Lord & Richards Wealth Management Invests $280,000 in Procter & Gamble

Lord & Richards Wealth Management LLC has acquired a new position in Procter & Gamble Company (NYSE: PG) during the second quarter of 2023, with an investment valued at approximately $280,000. The institutional investor acquired 1,758 shares of the consumer goods giant, highlighting ongoing interest from hedge funds in the company.

This acquisition follows a trend among several other investment firms making adjustments to their holdings in Procter & Gamble. For instance, Nova Wealth Management Inc. purchased shares during the first quarter for around $26,000, while Signature Resources Capital Management LLC increased its stake by 67.9% in the second quarter, now owning 178 shares valued at $28,000. Additionally, Quarry LP and Mid American Wealth Advisory Group Inc. made new investments of approximately $33,000 and $34,000, respectively, during the first and second quarters.

### Analyst Ratings and Insights

Analysts have been actively commenting on Procter & Gamble’s stock performance. Evercore ISI recently restated an “in-line” rating while lowering its target price from $190.00 to $170.00. Meanwhile, BNP Paribas maintained an “outperform” rating but adjusted its target price from $177.00 to $172.00. Weiss Ratings assigned a “hold (c+)” rating, and Morgan Stanley set a target price of $175.00.

Research from MarketBeat.com indicates that twelve analysts currently rate the stock as a Buy, while nine have issued a Hold rating. The consensus reflects an average rating of “Moderate Buy” with a target price of $171.53.

### Insider Activity

In related news, Procter & Gamble’s Chief Operating Officer, Shailesh Jejurikar, sold 3,986 shares on October 2, 2023, at an average price of $152.23, totaling approximately $606,788.78. Following this transaction, Jejurikar retains 46,899 shares valued at around $7,139,434.77, representing a 7.83% decrease in his holdings.

Similarly, Matthew W. Janzaruk, the Chief Accounting Officer, sold 725 shares on October 30, 2023, for a total of $108,438.25, reducing his ownership by 42.55%. Over the past three months, insiders have sold 150,488 shares, amounting to $23,529,718. Currently, corporate insiders hold only 0.20% of the company’s stock.

### Financial Performance Overview

Procter & Gamble shares opened at $147.90 recently, and the company reported a 50-day simple moving average of $153.72 and a 200-day moving average of $157.61. The stock has experienced fluctuations, with a 12-month low of $146.96 and a high of $180.43.

On October 24, 2023, the company released its quarterly earnings, showing earnings per share (EPS) of $1.99, surpassing analysts’ expectations of $1.90. The revenue for the quarter reached $22.39 billion, exceeding predictions of $22.23 billion and representing a 3% increase compared to the previous year.

Procter & Gamble has set its fiscal year 2026 guidance for EPS between $6.830 and $7.100, with analysts projecting an average EPS of $6.91 for the current fiscal year.

### Dividend Announcement

In addition to its investment activities, Procter & Gamble has announced a quarterly dividend of $1.0568 per share, scheduled for payment on November 17, 2023. Shareholders of record as of October 24, 2023, will receive this dividend, which translates to an annualized amount of $4.23, yielding approximately 2.9%. The ex-dividend date is also set for October 24, 2023, with a payout ratio currently standing at 61.61%.

### Company Profile

Procter & Gamble Co. specializes in branded consumer packaged goods and operates through various segments, including Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. Its product offerings span hair, skin, and personal care, as well as grooming products such as razors and pre and post-shave items.

Investors and analysts continue to monitor Procter & Gamble closely, given its significant market presence and ongoing adjustments in institutional investments.