Riverbend Wealth Management LLC Acquires Shares of 4,533 The Procter & Gamble Company (NYSE:PG)

Riverbend Wealth Management LLC acquired a new stake in shares of The Procter & Gamble Company (NYSE:PG) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 4,533 shares of the company’s stock, valued at approximately $764,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. NewSquare Capital LLC increased its holdings in shares of Procter & Gamble by 933.3% during the 4th quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock valued at $26,000 after purchasing an additional 140 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new position in shares of Procter & Gamble during the 3rd quarter valued at approximately $33,000. Noble Wealth Management PBC purchased a new position in shares of Procter & Gamble during the 4th quarter valued at approximately $39,000. Bay Harbor Wealth Management LLC increased its holdings in shares of Procter & Gamble by 972.0% during the 4th quarter. Bay Harbor Wealth Management LLC now owns 268 shares of the company’s stock valued at $45,000 after purchasing an additional 243 shares in the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new position in shares of Procter & Gamble during the 4th quarter valued at approximately $46,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PG has been the subject of several recent research reports. DA Davidson reaffirmed a “buy” rating and set a $209.00 target price on shares of Procter & Gamble in a report on Thursday, January 23rd. JPMorgan Chase & Co. cut 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. Wells Fargo & Company boosted their price target on shares of Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. UBS Group reissued a “buy” rating on shares of Procter & Gamble in a report on Monday, February 10th. Finally, Piper Sandler cut 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. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $181.11.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, CEO Gary A. Coombe sold 35,000 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $173.68, for a total value of $6,078,800.00. Following the transaction, the chief executive officer now owns 22,051 shares of the company’s stock, valued at $3,829,817.68. This represents a 61.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Marc S. Pritchard sold 90,450 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 172,814 shares in the company, valued at $28,313,845.76. The trade was a 34.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 143,450 shares of company stock valued at $23,988,008 over the last 90 days. 0.18% of the stock is owned by insiders.

Procter & Gamble Trading Up 0.1 %

Shares of PG stock opened at $176.14 on Tuesday. The company’s 50-day moving average price is $167.03 and its 200-day moving average price is $169.81. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The stock has a market cap of $413.02 billion, a price-to-earnings ratio of 28.05, a PEG ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a twelve month low of $153.52 and a twelve month high of $180.43.

Procter & Gamble (NYSE:PG) last announced 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. The firm had revenue of $21.88 billion for the quarter, compared to analysts’ expectations of $21.66 billion. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.84 EPS. As a group, equities analysts predict that The Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th were given a $1.0065 dividend. The ex-dividend date was Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a yield of 2.29%. Procter & Gamble’s payout ratio is currently 64.01%.

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.