Larson Financial Group LLC Boosts Stock Holdings in The Procter & Gamble Company (NYSE:PG)

Larson Financial Group LLC grew its position in shares of The Procter & Gamble Company (NYSE:PG) by 24.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,867 shares of the company’s stock after purchasing an additional 1,343 shares during the period. Larson Financial Group LLC’s holdings in The Procter & Gamble were worth $927,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Paragon Wealth Strategies LLC purchased a new position in The Procter & Gamble in the second quarter worth about $33,000. KB Financial Partners LLC purchased a new position in shares of The Procter & Gamble in the 1st quarter worth approximately $41,000. Aspire Private Capital LLC increased its position in shares of The Procter & Gamble by 85.3% during the 1st quarter. Aspire Private Capital LLC now owns 430 shares of the company’s stock valued at $58,000 after purchasing an additional 198 shares during the last quarter. Cowen Prime Advisors LLC purchased a new stake in The Procter & Gamble during the 2nd quarter valued at $67,000. Finally, Wagner Wealth Management LLC purchased a new stake in shares of The Procter & Gamble in the first quarter valued at $79,000. 62.51% of the stock is currently owned by hedge funds and other institutional investors.

PG stock traded down $0.20 during mid-day trading on Wednesday, reaching $145.23. 96,713 shares of the company’s stock were exchanged, compared to its average volume of 7,949,646. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.70 and a quick ratio of 0.52. The Procter & Gamble Company has a 12-month low of $121.54 and a 12-month high of $147.23. The stock’s 50 day moving average is $141.87 and its 200 day moving average is $136.63. The company has a market cap of $352.66 billion, a price-to-earnings ratio of 26.49, a price-to-earnings-growth ratio of 3.47 and a beta of 0.43.

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

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 16th. Shareholders of record on Friday, July 23rd were issued a dividend of $0.8698 per share. This represents a $3.48 annualized dividend and a yield of 2.40%. This is an increase from The Procter & Gamble’s previous quarterly dividend of $0.66. The ex-dividend date was Thursday, July 22nd. The Procter & Gamble’s dividend payout ratio (DPR) is presently 61.48%.

PG has been the subject of several research reports. Zacks Investment Research upgraded The Procter & Gamble from a “hold” rating to a “buy” rating and set a $149.00 target price for the company in a report on Tuesday, July 20th. Citigroup lifted their target price on The Procter & Gamble from $150.00 to $154.00 and gave the company a “neutral” rating in a research note on Monday, August 2nd. Morgan Stanley increased their price target on The Procter & Gamble from $160.00 to $161.00 and gave the company an “overweight” rating in a research note on Tuesday, September 7th. Truist Securities lifted their target price on shares of The Procter & Gamble from $140.00 to $145.00 and gave the stock a “hold” rating in a research note on Monday, August 2nd. Finally, UBS Group assumed coverage on shares of The Procter & Gamble in a report on Wednesday, June 23rd. They issued a “neutral” rating and a $138.00 price target for the company. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $151.63.

In related news, CFO Andre Schulten sold 1,010 shares of the company’s stock in a transaction dated Tuesday, August 17th. The shares were sold at an average price of $144.37, for a total transaction of $145,813.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Carolyn M. Tastad sold 7,772 shares of the business’s stock in a transaction that occurred on Monday, August 2nd. The stock was sold at an average price of $141.77, for a total value of $1,101,836.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 748,024 shares of company stock worth $106,760,698. Company insiders own 0.51% of the company’s stock.

The 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 & 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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