abrdn plc Has $569.20 Million Position in The Procter & Gamble Company (NYSE:PG)

abrdn plc grew its holdings in The Procter & Gamble Company (NYSE:PG) by 15.3% in the 2nd quarter, Holdings Channel reports. The fund owned 4,218,497 shares of the company’s stock after purchasing an additional 559,945 shares during the quarter. The Procter & Gamble comprises 1.2% of abrdn plc’s portfolio, making the stock its 8th biggest holding. abrdn plc’s holdings in The Procter & Gamble were worth $569,201,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Wsfs Capital Management LLC raised its stake in The Procter & Gamble by 1.9% in the first quarter. Wsfs Capital Management LLC now owns 3,937 shares of the company’s stock valued at $533,000 after buying an additional 73 shares during the period. Granite Investment Partners LLC increased its holdings in shares of The Procter & Gamble by 0.5% during the 2nd quarter. Granite Investment Partners LLC now owns 15,053 shares of the company’s stock worth $2,031,000 after acquiring an additional 73 shares during the last quarter. Leisure Capital Management boosted its position in The Procter & Gamble by 0.4% during the first quarter. Leisure Capital Management now owns 18,192 shares of the company’s stock worth $2,464,000 after purchasing an additional 74 shares during the period. Harbor Investment Advisory LLC raised its stake in The Procter & Gamble by 0.3% in the 2nd quarter. Harbor Investment Advisory LLC now owns 21,532 shares of the company’s stock worth $2,905,000 after purchasing an additional 74 shares in the last quarter. Finally, Cypress Capital Management LLC WY boosted its stake in shares of The Procter & Gamble by 4.5% in the first quarter. Cypress Capital Management LLC WY now owns 1,725 shares of the company’s stock valued at $234,000 after buying an additional 75 shares during the period. 62.51% of the stock is owned by institutional investors.

A number of research analysts have issued reports on PG shares. Zacks Investment Research upgraded The Procter & Gamble from a “hold” rating to a “buy” rating and set a $149.00 target price on the stock in a research report on Tuesday, July 20th. Credit Suisse Group upped their target price on The Procter & Gamble from $135.00 to $145.00 and gave the stock a “neutral” rating in a report on Monday, August 2nd. Truist Securities lifted their price target on The Procter & Gamble from $140.00 to $145.00 and gave the company a “hold” rating in a research note on Monday, August 2nd. Erste Group raised The Procter & Gamble from a “hold” rating to a “buy” rating in a research note on Friday, August 20th. Finally, Evercore ISI reiterated a “buy” rating and set a $163.00 target price on shares of The Procter & Gamble in a research report on Sunday. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $151.63.

PG traded down $0.24 during trading on Wednesday, hitting $145.19. The company’s stock had a trading volume of 183,129 shares, compared to its average volume of 7,949,646. The firm has a market capitalization of $352.57 billion, a P/E ratio of 26.49, a PEG ratio of 3.47 and a beta of 0.43. The Procter & Gamble Company has a twelve month low of $121.54 and a twelve month high of $147.23. The stock’s fifty day moving average price is $141.87 and its 200-day moving average price is $136.63. The company has a quick ratio of 0.52, a current ratio of 0.70 and a debt-to-equity ratio of 0.50.

The Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Thursday, July 29th. The company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. The Procter & Gamble had a net margin of 18.80% and a return on equity of 31.49%. The business had revenue of $18.95 billion during the quarter, compared to analysts’ expectations of $18.38 billion. During the same period last year, the company posted $1.16 earnings per share. The business’s quarterly revenue was up 7.1% on a year-over-year basis. Equities research analysts expect that The Procter & Gamble Company will post 5.94 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 16th. Investors of record on Friday, July 23rd were given a $0.8698 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 2.40%. This is a positive change from The Procter & Gamble’s previous quarterly dividend of $0.66. The ex-dividend date was Thursday, July 22nd. The Procter & Gamble’s payout ratio is presently 61.48%.

In other news, Director Nelson Peltz sold 207,000 shares of The Procter & Gamble stock in a transaction dated Tuesday, August 31st. The shares were sold at an average price of $142.43, for a total transaction of $29,483,010.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mary Theresa Grabowski sold 15,539 shares of the firm’s stock in a transaction dated Tuesday, August 3rd. The shares were sold at an average price of $143.00, for a total transaction of $2,222,077.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 748,024 shares of company stock worth $106,760,698. 0.51% of the stock is owned by company insiders.

About The 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 & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment comprises of shave care like female and male blades and razors, pre and post shave products, and appliances.

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Institutional Ownership by Quarter for The Procter & Gamble (NYSE:PG)

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