HighPoint Advisor Group LLC Takes Position in The Procter & Gamble Company (NYSE:PG)

HighPoint Advisor Group LLC bought a new position in The Procter & Gamble Company (NYSE:PG) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 110,468 shares of the company’s stock, valued at approximately $17,696,000. Procter & Gamble accounts for about 1.3% of HighPoint Advisor Group LLC’s investment portfolio, making the stock its 12th largest position.

Other hedge funds have also added to or reduced their stakes in the company. Advantage Trust Co purchased a new stake in Procter & Gamble during the fourth quarter valued at approximately $28,000. Naples Money Management LLC bought a new position in Procter & Gamble in the 4th quarter worth $29,000. Wyrmwood Management LLC purchased a new position in Procter & Gamble during the fourth quarter valued at $29,000. Transcendent Capital Group LLC bought a new stake in Procter & Gamble during the fourth quarter valued at about $31,000. Finally, MeadowBrook Investment Advisors LLC purchased a new stake in Procter & Gamble in the fourth quarter worth about $33,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Procter & Gamble news, insider Balaji Purushothaman sold 28,369 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $161.49, for a total value of $4,581,309.81. Following the completion of the transaction, the insider now owns 11,507 shares of the company’s stock, valued at $1,858,265.43. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Procter & Gamble news, CEO Gary A. Coombe sold 21,388 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $164.98, for a total transaction of $3,528,592.24. Following the completion of the transaction, the chief executive officer now directly owns 36,854 shares of the company’s stock, valued at approximately $6,080,172.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Balaji Purushothaman sold 28,369 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $161.49, for a total transaction of $4,581,309.81. Following the transaction, the insider now owns 11,507 shares of the company’s stock, valued at $1,858,265.43. The disclosure for this sale can be found here. Insiders have sold a total of 154,544 shares of company stock worth $25,413,051 over the last 90 days. 0.17% of the stock is currently owned by corporate insiders.

Procter & Gamble Stock Up 0.6 %

NYSE:PG opened at $168.56 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.69 and a quick ratio of 0.48. The firm has a market cap of $397.83 billion, a PE ratio of 27.54, a price-to-earnings-growth ratio of 3.40 and a beta of 0.42. The company has a 50-day moving average of $163.86 and a 200 day moving average of $157.75. The Procter & Gamble Company has a 1-year low of $141.45 and a 1-year high of $168.97.

Procter & Gamble (NYSE:PG) last posted its earnings results on Friday, April 19th. The company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.10. Procter & Gamble had a return on equity of 33.91% and a net margin of 18.00%. The company had revenue of $20.20 billion during the quarter, compared to analyst estimates of $20.43 billion. During the same quarter in the prior year, the business earned $1.37 earnings per share. Procter & Gamble’s revenue was up .6% on a year-over-year basis. As a group, research analysts anticipate that The Procter & Gamble Company will post 6.55 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th were paid a dividend of $1.0065 per share. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.94. The ex-dividend date was Thursday, April 18th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.39%. Procter & Gamble’s payout ratio is presently 65.85%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PG shares. Argus lifted their target price on Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Jefferies Financial Group boosted their target price on shares of Procter & Gamble from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Truist Financial raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and raised their target price for the company from $160.00 to $175.00 in a research note on Monday, March 11th. The Goldman Sachs Group began coverage on shares of Procter & Gamble in a research note on Friday, March 1st. They issued a “neutral” rating and a $168.00 price target on the stock. Finally, StockNews.com lowered Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Monday. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Procter & Gamble has a consensus rating of “Moderate Buy” and a consensus price target of $169.76.

Procter & Gamble Profile

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.