HFR Wealth Management LLC Has $11.72 Million Holdings in The Procter & Gamble Company (NYSE:PG)

HFR Wealth Management LLC cut its holdings in The Procter & Gamble Company (NYSE:PG) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 69,887 shares of the company’s stock after selling 518 shares during the period. Procter & Gamble comprises approximately 2.9% of HFR Wealth Management LLC’s investment portfolio, making the stock its 18th biggest holding. HFR Wealth Management LLC’s holdings in Procter & Gamble were worth $11,717,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Steward Partners Investment Advisory LLC raised its holdings in shares of Procter & Gamble by 3.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 291,204 shares of the company’s stock valued at $48,820,000 after purchasing an additional 9,429 shares during the last quarter. Wernau Asset Management Inc. acquired a new stake in shares of Procter & Gamble in the fourth quarter valued at approximately $2,475,000. Meridian Wealth Management LLC raised its holdings in shares of Procter & Gamble by 1.1% in the fourth quarter. Meridian Wealth Management LLC now owns 58,796 shares of the company’s stock valued at $9,857,000 after purchasing an additional 644 shares during the last quarter. Kelly Financial Group LLC acquired a new position in Procter & Gamble during the fourth quarter worth $746,000. Finally, Detalus Advisors LLC increased its holdings in Procter & Gamble by 3.8% during the fourth quarter. Detalus Advisors LLC now owns 7,853 shares of the company’s stock worth $1,317,000 after buying an additional 288 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Procter & Gamble Trading Up 1.0 %

Shares of Procter & Gamble stock opened at $175.50 on Tuesday. The firm has a 50-day moving average of $166.44 and a 200-day moving average of $169.61. The stock has a market cap of $411.52 billion, a PE ratio of 27.95, a PEG ratio of 3.76 and a beta of 0.45. The Procter & Gamble Company has a 52-week low of $153.52 and a 52-week high of $180.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76.

Procter & Gamble (NYSE:PG) last announced 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. The company had revenue of $21.88 billion during the quarter, compared to analysts’ expectations of $21.66 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. Procter & Gamble’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.84 earnings per share. As a group, sell-side analysts forecast that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th were given a $1.0065 dividend. The ex-dividend date was Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.29%. Procter & Gamble’s payout ratio is presently 64.01%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PG. Piper Sandler lowered their target price on shares of Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating on the stock in a report on Monday, February 24th. UBS Group restated a “buy” rating on shares of Procter & Gamble in a report on Monday, February 10th. DA Davidson restated a “buy” rating and set a $209.00 target price on shares of Procter & Gamble in a report on Thursday, January 23rd. Barclays boosted their target price on shares of Procter & Gamble from $155.00 to $159.00 and gave the stock an “equal weight” rating in a report on Thursday, January 23rd. Finally, Wells Fargo & Company boosted their target price on shares of Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.11.

Insider Buying and Selling

In related news, insider Marc S. Pritchard sold 90,450 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the completion of the sale, the insider now owns 172,814 shares of the company’s stock, valued at $28,313,845.76. This represents a 34.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Gary A. Coombe sold 35,000 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the sale, the chief executive officer now directly owns 22,051 shares of the company’s stock, valued at $3,829,817.68. This represents a 61.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 143,450 shares of company stock valued at $23,988,008 over the last quarter. 0.18% of the stock is owned by company insiders.

Procter & Gamble 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.