Morris Financial Concepts Inc. Has $436,000 Stock Position in The Procter & Gamble Company (NYSE:PG)

Morris Financial Concepts Inc. trimmed its position in shares of The Procter & Gamble Company (NYSE:PG) by 12.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,684 shares of the company’s stock after selling 397 shares during the quarter. Morris Financial Concepts Inc.’s holdings in Procter & Gamble were worth $436,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in Procter & Gamble in the 4th quarter valued at about $3,956,117,000. Cerity Partners LLC increased its holdings in shares of Procter & Gamble by 106.2% in the fourth quarter. Cerity Partners LLC now owns 6,134,455 shares of the company’s stock valued at $898,943,000 after purchasing an additional 3,159,796 shares in the last quarter. Wellington Management Group LLP raised its position in Procter & Gamble by 9.4% in the 3rd quarter. Wellington Management Group LLP now owns 35,608,913 shares of the company’s stock worth $5,193,916,000 after purchasing an additional 3,047,557 shares during the last quarter. International Assets Investment Management LLC boosted its position in Procter & Gamble by 13,850.3% in the 4th quarter. International Assets Investment Management LLC now owns 2,747,379 shares of the company’s stock valued at $402,601,000 after buying an additional 2,727,685 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Procter & Gamble by 235.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,231,032 shares of the company’s stock valued at $473,475,000 after buying an additional 2,268,805 shares during the period. Institutional investors and hedge funds own 65.77% of the company’s stock.

Insider Activity

In other Procter & Gamble news, CEO R. Alexandra Keith sold 855 shares of the business’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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Procter & Gamble news, CEO R. Alexandra Keith sold 855 shares of the 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 completion of the sale, the chief executive officer now owns 4,004 shares in the company, valued at $634,634. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Moses Victor Javier Aguilar sold 9,149 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $167.72, for a total transaction of $1,534,470.28. Following the transaction, the insider now owns 12,929 shares in the company, valued at $2,168,451.88. The disclosure for this sale can be found here. Insiders sold 154,544 shares of company stock worth $25,413,051 in the last quarter. Corporate insiders own 0.17% of the company’s stock.

Procter & Gamble Stock Performance

Shares of Procter & Gamble stock opened at $162.72 on Tuesday. 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 $384.04 billion, a price-to-earnings ratio of 26.59, a price-to-earnings-growth ratio of 3.35 and a beta of 0.41. The stock’s 50-day moving average is $165.60 and its 200-day moving average is $158.89. The Procter & Gamble Company has a one year low of $141.45 and a one year high of $169.41.

Procter & Gamble (NYSE:PG) last released its earnings results on Friday, April 19th. The company reported $1.52 EPS for the quarter, beating the consensus estimate 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 previous year, the business posted $1.37 EPS. The business’s quarterly revenue was up .6% compared to the same quarter last year. Equities analysts predict that The Procter & Gamble Company will post 6.55 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th were given a dividend of $1.0065 per share. The ex-dividend date was Thursday, April 18th. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.94. This represents a $4.03 annualized dividend and a yield of 2.47%. Procter & Gamble’s payout ratio is 65.85%.

Wall Street Analyst Weigh In

PG has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft lowered their price objective on Procter & Gamble from $172.00 to $171.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Jefferies Financial Group increased their price objective on shares of Procter & Gamble from $175.00 to $182.00 and gave the company a “buy” rating in a 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, June 25th. Truist Financial upgraded Procter & Gamble from a “hold” rating to a “buy” rating and raised their price target for the stock from $160.00 to $175.00 in a research report on Monday, March 11th. Finally, BNP Paribas started coverage on Procter & Gamble in a report on Monday, June 24th. 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 assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $170.72.

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.