Bank of America Corp DE Takes Position in Procter & Gamble Company (The) $PG

Bank of America Corp DE purchased a new stake in Procter & Gamble Company (The) (NYSE:PG - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 26,259,055 shares of the company's stock, valued at approximately $3,850,628,000. Bank of America Corp DE owned about 1.13% of Procter & Gamble as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of PG. Evolution Wealth Management Inc. boosted its position in shares of Procter & Gamble by 1,315.4% during the 4th quarter. Evolution Wealth Management Inc. now owns 184 shares of the company's stock worth $26,000 after acquiring an additional 171 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Procter & Gamble during the 2nd quarter worth about $26,000. Basso Capital Management L.P. acquired a new position in shares of Procter & Gamble in the 4th quarter valued at $28,000. Paladin Partners LLC acquired a new stake in Procter & Gamble during the 2nd quarter worth $29,000. Finally, Sankala Group LLC purchased a new stake in Procter & Gamble in the fourth quarter valued at $30,000. Institutional investors and hedge funds own 65.77% of the company's stock.

Analyst Upgrades and Downgrades

PG has been the topic of several research reports. Jefferies Financial Group raised their price objective on Procter & Gamble from $177.00 to $179.00 and gave the stock a "buy" rating in a report on Friday, June 26th. Barclays boosted their target price on Procter & Gamble from $146.00 to $152.00 and gave the company an "equal weight" rating in a report on Tuesday, July 21st. Weiss Ratings restated a "hold (c)" rating on shares of Procter & Gamble in a research note on Wednesday, June 24th. JPMorgan Chase & Co. cut their price target on Procter & Gamble from $164.00 to $162.00 and set an "overweight" rating on the stock in a research report on Thursday, July 16th. Finally, Argus cut Procter & Gamble from a "buy" rating to a "hold" rating in a research note on Friday, August 7th. Thirteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $161.19.

Procter & Gamble Stock Performance

Shares of PG stock opened at $146.08 on Tuesday. Procter & Gamble Company has a 12-month low of $137.62 and a 12-month high of $167.25. The company has a current ratio of 0.68, a quick ratio of 0.47 and a debt-to-equity ratio of 0.43. The stock has a 50 day simple moving average of $146.26 and a 200-day simple moving average of $147.05. The company has a market cap of $339.30 billion, a price-to-earnings ratio of 22.07, a price-to-earnings-growth ratio of 3.61 and a beta of 0.39.

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 the consensus estimate of $1.41 by $0.02. Procter & Gamble had a net margin of 18.44% and a return on equity of 31.36%. The company had revenue of $21.20 billion for the quarter, compared to analyst estimates of $21.38 billion. During the same period in the previous year, the firm earned $1.48 EPS. The business's revenue was up 1.5% on a year-over-year basis. Procter & Gamble has set its FY 2027 guidance at 6.890-7.110 EPS. On average, equities analysts forecast that Procter & Gamble Company will post 6.99 EPS for the current year.

Procter & Gamble Announces Dividend

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

Insiders Place Their Bets

In related news, insider Marc Pritchard sold 4,030 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $143.79, for a total transaction of $579,473.70. Following the transaction, the insider directly owned 187,001 shares in the company, valued at approximately $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 SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Matthew Janzaruk sold 359 shares of the firm's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $145.24, for a total value of $52,141.16. Following the completion of the sale, the chief accounting officer directly owned 1,271 shares in the company, valued at approximately $184,600.04. The trade was a 22.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 6,627 shares of company stock valued at $953,417. Company insiders own 0.23% of the company's stock.

Procter & Gamble Profile

Procter & Gamble Company is a global consumer products company that develops, manufactures and markets branded products used in households and personal care. Its portfolio spans beauty, grooming, health care, fabric and home care, and family care products.

The company's brands include Tide, Ariel, Downy, Dawn, Febreze, Bounty, Charmin, Pampers, Gillette, Oral-B, Crest, Head & Shoulders, Olay and Pantene. These products are sold through retailers, e-commerce platforms and other distribution channels.

Procter & Gamble was founded in Cincinnati in 1837 by William Procter and James Gamble.

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