The Procter & Gamble Company (NYSE:PG) Holdings Boosted by abrdn plc

abrdn plc grew its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 15.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,218,497 shares of the company’s stock after purchasing an additional 559,945 shares during the period. The Procter & Gamble makes up about 1.2% of abrdn plc’s portfolio, making the stock its 8th biggest holding. abrdn plc owned about 0.17% of The Procter & Gamble worth $569,201,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Paragon Wealth Strategies LLC acquired a new position in shares of The Procter & Gamble in the second quarter valued at about $33,000. KB Financial Partners LLC acquired a new position in shares of The Procter & Gamble in the first quarter valued at about $41,000. Aspire Private Capital LLC increased its holdings in shares of The Procter & Gamble by 85.3% in the first 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 period. Cowen Prime Advisors LLC acquired a new position in shares of The Procter & Gamble in the second quarter valued at about $67,000. Finally, Wagner Wealth Management LLC acquired a new stake in The Procter & Gamble during the first quarter worth about $79,000. Institutional investors own 62.51% of the company’s stock.

The Procter & Gamble stock traded down $0.24 during trading on Wednesday, reaching $145.19. 183,129 shares of the company were exchanged, compared to its average volume of 7,949,646. The Procter & Gamble Company has a 52-week low of $121.54 and a 52-week high of $147.23. The company 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 company has a debt-to-equity ratio of 0.50, a current ratio of 0.70 and a quick ratio of 0.52. The stock’s 50 day simple moving average is $141.87 and its two-hundred day simple moving average is $136.63.

The Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Thursday, July 29th. The company reported $1.13 EPS for the quarter, topping the Zacks’ 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 firm had revenue of $18.95 billion for the quarter, compared to the consensus estimate of $18.38 billion. During the same quarter last year, the business posted $1.16 earnings per share. The firm’s revenue was up 7.1% compared to the same quarter last year. As a group, equities analysts forecast that The Procter & Gamble Company will post 5.94 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, August 16th. Stockholders of record on Friday, July 23rd were issued a dividend of $0.8698 per share. The ex-dividend date of this dividend was Thursday, July 22nd. This is a boost from The Procter & Gamble’s previous quarterly dividend of $0.66. This represents a $3.48 dividend on an annualized basis and a dividend yield of 2.40%. The Procter & Gamble’s dividend payout ratio is currently 61.48%.

In other news, CEO Shailesh Jejurikar sold 22,344 shares of the stock in a transaction dated Wednesday, August 11th. The shares were sold at an average price of $142.75, for a total transaction of $3,189,606.00. Following the sale, the chief executive officer now owns 38,466 shares of the company’s stock, valued at $5,491,021.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Michael G. Homan sold 667 shares of the stock in a transaction dated Tuesday, August 17th. The stock was sold at an average price of $144.37, for a total transaction of $96,294.79. The disclosure for this sale can be found here. Insiders have sold a total of 748,024 shares of company stock valued at $106,760,698 over the last three months. Corporate insiders own 0.51% of the company’s stock.

Several analysts recently commented on PG shares. UBS Group started coverage on The Procter & Gamble in a report on Wednesday, June 23rd. They set a “neutral” rating and a $138.00 target price on the stock. Truist Securities raised their target price on The Procter & Gamble from $140.00 to $145.00 and gave the stock a “hold” rating in a report on Monday, August 2nd. Credit Suisse Group raised their price objective on The Procter & Gamble from $135.00 to $145.00 and gave the company a “neutral” rating in a report on Monday, August 2nd. Royal Bank of Canada raised their price objective on The Procter & Gamble from $130.00 to $139.00 and gave the company a “sector perform” rating in a report on Monday, August 2nd. Finally, Evercore ISI reissued a “buy” rating and issued a $163.00 price objective on shares of The Procter & Gamble in a report on Sunday. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $151.63.

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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