EverSource Wealth Advisors LLC Raises Stock Position in The Procter & Gamble Company (NYSE:PG)

EverSource Wealth Advisors LLC grew its position in shares of The Procter & Gamble Company (NYSE:PG) by 5.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,582 shares of the company’s stock after purchasing an additional 775 shares during the period. EverSource Wealth Advisors LLC’s holdings in Procter & Gamble were worth $2,612,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Sequoia Financial Advisors LLC grew its position in shares of Procter & Gamble by 9.9% during the fourth quarter. Sequoia Financial Advisors LLC now owns 292,620 shares of the company’s stock valued at $49,058,000 after purchasing an additional 26,338 shares in the last quarter. PFG Advisors grew its position in shares of Procter & Gamble by 9.9% during the fourth quarter. PFG Advisors now owns 55,626 shares of the company’s stock valued at $9,326,000 after purchasing an additional 5,013 shares in the last quarter. Summit X LLC grew its position in shares of Procter & Gamble by 0.3% during the fourth quarter. Summit X LLC now owns 27,888 shares of the company’s stock valued at $4,675,000 after purchasing an additional 73 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Procter & Gamble by 9.4% during the fourth quarter. HighTower Advisors LLC now owns 2,511,046 shares of the company’s stock valued at $420,977,000 after purchasing an additional 215,226 shares in the last quarter. Finally, Windle Wealth LLC grew its position in shares of Procter & Gamble by 3.4% during the fourth quarter. Windle Wealth LLC now owns 47,785 shares of the company’s stock valued at $8,011,000 after purchasing an additional 1,583 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on PG shares. Piper Sandler lowered their price target on shares of Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a report on Monday, February 24th. JPMorgan Chase & Co. lowered their price target on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. DA Davidson reaffirmed a “buy” rating and issued a $209.00 price target on shares of Procter & Gamble in a report on Thursday, January 23rd. Barclays increased their price target on shares of Procter & Gamble from $155.00 to $159.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $164.00 price target on shares of Procter & Gamble in a report on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $181.47.

Procter & Gamble Stock Performance

Procter & Gamble stock opened at $168.35 on Thursday. The company has a 50 day moving average price of $167.16 and a 200-day moving average price of $169.83. 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 Procter & Gamble Company has a fifty-two week low of $153.52 and a fifty-two week high of $180.43. The company has a market capitalization of $394.75 billion, a PE ratio of 26.81, a P/E/G ratio of 3.76 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.02. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The firm had revenue of $21.88 billion during the quarter, compared to the consensus estimate of $21.66 billion. During the same quarter in the previous year, the firm posted $1.84 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. As a group, equities analysts forecast that The Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th were paid a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend was Friday, January 24th. Procter & Gamble’s dividend payout ratio is presently 64.01%.

Insider Activity

In related news, CEO Gary A. Coombe sold 18,000 shares of Procter & Gamble stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $171.66, for a total transaction of $3,089,880.00. Following the transaction, the chief executive officer now directly owns 22,051 shares of the company’s stock, valued at $3,785,274.66. This trade represents a 44.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Marc S. Pritchard sold 90,450 shares of Procter & Gamble stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the transaction, the insider now directly owns 172,814 shares in the company, valued at approximately $28,313,845.76. The trade was a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 143,450 shares of company stock valued at $23,988,008. Corporate insiders own 0.18% of the company’s stock.

Procter & Gamble Company 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.