Fortitude Advisory Group L.L.C. Raises Holdings in The Procter & Gamble Company (NYSE:PG)

Fortitude Advisory Group L.L.C. lifted its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 6.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 6,214 shares of the company’s stock after acquiring an additional 400 shares during the period. Fortitude Advisory Group L.L.C.’s holdings in Procter & Gamble were worth $911,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Cerity Partners LLC lifted its holdings in shares of Procter & Gamble by 106.2% during the fourth quarter. Cerity Partners LLC now owns 6,134,455 shares of the company’s stock worth $898,943,000 after purchasing an additional 3,159,796 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Procter & Gamble by 9.4% during the third quarter. Wellington Management Group LLP now owns 35,608,913 shares of the company’s stock worth $5,193,916,000 after purchasing an additional 3,047,557 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Procter & Gamble by 13,850.3% during the fourth quarter. International Assets Investment Management LLC now owns 2,747,379 shares of the company’s stock worth $402,601,000 after purchasing an additional 2,727,685 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Procter & Gamble by 235.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,231,032 shares of the company’s stock valued at $473,475,000 after acquiring an additional 2,268,805 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in Procter & Gamble in the third quarter valued at approximately $246,412,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Insider Buying and Selling at Procter & Gamble

In other news, insider Susan Street Whaley sold 3,865 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $160.60, for a total value of $620,719.00. Following the transaction, the insider now owns 11,886 shares of the company’s stock, valued at approximately $1,908,891.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Gary A. Coombe sold 22,000 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $161.32, for a total transaction of $3,549,040.00. Following the transaction, the chief executive officer now owns 36,845 shares of the company’s stock, valued at approximately $5,943,835.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Susan Street Whaley sold 3,865 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $160.60, for a total value of $620,719.00. Following the transaction, the insider now directly owns 11,886 shares in the company, valued at approximately $1,908,891.60. The disclosure for this sale can be found here. Insiders sold a total of 86,865 shares of company stock worth $14,059,180 in the last three months. 0.17% of the stock is owned by corporate insiders.

Procter & Gamble Price Performance

Shares of PG traded up $0.61 during trading hours on Thursday, hitting $164.01. 1,074,745 shares of the stock were exchanged, compared to its average volume of 6,878,091. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.48 and a current ratio of 0.69. The Procter & Gamble Company has a 12-month low of $141.45 and a 12-month high of $164.32. The company has a market cap of $387.09 billion, a price-to-earnings ratio of 26.70, a price-to-earnings-growth ratio of 3.31 and a beta of 0.43. The stock’s 50-day moving average price is $159.88 and its two-hundred day moving average price is $153.97.

Procter & Gamble (NYSE:PG) last issued its earnings results on Friday, April 19th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.10. The company had revenue of $20.20 billion during the quarter, compared to analysts’ expectations of $20.43 billion. Procter & Gamble had a return on equity of 33.91% and a net margin of 18.00%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business earned $1.37 EPS. Research analysts expect that The Procter & Gamble Company will post 6.55 earnings per share for the current year.

Procter & Gamble Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be issued a $1.0065 dividend. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.94. This represents a $4.03 annualized dividend and a yield of 2.45%. The ex-dividend date is Thursday, April 18th. Procter & Gamble’s dividend payout ratio is presently 65.85%.

Wall Street Analysts Forecast Growth

PG has been the subject of a number of analyst reports. StockNews.com downgraded Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Argus boosted their price target on Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Raymond James boosted their price target on Procter & Gamble from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Truist Financial raised Procter & Gamble from a “hold” rating to a “buy” rating and boosted their price target for the company from $160.00 to $175.00 in a report on Monday, March 11th. Finally, Royal Bank of Canada upped their target price on Procter & Gamble from $156.00 to $157.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 24th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $169.76.

Procter & Gamble Profile

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.