Concurrent Investment Advisors LLC Buys 25,059 Shares of Procter & Gamble Company (The) (NYSE:PG)

Concurrent Investment Advisors LLC lifted its stake in Procter & Gamble Company (The) (NYSE:PG) by 26.4% in the first quarter, Holdings Channel.com reports. The fund owned 120,002 shares of the company’s stock after purchasing an additional 25,059 shares during the period. Concurrent Investment Advisors LLC’s holdings in Procter & Gamble were worth $20,451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Unique Wealth LLC boosted its holdings in shares of Procter & Gamble by 2.9% in the first quarter. Unique Wealth LLC now owns 2,141 shares of the company’s stock worth $365,000 after acquiring an additional 61 shares during the period. Stableford Capital II LLC boosted its holdings in shares of Procter & Gamble by 1.1% in the first quarter. Stableford Capital II LLC now owns 5,817 shares of the company’s stock worth $993,000 after acquiring an additional 61 shares during the period. Bernard Wealth Management Corp. boosted its holdings in shares of Procter & Gamble by 20.2% in the first quarter. Bernard Wealth Management Corp. now owns 375 shares of the company’s stock worth $64,000 after acquiring an additional 63 shares during the period. Kolinsky Wealth Management LLC boosted its holdings in shares of Procter & Gamble by 1.1% in the fourth quarter. Kolinsky Wealth Management LLC now owns 5,738 shares of the company’s stock worth $962,000 after acquiring an additional 64 shares during the period. Finally, Retirement Planning Group LLC raised its position in shares of Procter & Gamble by 1.4% in the fourth quarter. Retirement Planning Group LLC now owns 4,704 shares of the company’s stock worth $789,000 after buying an additional 64 shares in the last quarter. 65.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Truist Financial lowered their price objective on Procter & Gamble from $185.00 to $180.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Bank of America lowered their price objective on Procter & Gamble from $190.00 to $180.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Piper Sandler increased their price objective on Procter & Gamble from $160.00 to $164.00 and gave the stock a “neutral” rating in a research report on Monday, May 5th. Erste Group Bank downgraded Procter & Gamble from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 30th. Finally, Royal Bank Of Canada upgraded Procter & Gamble from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $164.00 to $177.00 in a research report on Friday, April 25th. Eight equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $178.45.

Insider Activity

In other Procter & Gamble news, CEO Jennifer L. Davis sold 1,000 shares of the firm’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total value of $161,380.00. Following the sale, the chief executive officer owned 51,965 shares of the company’s stock, valued at $8,386,111.70. This trade represents a 1.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the transaction, the insider directly owned 25,182 shares of the company’s stock, valued at approximately $3,995,627.94. This trade represents a 29.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Procter & Gamble Stock Down 0.3%

PG opened at $160.72 on Friday. The company has a market cap of $376.82 billion, a P/E ratio of 25.51, a P/E/G ratio of 4.58 and a beta of 0.40. The business’s 50-day moving average price is $162.10 and its 200-day moving average price is $165.30. The company has a current ratio of 0.71, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47. Procter & Gamble Company has a 12 month low of $156.58 and a 12 month high of $180.43.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Thursday, April 24th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $1.53 by $0.01. The firm had revenue of $19.78 billion for the quarter, compared to the consensus estimate of $20.42 billion. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.46%. The company’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.52 earnings per share. On average, equities analysts expect that Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, April 21st were issued a $1.0568 dividend. The ex-dividend date of this dividend was Monday, April 21st. This represents a $4.23 annualized dividend and a dividend yield of 2.63%. This is an increase from Procter & Gamble’s previous quarterly dividend of $1.01. Procter & Gamble’s payout ratio is currently 67.14%.

About Procter & Gamble

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.