Concorde Asset Management LLC Increases Holdings in The Procter & Gamble Company (NYSE:PG)

Concorde Asset Management LLC boosted its stake in shares of The Procter & Gamble Company (NYSE:PG) by 26.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,125 shares of the company’s stock after acquiring an additional 446 shares during the quarter. Concorde Asset Management LLC’s holdings in Procter & Gamble were worth $368,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new position in Procter & Gamble during the second quarter valued at approximately $28,000. Fairway Wealth LLC acquired a new stake in Procter & Gamble in the second quarter valued at approximately $29,000. POM Investment Strategies LLC acquired a new stake in Procter & Gamble in the second quarter valued at approximately $34,000. Quest Partners LLC acquired a new stake in Procter & Gamble in the second quarter valued at approximately $36,000. Finally, Fairfield Financial Advisors LTD acquired a new stake in Procter & Gamble in the second quarter valued at approximately $44,000. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Piper Sandler assumed coverage on Procter & Gamble in a report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price objective on the stock. Barclays lowered Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price target on the stock. in a research note on Monday, September 30th. DZ Bank raised Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price target on the stock in a research note on Thursday, August 29th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $164.00 price target on shares of Procter & Gamble in a research note on Monday, October 21st. Finally, Hsbc Global Res raised Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. Nine research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $177.00.

Insider Activity at Procter & Gamble

In related news, CEO Jon R. Moeller sold 87,979 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $170.40, for a total transaction of $14,991,621.60. Following the completion of the transaction, the chief executive officer now directly owns 300,777 shares of the company’s stock, valued at $51,252,400.80. The trade was a 22.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Andre Schulten sold 13,041 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $170.00, for a total value of $2,216,970.00. Following the transaction, the chief financial officer now directly owns 37,208 shares of the company’s stock, valued at $6,325,360. The trade was a 25.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 160,693 shares of company stock worth $27,311,345. 0.18% of the stock is currently owned by company insiders.

Procter & Gamble Price Performance

NYSE:PG opened at $172.68 on Friday. The Procter & Gamble Company has a 52 week low of $142.50 and a 52 week high of $177.94. The company has a quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $406.67 billion, a P/E ratio of 29.77, a P/E/G ratio of 3.69 and a beta of 0.42. The stock’s fifty day moving average is $170.00 and its two-hundred day moving average is $168.54.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.03. The firm had revenue of $21.74 billion for the quarter, compared to the consensus estimate of $21.99 billion. Procter & Gamble had a return on equity of 33.25% and a net margin of 17.07%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.83 EPS. Equities analysts expect that The Procter & Gamble Company will post 6.94 EPS for the current year.

Procter & Gamble Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 18th were issued a $1.0065 dividend. The ex-dividend date was Friday, October 18th. This represents a $4.03 annualized dividend and a dividend yield of 2.33%. Procter & Gamble’s dividend payout ratio is presently 69.48%.

Procter & Gamble Profile

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, SK-II, and Native brands.