Sanders Morris Harris LLC Boosts Holdings in The Procter & Gamble Company (NYSE:PG)

Sanders Morris Harris LLC lifted its stake in shares of The Procter & Gamble Company (NYSE:PG) by 8.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,335 shares of the company’s stock after purchasing an additional 809 shares during the period. Sanders Morris Harris LLC’s holdings in Procter & Gamble were worth $1,739,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Itau Unibanco Holding S.A. purchased a new stake in Procter & Gamble during the 2nd quarter worth approximately $28,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Procter & Gamble in the third quarter worth approximately $33,000. Quest Partners LLC purchased a new stake in shares of Procter & Gamble during the second quarter worth approximately $36,000. Costello Asset Management INC raised its stake in Procter & Gamble by 2,142.9% in the 3rd quarter. Costello Asset Management INC now owns 314 shares of the company’s stock valued at $54,000 after purchasing an additional 300 shares during the last quarter. Finally, William B. Walkup & Associates Inc. purchased a new position in Procter & Gamble in the 2nd quarter valued at $58,000. Institutional investors and hedge funds own 65.77% of the company’s stock.

Insider Activity

In other Procter & Gamble news, CEO R. Alexandra Keith sold 1,992 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $170.00, for a total value of $338,640.00. Following the sale, the chief executive officer now owns 13,783 shares of the company’s stock, valued at $2,343,110. This trade represents a 12.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Balaji Purushothaman sold 12,800 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $168.99, for a total value of $2,163,072.00. Following the transaction, the insider now directly owns 11,566 shares of the company’s stock, valued at approximately $1,954,538.34. This represents a 52.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 75,439 shares of company stock valued at $13,317,460. 0.18% of the stock is currently owned by company insiders.

Procter & Gamble Stock Up 0.5 %

Procter & Gamble stock opened at $161.35 on Friday. The company has a market capitalization of $379.98 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 3.41 and a beta of 0.45. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75. The Procter & Gamble Company has a fifty-two week low of $146.28 and a fifty-two week high of $180.43. The firm has a 50 day moving average price of $169.32 and a 200 day moving average price of $169.39.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The business had revenue of $21.74 billion during the quarter, compared to analysts’ expectations of $21.99 billion. During the same period in the previous year, the firm posted $1.83 earnings per share. The company’s revenue was down .6% on a year-over-year basis. Research analysts expect that The Procter & Gamble Company will post 6.93 earnings per share for the current year.

Procter & Gamble Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th will be paid a dividend of $1.0065 per share. The ex-dividend date is Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a yield of 2.50%. Procter & Gamble’s dividend payout ratio (DPR) is presently 69.48%.

Wall Street Analysts Forecast Growth

PG has been the subject of a number of research reports. Evercore ISI upped their target price on shares of Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. UBS Group cut their price objective on shares of Procter & Gamble from $196.00 to $189.00 and set a “buy” rating for the company in a report on Thursday. Stifel Nicolaus lowered their target price on Procter & Gamble from $167.00 to $161.00 and set a “hold” rating on the stock in a report on Friday. Piper Sandler assumed coverage on Procter & Gamble in a report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price target for the company. Finally, JPMorgan Chase & Co. reduced their price objective on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a research report on Thursday. Eight research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $179.65.

About 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 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.