Sandy Cove Advisors LLC Purchases 2,001 Shares of The Procter & Gamble Company (NYSE:PG)

Sandy Cove Advisors LLC lifted its holdings in The Procter & Gamble Company (NYSE:PG) by 80.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 4,474 shares of the company’s stock after acquiring an additional 2,001 shares during the quarter. Sandy Cove Advisors LLC’s holdings in Procter & Gamble were worth $726,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PG. D.B. Root & Company LLC purchased a new position in shares of Procter & Gamble in the first quarter worth $318,000. Trilogy Capital Inc. raised its stake in shares of Procter & Gamble by 111.2% during the first quarter. Trilogy Capital Inc. now owns 3,763 shares of the company’s stock valued at $611,000 after acquiring an additional 1,981 shares during the last quarter. Red Door Wealth Management LLC boosted its holdings in shares of Procter & Gamble by 2.8% during the first quarter. Red Door Wealth Management LLC now owns 45,822 shares of the company’s stock worth $7,435,000 after purchasing an additional 1,263 shares during the period. Cornerstone Wealth Group LLC increased its holdings in Procter & Gamble by 14.7% during the 1st quarter. Cornerstone Wealth Group LLC now owns 50,652 shares of the company’s stock valued at $8,218,000 after purchasing an additional 6,503 shares during the period. Finally, River Street Advisors LLC raised its position in Procter & Gamble by 4.1% during the 1st quarter. River Street Advisors LLC now owns 6,659 shares of the company’s stock valued at $1,080,000 after purchasing an additional 265 shares during the last quarter. 65.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PG. Argus boosted 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. StockNews.com raised shares of Procter & Gamble from a “hold” rating to a “buy” rating in a research report on Tuesday, June 25th. BNP Paribas assumed coverage on shares of Procter & Gamble in a research report on Monday, June 24th. They issued an “outperform” rating and a $187.00 target price for the company. Barclays boosted their price target on shares of Procter & Gamble from $168.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, April 23rd. Finally, Truist Financial raised Procter & Gamble from a “hold” rating to a “buy” rating and lifted their price objective for the company from $160.00 to $175.00 in a research report on Monday, March 11th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $170.72.

Insider Buying and Selling at Procter & Gamble

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

Procter & Gamble Stock Performance

Shares of PG stock opened at $164.92 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.48 and a current ratio of 0.69. The company has a market capitalization of $389.23 billion, a price-to-earnings ratio of 26.95, a price-to-earnings-growth ratio of 3.35 and a beta of 0.41. The Procter & Gamble Company has a one year low of $141.45 and a one year high of $169.41. The company’s 50-day moving average is $165.60 and its 200 day moving average is $158.89.

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

Procter & Gamble Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Friday, April 19th were given a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a yield of 2.44%. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.94. The ex-dividend date was Thursday, April 18th. Procter & Gamble’s payout ratio is 65.85%.

Procter & Gamble Company 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.