24,366 Procter & Gamble Company (The) $PG Shares Sold by Eastern Bank

Eastern Bank lowered its holdings in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 5.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 402,740 shares of the company's stock after selling 24,366 shares during the quarter. Eastern Bank's holdings in Procter & Gamble were worth $58,510,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PG. Greenwich Wealth Management LLC boosted its stake in shares of Procter & Gamble by 5.4% during the 2nd quarter. Greenwich Wealth Management LLC now owns 6,786 shares of the company's stock worth $995,000 after acquiring an additional 350 shares during the last quarter. QRG Capital Management Inc. increased its position in Procter & Gamble by 8.2% in the second quarter. QRG Capital Management Inc. now owns 370,300 shares of the company's stock worth $54,301,000 after buying an additional 28,048 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of Procter & Gamble by 18.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 175,489 shares of the company's stock valued at $25,724,000 after buying an additional 26,959 shares in the last quarter. State Street Corp increased its holdings in Procter & Gamble by 1.0% in the 2nd quarter. State Street Corp now owns 102,216,308 shares of the company's stock worth $14,988,999,000 after acquiring an additional 965,461 shares in the last quarter. Finally, Security National Bank of Sioux City Iowa IA purchased a new position in Procter & Gamble during the second quarter valued at approximately $177,000. 65.77% of the stock is owned by hedge funds and other institutional investors.

Procter & Gamble Trading Up 0.4%

PG stock traded up $0.61 during midday trading on Monday, reaching $145.52. 2,287,735 shares of the company traded hands, compared to its average volume of 9,643,559. The firm has a market capitalization of $337.99 billion, a price-to-earnings ratio of 21.99, a P/E/G ratio of 3.60 and a beta of 0.39. Procter & Gamble Company has a 52-week low of $137.62 and a 52-week high of $167.25. The business has a 50 day moving average of $145.73 and a 200-day moving average of $146.00. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.47 and a current ratio of 0.68.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $1.43 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.02. The business had revenue of $21.20 billion for the quarter, compared to the consensus estimate of $21.38 billion. Procter & Gamble had a net margin of 18.44% and a return on equity of 31.36%. The company's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.48 EPS. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. As a group, sell-side analysts expect that Procter & Gamble Company will post 6.98 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, July 24th were issued a dividend of $1.0885 per share. This represents a $4.35 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, July 24th. Procter & Gamble's dividend payout ratio (DPR) is presently 65.71%.

Wall Street Analyst Weigh In

PG has been the topic of a number of recent analyst reports. Bank of America decreased their price target on Procter & Gamble from $170.00 to $166.00 and set a "buy" rating on the stock in a report on Friday, July 10th. Argus downgraded shares of Procter & Gamble from a "buy" rating to a "hold" rating in a report on Friday, August 7th. JPMorgan Chase & Co. dropped their target price on shares of Procter & Gamble from $164.00 to $162.00 and set an "overweight" rating for the company in a research report on Thursday, July 16th. Jefferies Financial Group lifted their price target on shares of Procter & Gamble from $177.00 to $179.00 and gave the company a "buy" rating in a report on Friday, June 26th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Procter & Gamble in a report on Monday, September 21st. Thirteen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $161.55.

Insider Buying and Selling

In other Procter & Gamble news, insider Marc Pritchard sold 4,030 shares of the company's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $143.79, for a total transaction of $579,473.70. Following the completion of the sale, the insider owned 187,001 shares in the company, valued at $26,888,873.79. This represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Susan Whaley sold 2,238 shares of Procter & Gamble stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $143.79, for a total value of $321,802.02. Following the completion of the transaction, the insider owned 26,989 shares in the company, valued at $3,880,748.31. This represents a 7.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 6,627 shares of company stock valued at $953,417 over the last 90 days. Corporate insiders own 0.23% of the company's stock.

Procter & Gamble Profile

The Procter & Gamble Company NYSE: PG is a consumer products company that develops, manufactures and markets branded products used in households and personal care routines. Its portfolio includes products in categories such as beauty, grooming, health care, fabric and home care, and family care.

Major brands associated with Procter & Gamble include Pampers, Tide, Gillette, Head & Shoulders, Pantene, Oral-B, Crest, Olay, Old Spice, Febreze, Mr. Clean, Swiffer and Bounty. The company sells its products through retailers, e-commerce platforms and other distribution channels.

Founded in Cincinnati, Ohio, in 1837 by William Procter and James Gamble, the company has grown into a global consumer goods business serving customers in markets around the world.

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