City National Bank of Florida MSD Acquires New Stake in The Procter & Gamble Company (NYSE:PG)

City National Bank of Florida MSD bought a new position in The Procter & Gamble Company (NYSE:PG) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,795 shares of the company’s stock, valued at approximately $301,000.

Several other hedge funds have also recently made changes to their positions in the company. Regent Peak Wealth Advisors LLC lifted its position in shares of Procter & Gamble by 1.3% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 11,063 shares of the company’s stock worth $1,855,000 after acquiring an additional 139 shares in the last quarter. Guinness Asset Management LTD raised its stake in shares of Procter & Gamble by 5.2% during the 4th quarter. Guinness Asset Management LTD now owns 1,247,990 shares of the company’s stock valued at $209,182,000 after purchasing an additional 62,048 shares during the period. Guinness Atkinson Asset Management Inc boosted its stake in Procter & Gamble by 23.3% in the 4th quarter. Guinness Atkinson Asset Management Inc now owns 6,396 shares of the company’s stock worth $1,072,000 after purchasing an additional 1,209 shares during the period. Zhang Financial LLC grew its holdings in Procter & Gamble by 1.2% during the 4th quarter. Zhang Financial LLC now owns 24,371 shares of the company’s stock valued at $4,086,000 after buying an additional 288 shares in the last quarter. Finally, Gemmer Asset Management LLC increased its position in shares of Procter & Gamble by 8.4% during the fourth quarter. Gemmer Asset Management LLC now owns 3,612 shares of the company’s stock valued at $606,000 after buying an additional 280 shares during the period. 65.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PG. Citigroup reduced their price objective on shares of Procter & Gamble from $200.00 to $181.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Piper Sandler boosted their price target on shares of Procter & Gamble from $160.00 to $164.00 and gave the company a “neutral” rating in a research report on Monday, May 5th. JPMorgan Chase & Co. decreased their price target on shares of Procter & Gamble from $181.00 to $172.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. DA Davidson reissued a “buy” rating and set a $209.00 price objective on shares of Procter & Gamble in a research note on Thursday, January 23rd. Finally, Stifel Nicolaus upped their target price on Procter & Gamble from $161.00 to $165.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Procter & Gamble has a consensus rating of “Moderate Buy” and an average target price of $178.52.

Insider Buying and Selling

In related news, insider Moses Victor Javier Aguilar sold 10,520 shares of the firm’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $158.67, for a total value of $1,669,208.40. Following the sale, the insider now directly owns 25,182 shares of the company’s stock, valued at $3,995,627.94. This trade represents a 29.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gary A. Coombe sold 18,000 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $171.66, for a total value of $3,089,880.00. Following the completion of the sale, the chief executive officer now owns 22,051 shares of the company’s stock, valued at approximately $3,785,274.66. This trade represents a 44.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,520 shares of company stock valued at $10,999,268 over the last three months. 0.18% of the stock is owned by company insiders.

Procter & Gamble Price Performance

PG stock opened at $165.49 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76. The firm has a market cap of $388.00 billion, a P/E ratio of 26.35, a P/E/G ratio of 3.76 and a beta of 0.41. The firm’s fifty day moving average is $164.31 and its 200 day moving average is $167.29. The Procter & Gamble Company has a 52 week low of $156.58 and a 52 week high of $180.43.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.01. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The firm had revenue of $19.78 billion for the quarter, compared to analysts’ expectations of $20.42 billion. During the same period last year, the firm earned $1.52 earnings per share. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. Research analysts predict that The Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, April 21st were paid a $1.0568 dividend. This represents a $4.23 annualized dividend and a dividend yield of 2.55%. This is an increase from Procter & Gamble’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend was Monday, April 21st. Procter & Gamble’s payout ratio is presently 66.98%.

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.