Quantum Portfolio Management LLC has significantly increased its investment in the Procter & Gamble Company (NYSE: PG) by purchasing an additional 5,835 shares during the second quarter of 2023. This move resulted in a total ownership of 7,460 shares, reflecting a remarkable increase of 359.1% in their position. According to the most recent disclosure with the Securities and Exchange Commission, Quantum Portfolio Management’s stake in Procter & Gamble is valued at approximately $1,189,000.
Several other institutional investors also expanded their holdings in Procter & Gamble during the same quarter. Shepherd Financial Partners LLC raised its position by 2.1%, acquiring 389 additional shares for a total of 19,100 shares now valued at $3,043,000. Morton Community Bank boosted its stake by 4.3%, bringing its total to 21,746 shares valued at $3,465,000 after purchasing 890 shares. Avestar Capital LLC increased its holdings by 3.2% with an additional 1,530 shares, amounting to 49,090 shares valued at $7,821,000.
Financial & Tax Architects LLC also lifted its position by 2.0% during the second quarter, now owning 40,283 shares worth $6,418,000. StoneX Group Inc. made a more modest increase of 0.8%, acquiring 482 shares for a total of 57,910 shares valued at $9,226,000. Overall, institutional investors hold approximately 65.77% of Procter & Gamble’s stock.
Analysts Adjust Price Targets
In addition to the increased investments, several analysts have recently revised their price targets for Procter & Gamble. Weiss Ratings reaffirmed a “hold (C+)” rating. On September 25, Wells Fargo & Company lowered its price objective from $173.00 to $170.00, maintaining an “overweight” rating. UBS Group adjusted its target from $180.00 to $176.00 and retained a “buy” rating. Similarly, Bank of America revised its target from $180.00 to $174.00, also issuing a “buy” rating.
Morgan Stanley set a price objective of $175.00 for the stock. Currently, twelve research analysts have rated Procter & Gamble’s shares as a “buy,” while nine analysts have given it a “hold” rating. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $171.53.
Insider Activity
In related news, significant insider trading has also occurred. On October 2, CEO Jennifer L. Davis sold 3,227 shares at an average price of $152.23, totaling $491,246.21. Following this transaction, she holds 61,764 shares valued at approximately $9,402,333.72, representing a 4.97% decrease in her position.
CEO Jon R. Moeller also sold shares on the same day, disposing of 11,684 shares for a total of $1,778,655.32. After the sale, he retains 319,932 shares valued at around $48,703,248.36, marking a 3.52% decrease in his stake. Over the past ninety days, insiders have sold 30,308 shares, amounting to $4,611,852. Currently, insiders own 0.20% of the company’s stock.
Procter & Gamble’s Financial Performance
As of October 27, 2023, Procter & Gamble shares opened at $143.33. The company maintains a debt-to-equity ratio of 0.46, a quick ratio of 0.51, and a current ratio of 0.71. The firm has recorded a fifty-two-week low of $142.51 and a high of $179.99. The 50-day moving average stands at $149.10, while the two-hundred-day moving average is $155.23. Procter & Gamble boasts a market capitalization of $334.91 billion, a P/E ratio of 20.92, and a P/E/G ratio of 4.39.
In its latest earnings report on October 24, Procter & Gamble announced earnings of $1.99 per share, surpassing analysts’ expectations of $1.90 by $0.09. The company recorded revenue of $22.39 billion, exceeding estimates of $22.23 billion. Procter & Gamble has set its fiscal year 2026 earnings guidance at $6.830 to $7.100 per share.
Dividend Announcement
The company also declared a quarterly dividend recently, which was paid on November 17. Shareholders of record on October 24 received a dividend of $1.0568 per share. This represents an annualized dividend of $4.23 and a yield of 2.9%. The current dividend payout ratio stands at 61.75%.
Procter & Gamble continues to focus on its diverse range of branded consumer packaged goods across various segments, including Beauty, Grooming, Health Care, and more. The company’s activities remain closely monitored by investors and analysts alike as it navigates the evolving market landscape.
