Riverbend Wealth Management LLC Acquires Shares of 4,533 The Procter & Gamble Company (NYSE:PG)

Riverbend Wealth Management LLC acquired a new stake in shares of The Procter & Gamble Company (NYSE:PG) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,533 shares of the company’s stock, valued at approximately $764,000.

Several other institutional investors have also recently made changes to their positions in PG. Swedbank AB lifted its holdings in shares of Procter & Gamble by 3.9% in the 3rd quarter. Swedbank AB now owns 1,503,647 shares of the company’s stock worth $260,432,000 after acquiring an additional 56,583 shares during the last quarter. Howard Capital Management Group LLC lifted its holdings in shares of Procter & Gamble by 1.0% in the 3rd quarter. Howard Capital Management Group LLC now owns 8,327 shares of the company’s stock worth $1,442,000 after acquiring an additional 82 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Procter & Gamble by 14.7% in the 3rd quarter. Principal Financial Group Inc. now owns 4,734,588 shares of the company’s stock worth $820,031,000 after acquiring an additional 608,168 shares during the last quarter. United Bank lifted its holdings in shares of Procter & Gamble by 1.7% in the 3rd quarter. United Bank now owns 13,367 shares of the company’s stock worth $2,315,000 after acquiring an additional 219 shares during the last quarter. Finally, Baker Avenue Asset Management LP increased its stake in Procter & Gamble by 70.3% in the 3rd quarter. Baker Avenue Asset Management LP now owns 11,064 shares of the company’s stock worth $1,916,000 after buying an additional 4,568 shares during the period. Institutional investors own 65.77% of the company’s stock.

Procter & Gamble Stock Up 0.1 %

Shares of Procter & Gamble stock opened at $176.14 on Tuesday. The firm’s 50 day moving average price is $167.03 and its 200-day moving average price is $169.81. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a 52-week low of $153.52 and a 52-week high of $180.43. The company has a market cap of $413.02 billion, a P/E ratio of 28.05, a PEG ratio of 3.76 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The firm had revenue of $21.88 billion for the quarter, compared to the consensus estimate of $21.66 billion. During the same quarter in the previous year, the firm earned $1.84 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts predict that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

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

Insider Buying and Selling

In other Procter & Gamble news, insider Marc S. Pritchard sold 90,450 shares of Procter & Gamble stock in a transaction that occurred on 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 directly owns 172,814 shares in the company, valued at approximately $28,313,845.76. The trade was a 34.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Gary A. Coombe sold 35,000 shares of Procter & Gamble stock in a transaction that occurred on Friday, February 28th. The shares were 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 owns 22,051 shares of the company’s stock, valued at approximately $3,829,817.68. The trade was a 61.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 143,450 shares of company stock worth $23,988,008 in the last three months. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PG shares. JPMorgan Chase & Co. reduced their price target on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Barclays raised their price target on shares of Procter & Gamble from $155.00 to $159.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 23rd. Wells Fargo & Company raised their price target on shares of Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $164.00 price target on shares of Procter & Gamble in a research note on Thursday, January 23rd. Finally, Piper Sandler reduced their price target on shares of Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating on the stock in a research note on Monday, February 24th. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Procter & Gamble currently has an average rating of “Moderate Buy” and a consensus price target of $181.11.

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.