First Dallas Securities Inc. Trims Stake in The Procter & Gamble Company (NYSE:PG)

First Dallas Securities Inc. lowered its position in The Procter & Gamble Company (NYSE:PG) by 14.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,674 shares of the company’s stock after selling 465 shares during the quarter. First Dallas Securities Inc.’s holdings in Procter & Gamble were worth $434,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Hodges Capital Management Inc. raised its stake in shares of Procter & Gamble by 14.7% in the first quarter. Hodges Capital Management Inc. now owns 9,912 shares of the company’s stock valued at $1,608,000 after acquiring an additional 1,273 shares during the period. Occidental Asset Management LLC raised its stake in shares of Procter & Gamble by 14.6% in the first quarter. Occidental Asset Management LLC now owns 2,500 shares of the company’s stock valued at $406,000 after acquiring an additional 318 shares during the period. Independence Bank of Kentucky increased its stake in Procter & Gamble by 7.8% in the 1st quarter. Independence Bank of Kentucky now owns 29,187 shares of the company’s stock worth $4,736,000 after buying an additional 2,110 shares during the period. Norris Perne & French LLP MI increased its stake in Procter & Gamble by 26.3% in the 1st quarter. Norris Perne & French LLP MI now owns 3,145 shares of the company’s stock worth $510,000 after buying an additional 655 shares during the period. Finally, OneAscent Wealth Management LLC increased its stake in Procter & Gamble by 24.6% in the 1st quarter. OneAscent Wealth Management LLC now owns 2,240 shares of the company’s stock worth $363,000 after buying an additional 442 shares during the period. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Procter & Gamble Stock Performance

NYSE:PG traded down $1.70 during trading hours on Friday, hitting $164.92. 9,253,317 shares of the company were exchanged, compared to its average volume of 6,088,934. The stock has a market capitalization of $389.23 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 3.38 and a beta of 0.42. The Procter & Gamble Company has a 52-week low of $141.45 and a 52-week high of $169.41. 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 company’s 50 day moving average price is $165.60 and its 200-day moving average price is $158.73.

Procter & Gamble (NYSE:PG) last released its earnings results on Friday, April 19th. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.10. The company had revenue of $20.20 billion for the quarter, compared to the consensus estimate of $20.43 billion. Procter & Gamble had a net margin of 18.00% and a return on equity of 33.91%. Procter & Gamble’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.37 EPS. As a group, research analysts forecast that The Procter & Gamble Company will post 6.55 earnings per share for the current year.

Procter & Gamble Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th were issued a $1.0065 dividend. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.94. This represents a $4.03 annualized dividend and a dividend yield of 2.44%. The ex-dividend date was Thursday, April 18th. Procter & Gamble’s dividend payout ratio is 65.85%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PG shares. The Goldman Sachs Group started coverage on shares of Procter & Gamble in a research note on Friday, March 1st. They issued a “neutral” rating and a $168.00 price target on the stock. Jefferies Financial Group raised their price target on shares of Procter & Gamble from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Truist Financial raised shares of 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 note on Monday, March 11th. StockNews.com raised shares of Procter & Gamble from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, BNP Paribas started coverage on shares of Procter & Gamble in a report on Monday, June 24th. They issued an “outperform” rating and a $187.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $170.72.

Insider Activity

In other news, CEO Sundar G. Raman sold 31,924 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $166.95, for a total value of $5,329,711.80. Following the sale, the chief executive officer now directly owns 19,042 shares of the company’s stock, valued at approximately $3,179,061.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO R. Alexandra Keith sold 855 shares of the business’s 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 transaction, the chief executive officer now directly owns 4,004 shares in the company, valued at approximately $634,634. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sundar G. Raman sold 31,924 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $166.95, for a total transaction of $5,329,711.80. Following the completion of the transaction, the chief executive officer now owns 19,042 shares of the company’s stock, valued at $3,179,061.90. The disclosure for this sale can be found here. Insiders have sold 154,544 shares of company stock valued at $25,413,051 in the last ninety days. Insiders own 0.17% of the company’s stock.

About Procter & Gamble

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.