Bank Pictet & Cie Europe AG increased its holdings in shares of The Procter & Gamble Company (NYSE:PG - Free Report) by 17.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 400,073 shares of the company's stock after buying an additional 58,323 shares during the quarter. Procter & Gamble accounts for approximately 1.6% of Bank Pictet & Cie Europe AG's holdings, making the stock its 15th biggest position. Bank Pictet & Cie Europe AG's holdings in Procter & Gamble were worth $68,180,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC lifted its position in shares of Procter & Gamble by 51.5% in the fourth quarter. Brighton Jones LLC now owns 40,068 shares of the company's stock worth $6,717,000 after buying an additional 13,617 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Procter & Gamble in the fourth quarter worth about $50,049,000. WealthPlan Investment Management LLC increased its stake in Procter & Gamble by 15.9% during the fourth quarter. WealthPlan Investment Management LLC now owns 1,983 shares of the company's stock valued at $332,000 after acquiring an additional 272 shares during the period. Congress Asset Management Co. raised its holdings in Procter & Gamble by 6.7% in the 4th quarter. Congress Asset Management Co. now owns 43,601 shares of the company's stock valued at $7,310,000 after acquiring an additional 2,737 shares in the last quarter. Finally, Puff Wealth Management LLC acquired a new position in Procter & Gamble in the 4th quarter valued at approximately $208,000. Hedge funds and other institutional investors own 65.77% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have commented on PG shares. Piper Sandler upped their price target on Procter & Gamble from $160.00 to $164.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Erste Group Bank lowered Procter & Gamble from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Truist Financial lowered their price objective on Procter & Gamble from $185.00 to $180.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Bank of America lowered their price objective on Procter & Gamble from $190.00 to $180.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Finally, Royal Bank of Canada upgraded Procter & Gamble from a "sector perform" rating to an "outperform" rating and upped their price objective for the company from $164.00 to $177.00 in a research note on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Procter & Gamble presently has a consensus rating of "Moderate Buy" and a consensus price target of $178.86.
Get Our Latest Report on PG
Procter & Gamble Price Performance
Shares of PG traded up $0.51 on Monday, hitting $160.79. The company's stock had a trading volume of 6,329,148 shares, compared to its average volume of 7,377,763. The company has a 50 day moving average price of $163.75 and a 200 day moving average price of $166.64. The Procter & Gamble Company has a fifty-two week low of $156.58 and a fifty-two week high of $180.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55. The company has a market capitalization of $376.99 billion, a PE ratio of 25.60, a PEG ratio of 3.76 and a beta of 0.43.
Procter & Gamble (NYSE:PG - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, topping analysts' consensus estimates of $1.53 by $0.01. The company had revenue of $19.78 billion during the quarter, compared to the consensus estimate of $20.42 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The firm's quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.52 earnings per share. On average, research analysts anticipate that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.
Procter & Gamble Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, April 21st were given a dividend of $1.0568 per share. The ex-dividend date was Monday, April 21st. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.63%. This is an increase from Procter & Gamble's previous quarterly dividend of $1.01. Procter & Gamble's payout ratio is presently 66.98%.
Insider Transactions at Procter & Gamble
In related news, CEO Jennifer L. Davis sold 1,000 shares of the company's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total value of $161,380.00. Following the completion of the sale, the chief executive officer now owns 51,965 shares in the company, valued at approximately $8,386,111.70. This represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $158.67, for a total value of $1,669,208.40. Following the completion of the sale, the insider now owns 25,182 shares of the company's stock, valued at $3,995,627.94. This represents a 29.47% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.
About Procter & Gamble
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Free Report)
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.
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