Cherrydale Wealth Management LLC Takes $245,000 Position in The Procter & Gamble Company (NYSE:PG)

Cherrydale Wealth Management LLC purchased a new stake in shares of The Procter & Gamble Company (NYSE:PG) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,509 shares of the company’s stock, valued at approximately $245,000.

A number of other hedge funds have also recently made changes to their positions in PG. Wellington Management Group LLP raised its position in shares of Procter & Gamble by 9.4% during the third quarter. Wellington Management Group LLP now owns 35,608,913 shares of the company’s stock worth $5,193,916,000 after acquiring an additional 3,047,557 shares during the last quarter. Norges Bank bought a new position in shares of Procter & Gamble during the fourth quarter worth about $3,956,117,000. Charles Schwab Investment Management Inc. raised its position in shares of Procter & Gamble by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 16,209,425 shares of the company’s stock worth $2,336,552,000 after acquiring an additional 206,165 shares during the last quarter. Royal Bank of Canada raised its position in shares of Procter & Gamble by 3.2% during the third quarter. Royal Bank of Canada now owns 11,170,305 shares of the company’s stock worth $1,629,299,000 after acquiring an additional 346,925 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Procter & Gamble by 5.6% during the fourth quarter. Fisher Asset Management LLC now owns 10,556,988 shares of the company’s stock worth $1,547,021,000 after acquiring an additional 559,358 shares during the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

Procter & Gamble Stock Up 0.2 %

PG stock opened at $168.52 on Tuesday. The stock’s fifty day simple moving average is $164.85 and its two-hundred day simple moving average is $158.32. The company has a current ratio of 0.69, a quick ratio of 0.48 and a debt-to-equity ratio of 0.49. The Procter & Gamble Company has a 1-year low of $141.45 and a 1-year high of $169.41. The stock has a market cap of $397.73 billion, a P/E ratio of 27.54, a P/E/G ratio of 3.42 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Friday, April 19th. The company reported $1.52 EPS for the quarter, beating 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 firm had revenue of $20.20 billion for the quarter, compared to analysts’ expectations of $20.43 billion. During the same quarter in the prior year, the firm earned $1.37 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Analysts expect that The Procter & Gamble Company will post 6.55 EPS for the current year.

Procter & Gamble Increases Dividend

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

Insider Activity

In other news, CEO R. Alexandra Keith sold 855 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $158.50, for a total transaction of $135,517.50. Following the transaction, the chief executive officer now owns 4,004 shares of the company’s stock, valued at approximately $634,634. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Sundar G. Raman sold 31,924 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $166.95, for a total transaction of $5,329,711.80. Following the sale, the chief executive officer now directly owns 19,042 shares in the company, valued at approximately $3,179,061.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO R. Alexandra Keith sold 855 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $158.50, for a total value of $135,517.50. Following the sale, the chief executive officer now owns 4,004 shares in the company, valued at $634,634. The disclosure for this sale can be found here. Insiders have sold 154,544 shares of company stock valued at $25,413,051 in the last 90 days. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PG shares. BNP Paribas started coverage on Procter & Gamble in a report on Monday. They issued an “outperform” rating and a $187.00 target price for the company. The Goldman Sachs Group started coverage on Procter & Gamble in a report on Friday, March 1st. They issued a “neutral” rating and a $168.00 target price for the company. Truist Financial upgraded Procter & Gamble from a “hold” rating to a “buy” rating and lifted their target price for the stock from $160.00 to $175.00 in a report on Monday, March 11th. Deutsche Bank Aktiengesellschaft lowered their target price on Procter & Gamble from $172.00 to $171.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Finally, Argus lifted their target price on Procter & Gamble from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $170.72.

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.