Company will post 6.93 EPS for the current year.

Procter & Gamble Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th will be given a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Friday, January 24th. Procter & Gamble’s dividend payout ratio is currently 69.31%.

Insider Buying and Selling

In related news, CEO Gary A. Coombe sold 47,847 shares of Procter & Gamble stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $179.84, for a total value of $8,604,804.48. Following the completion of the sale, the chief executive officer now owns 39,977 shares of the company’s stock, valued at approximately $7,189,463.68. This trade represents a 54.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO R. Alexandra Keith sold 1,992 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $170.00, for a total transaction of $338,640.00. Following the sale, the chief executive officer now directly owns 13,783 shares in the company, valued at approximately $2,343,110. This trade represents a 12.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 75,439 shares of company stock valued at $13,317,460. 0.18% of the stock is owned by company 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.