Northeast Financial Group Inc. Invests $217,000 in The Procter & Gamble Company (NYSE:PG)

Northeast Financial Group Inc. acquired a new position in shares of The Procter & Gamble Company (NYSE:PG) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,339 shares of the company’s stock, valued at approximately $217,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advantage Trust Co bought a new position in shares of Procter & Gamble during the 4th quarter worth about $28,000. Wyrmwood Management LLC acquired a new stake in shares of Procter & Gamble during the 4th quarter worth about $29,000. Naples Money Management LLC acquired a new stake in shares of Procter & Gamble during the 4th quarter worth about $29,000. Transcendent Capital Group LLC acquired a new stake in shares of Procter & Gamble during the 4th quarter worth about $31,000. Finally, Criterion Capital Advisors LLC acquired a new stake in shares of Procter & Gamble during the 4th quarter worth about $33,000. 65.77% of the stock is owned by institutional investors.

Procter & Gamble Stock Down 0.5 %

Shares of NYSE:PG opened at $166.62 on Friday. The Procter & Gamble Company has a one year low of $141.45 and a one year high of $169.41. The company has a 50 day moving average of $165.28 and a 200-day moving average of $158.54. 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 stock has a market cap of $393.25 billion, a price-to-earnings ratio of 27.23, a P/E/G ratio of 3.40 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Friday, April 19th. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.10. Procter & Gamble had a net margin of 18.00% and a return on equity of 33.91%. The business had revenue of $20.20 billion for the quarter, compared to analyst estimates of $20.43 billion. During the same quarter last year, the firm earned $1.37 EPS. Procter & Gamble’s quarterly revenue was up .6% compared to the same quarter last year. On average, sell-side analysts forecast that The Procter & Gamble Company will post 6.55 earnings per share for the current year.

Procter & Gamble Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors 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 of this dividend was Thursday, April 18th. This represents a $4.03 annualized dividend and a yield of 2.42%. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.85%.

Insider Buying and Selling

In related news, insider Balaji Purushothaman sold 28,369 shares of Procter & Gamble stock in a transaction that occurred 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 approximately $1,858,265.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Procter & Gamble news, CEO R. Alexandra Keith sold 855 shares of Procter & Gamble stock in a transaction that occurred 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 transaction, the chief executive officer now owns 4,004 shares of the company’s stock, valued at $634,634. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Balaji Purushothaman sold 28,369 shares of Procter & Gamble stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 11,507 shares in the company, valued at approximately $1,858,265.43. 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. 0.17% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Truist Financial upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and increased their target price for the stock from $160.00 to $175.00 in a research report on Monday, March 11th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Procter & Gamble from $172.00 to $171.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. StockNews.com upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating in a research report on Tuesday. Argus raised their price objective on shares of Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, BNP Paribas began coverage on shares of Procter & Gamble in a research report on Monday. They issued an “outperform” rating and a $187.00 price objective for the company. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $170.72.

About Procter & Gamble

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.