Burling Wealth Partners LLC Takes $6.04 Million Position in The Procter & Gamble Company (NYSE:PG)

Burling Wealth Partners LLC bought a new position in The Procter & Gamble Company (NYSE:PG) during the fourth quarter, Holdings Channel reports. The institutional investor bought 36,002 shares of the company’s stock, valued at approximately $6,036,000. Procter & Gamble comprises about 1.2% of Burling Wealth Partners LLC’s portfolio, making the stock its 21st largest position.

Other institutional investors also recently made changes to their positions in the company. NewSquare Capital LLC increased its stake in shares of Procter & Gamble by 933.3% in the fourth quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock valued at $26,000 after purchasing an additional 140 shares during the period. Hoey Investments Inc. grew its holdings in Procter & Gamble by 321.7% in the 4th quarter. Hoey Investments Inc. now owns 194 shares of the company’s stock worth $33,000 after buying an additional 148 shares in the last quarter. LFA Lugano Financial Advisors SA bought a new stake in Procter & Gamble during the 4th quarter valued at $34,000. Atlantic Private Wealth LLC boosted its position in Procter & Gamble by 95.3% during the 4th quarter. Atlantic Private Wealth LLC now owns 207 shares of the company’s stock worth $35,000 after acquiring an additional 101 shares during the period. Finally, Prudent Man Investment Management Inc. bought a new position in shares of Procter & Gamble in the fourth quarter worth $38,000. 65.77% of the stock is owned by institutional investors.

Procter & Gamble Stock Down 1.3 %

Shares of Procter & Gamble stock opened at $165.66 on Thursday. The Procter & Gamble Company has a 12-month low of $156.69 and a 12-month high of $180.43. The stock has a market capitalization of $388.46 billion, a P/E ratio of 26.38, a PEG ratio of 3.76 and a beta of 0.43. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50. The stock has a 50 day moving average price of $168.31 and a two-hundred day moving average price of $168.43.

Procter & Gamble (NYSE:PG) last released its earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.02. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The firm had revenue of $21.88 billion for the quarter, compared to analyst estimates of $21.66 billion. During the same quarter last year, the firm posted $1.84 EPS. The company’s revenue was up 2.1% on a year-over-year basis. Equities analysts expect that The Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, April 21st will be given a dividend of $1.0568 per share. The ex-dividend date of this dividend is Monday, April 21st. This represents a $4.23 dividend on an annualized basis and a yield of 2.55%. This is a positive change from Procter & Gamble’s previous quarterly dividend of $1.01. Procter & Gamble’s payout ratio is 67.20%.

Insider Activity at Procter & Gamble

In related news, CEO Gary A. Coombe sold 35,000 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $173.68, for a total value of $6,078,800.00. Following the completion of the sale, the chief executive officer now owns 22,051 shares in the company, valued at approximately $3,829,817.68. This trade represents a 61.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PG shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $164.00 price objective on shares of Procter & Gamble in a report on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of Procter & Gamble from $181.00 to $172.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Wells Fargo & Company raised their price objective on shares of Procter & Gamble from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Barclays reaffirmed an “equal weight” rating on shares of Procter & Gamble in a research note on Thursday, March 27th. Finally, Piper Sandler dropped their price objective on Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating on the stock in a research note on Monday, February 24th. Seven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Procter & Gamble presently has an average rating of “Moderate Buy” and an average target price of $181.50.

Procter & Gamble Company Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.