Cvfg LLC Takes $681,000 Position in The Procter & Gamble Company (NYSE:PG)

Cvfg LLC bought a new position in shares of The Procter & Gamble Company (NYSE:PG) in the 4th quarter, Holdings Channel reports. The fund bought 4,062 shares of the company’s stock, valued at approximately $681,000.

A number of other hedge funds have also added to or reduced their stakes in PG. Itau Unibanco Holding S.A. bought a new stake in Procter & Gamble in the second quarter valued at $28,000. RPg Family Wealth Advisory LLC acquired a new position in Procter & Gamble during the 3rd quarter worth approximately $33,000. Quest Partners LLC bought a new position in Procter & Gamble in the second quarter worth approximately $36,000. Costello Asset Management INC grew its stake in Procter & Gamble by 2,142.9% in the third quarter. Costello Asset Management INC now owns 314 shares of the company’s stock valued at $54,000 after acquiring an additional 300 shares during the period. Finally, William B. Walkup & Associates Inc. bought a new stake in shares of Procter & Gamble during the second quarter valued at approximately $58,000. 65.77% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Balaji Purushothaman sold 12,800 shares of Procter & Gamble stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $172.73, for a total value of $2,210,944.00. Following the completion of the transaction, the insider now directly owns 11,595 shares in the company, valued at approximately $2,002,804.35. The trade was a 52.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO R. Alexandra Keith sold 1,992 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $170.00, for a total value of $338,640.00. Following the sale, the chief executive officer now owns 13,783 shares in the company, valued at approximately $2,343,110. The trade was a 12.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 75,439 shares of company stock valued at $13,317,460 over the last quarter. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Piper Sandler assumed coverage on shares of Procter & Gamble in a research report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price target for the company. Wells Fargo & Company decreased their target price on shares of Procter & Gamble from $190.00 to $176.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Barclays dropped their price target on shares of Procter & Gamble from $163.00 to $155.00 and set an “equal weight” rating on the stock in a research report on Friday. Morgan Stanley increased their price objective on Procter & Gamble from $174.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Finally, Stifel Nicolaus cut their target price on Procter & Gamble from $167.00 to $161.00 and set a “hold” rating on the stock in a research report on Friday. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Procter & Gamble presently has a consensus rating of “Moderate Buy” and an average price target of $179.65.

Procter & Gamble Price Performance

Shares of NYSE PG opened at $161.35 on Friday. The firm has a market cap of $379.98 billion, a price-to-earnings ratio of 27.82, a price-to-earnings-growth ratio of 3.41 and a beta of 0.45. The stock has a fifty day simple moving average of $169.32 and a two-hundred day simple moving average of $169.39. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a 1-year low of $146.28 and a 1-year high of $180.43.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The company had revenue of $21.74 billion during the quarter, compared to the consensus estimate of $21.99 billion. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.83 EPS. Analysts anticipate that The Procter & Gamble Company will post 6.93 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th will be paid a $1.0065 dividend. The ex-dividend date is Friday, January 24th. This represents a $4.03 annualized dividend and a dividend yield of 2.50%. Procter & Gamble’s payout ratio is 69.48%.

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.