Azzad Asset Management Inc. ADV Has $8.38 Million Stock Position in The Procter & Gamble Company (NYSE:PG)

Azzad Asset Management Inc. ADV grew its position in The Procter & Gamble Company (NYSE:PG) by 1.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 51,628 shares of the company’s stock after purchasing an additional 766 shares during the period. Procter & Gamble makes up approximately 1.0% of Azzad Asset Management Inc. ADV’s investment portfolio, making the stock its 10th largest holding. Azzad Asset Management Inc. ADV’s holdings in Procter & Gamble were worth $8,377,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Sei Investments Co. boosted its holdings in shares of Procter & Gamble by 1.4% in the 3rd quarter. Sei Investments Co. now owns 785,942 shares of the company’s stock valued at $114,638,000 after buying an additional 10,485 shares during the last quarter. Scotia Capital Inc. grew its position in shares of Procter & Gamble by 0.9% in the 3rd quarter. Scotia Capital Inc. now owns 414,797 shares of the company’s stock valued at $60,506,000 after acquiring an additional 3,570 shares during the period. Sandler Capital Management acquired a new position in shares of Procter & Gamble during the 3rd quarter worth about $10,411,000. Royal London Asset Management Ltd. raised its holdings in shares of Procter & Gamble by 7.3% in the 3rd quarter. Royal London Asset Management Ltd. now owns 1,537,678 shares of the company’s stock valued at $224,324,000 after purchasing an additional 105,102 shares during the period. Finally, Royal Bank of Canada lifted its stake in Procter & Gamble by 3.2% in the 3rd quarter. Royal Bank of Canada now owns 11,170,305 shares of the company’s stock valued at $1,629,299,000 after purchasing an additional 346,925 shares during the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on PG. Argus upped their price objective on shares of Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Truist Financial raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and increased their price target for the company from $160.00 to $175.00 in a report on Monday, March 11th. BNP Paribas started coverage on Procter & Gamble in a report on Monday, June 24th. They set an “outperform” rating and a $187.00 price objective for the company. Barclays lifted their price target on Procter & Gamble from $168.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, April 23rd. Finally, Jefferies Financial Group upped their price objective on Procter & Gamble from $175.00 to $182.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.72.

Procter & Gamble Trading Down 0.3 %

PG traded down $0.54 during trading on Wednesday, reaching $163.36. 917,626 shares of the stock traded hands, compared to its average volume of 6,551,531. The stock has a market capitalization of $385.55 billion, a PE ratio of 26.70, a P/E/G ratio of 3.35 and a beta of 0.41. The company has a quick ratio of 0.48, a current ratio of 0.69 and a debt-to-equity ratio of 0.49. The stock’s 50-day moving average is $165.70 and its 200 day moving average is $159.15. The Procter & Gamble Company has a 12 month low of $141.45 and a 12 month high of $169.41.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Friday, April 19th. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.10. The company had revenue of $20.20 billion during the quarter, compared to analyst estimates of $20.43 billion. Procter & Gamble had a net margin of 18.00% and a return on equity of 33.91%. Procter & Gamble’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.37 EPS. Equities analysts anticipate that The Procter & Gamble Company will post 6.55 earnings per share for the current year.

Procter & Gamble Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Friday, April 19th were given a $1.0065 dividend. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.94. The ex-dividend date was Thursday, April 18th. This represents a $4.03 annualized dividend and a yield of 2.46%. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.85%.

Insider Buying and Selling at Procter & Gamble

In related news, CEO Sundar G. Raman sold 31,924 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $166.95, for a total value of $5,329,711.80. Following the completion of the sale, the chief executive officer now directly owns 19,042 shares of the company’s stock, valued at approximately $3,179,061.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Procter & Gamble news, insider Moses Victor Javier Aguilar sold 9,149 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $167.72, for a total value of $1,534,470.28. Following the transaction, the insider now owns 12,929 shares of the company’s stock, valued at $2,168,451.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar G. Raman sold 31,924 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $166.95, for a total value of $5,329,711.80. Following the sale, the chief executive officer now directly owns 19,042 shares of the company’s stock, valued at $3,179,061.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 154,544 shares of company stock worth $25,413,051. Insiders own 0.17% of the company’s stock.

About Procter & Gamble

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.