Armstrong Henry H Associates Inc. Increases Holdings in The Procter & Gamble Company (NYSE:PG)

Armstrong Henry H Associates Inc. boosted its position in The Procter & Gamble Company (NYSE:PGGet Rating) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 416,384 shares of the company’s stock after acquiring an additional 3,265 shares during the period. Procter & Gamble accounts for 7.6% of Armstrong Henry H Associates Inc.’s portfolio, making the stock its 4th largest position. Armstrong Henry H Associates Inc.’s holdings in Procter & Gamble were worth $59,872,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Northcape Wealth Management LLC grew its position in Procter & Gamble by 95.2% during the 1st quarter. Northcape Wealth Management LLC now owns 24,189 shares of the company’s stock worth $3,696,000 after acquiring an additional 11,800 shares during the last quarter. First Affirmative Financial Network grew its holdings in shares of Procter & Gamble by 6.0% in the first quarter. First Affirmative Financial Network now owns 1,934 shares of the company’s stock valued at $296,000 after acquiring an additional 109 shares in the last quarter. NorthCrest Asset Manangement LLC increased its position in Procter & Gamble by 624.7% in the first quarter. NorthCrest Asset Manangement LLC now owns 131,952 shares of the company’s stock worth $20,163,000 after buying an additional 113,745 shares during the last quarter. Calamos Wealth Management LLC grew its stake in shares of Procter & Gamble by 3.8% during the 1st quarter. Calamos Wealth Management LLC now owns 20,240 shares of the company’s stock worth $3,093,000 after acquiring an additional 733 shares during the period. Finally, Nvest Financial LLC bought a new position in Procter & Gamble in the 1st quarter worth about $432,000. Institutional investors and hedge funds own 63.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PG. Barclays decreased their price target on Procter & Gamble from $157.00 to $154.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 2nd. Deutsche Bank Aktiengesellschaft reduced their price objective on Procter & Gamble from $171.00 to $157.00 and set a “buy” rating for the company in a research report on Tuesday, June 21st. Truist Financial dropped their price objective on Procter & Gamble from $175.00 to $160.00 and set a “buy” rating for the company in a research note on Monday, August 1st. Evercore ISI set a $170.00 price objective on Procter & Gamble in a research report on Monday, June 20th. Finally, JPMorgan Chase & Co. reduced their price objective on Procter & Gamble from $165.00 to $156.00 in a report on Thursday, July 21st. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.93.

Procter & Gamble Price Performance

Shares of PG opened at $136.21 on Friday. The company has a market capitalization of $324.93 billion, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 3.49 and a beta of 0.35. The Procter & Gamble Company has a fifty-two week low of $129.50 and a fifty-two week high of $165.35. The firm has a 50-day simple moving average of $142.58 and a 200-day simple moving average of $147.19. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.45 and a current ratio of 0.65.

Procter & Gamble (NYSE:PGGet Rating) last issued its quarterly earnings data on Friday, July 29th. The company reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.02). Procter & Gamble had a return on equity of 32.67% and a net margin of 18.39%. The business had revenue of $19.52 billion for the quarter, compared to analysts’ expectations of $19.41 billion. During the same period last year, the business earned $1.13 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities research analysts anticipate that The Procter & Gamble Company will post 5.94 earnings per share for the current year.

Procter & Gamble Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Friday, July 22nd were issued a dividend of $0.913 per share. The ex-dividend date of this dividend was Thursday, July 21st. This represents a $3.65 annualized dividend and a dividend yield of 2.68%. Procter & Gamble’s payout ratio is 62.82%.

Insider Activity at Procter & Gamble

In other news, insider Susan Street Whaley sold 907 shares of the business’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $149.33, for a total value of $135,442.31. Following the completion of the sale, the insider now owns 6,253 shares of the company’s stock, valued at approximately $933,760.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Andre Schulten sold 987 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $149.33, for a total value of $147,388.71. Following the completion of the sale, the chief financial officer now directly owns 27,330 shares of the company’s stock, valued at approximately $4,081,188.90. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Susan Street Whaley sold 907 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $149.33, for a total transaction of $135,442.31. Following the completion of the sale, the insider now owns 6,253 shares in the company, valued at $933,760.49. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 289,321 shares of company stock worth $42,559,426. 0.26% of the stock is currently owned by corporate insiders.

Procter & Gamble Company Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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