Burke & Herbert Bank & Trust Co. lowered its holdings in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 5.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 46,353 shares of the company's stock after selling 2,692 shares during the quarter. Procter & Gamble makes up about 1.9% of Burke & Herbert Bank & Trust Co.'s investment portfolio, making the stock its 11th largest holding. Burke & Herbert Bank & Trust Co.'s holdings in Procter & Gamble were worth $7,899,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Novare Capital Management LLC increased its position in Procter & Gamble by 7.5% during the 1st quarter. Novare Capital Management LLC now owns 10,057 shares of the company's stock valued at $1,714,000 after buying an additional 705 shares in the last quarter. Adell Harriman & Carpenter Inc. increased its holdings in shares of Procter & Gamble by 2.5% during the first quarter. Adell Harriman & Carpenter Inc. now owns 16,601 shares of the company's stock valued at $2,829,000 after acquiring an additional 402 shares in the last quarter. Concurrent Investment Advisors LLC increased its holdings in shares of Procter & Gamble by 26.4% during the first quarter. Concurrent Investment Advisors LLC now owns 120,002 shares of the company's stock valued at $20,451,000 after acquiring an additional 25,059 shares in the last quarter. Braun Stacey Associates Inc. increased its holdings in shares of Procter & Gamble by 1.9% during the first quarter. Braun Stacey Associates Inc. now owns 128,418 shares of the company's stock valued at $21,885,000 after acquiring an additional 2,445 shares in the last quarter. Finally, Elite Financial Inc. bought a new position in shares of Procter & Gamble during the first quarter valued at $111,000. Hedge funds and other institutional investors own 65.77% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on PG. Bank of America reduced their price target on Procter & Gamble from $190.00 to $180.00 and set a "buy" rating for the company in a report on Friday, April 25th. Morgan Stanley set a $180.00 price objective on Procter & Gamble and gave the company an "overweight" rating in a research report on Friday, April 25th. Citigroup dropped their price objective on Procter & Gamble from $200.00 to $181.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Truist Financial dropped their price objective on Procter & Gamble from $185.00 to $180.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Finally, Royal Bank Of Canada raised Procter & Gamble from a "sector perform" rating to an "outperform" rating and increased their price objective for the company from $164.00 to $177.00 in a research report on Friday, April 25th. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $178.45.
Get Our Latest Research Report on Procter & Gamble
Insider Activity
In related news, insider Moses Victor Javier Aguilar sold 10,520 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the sale, the insider directly owned 25,182 shares of the company's stock, valued at $3,995,627.94. This trade represents a 29.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jennifer L. Davis sold 1,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 29th. The shares were 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 directly owned 51,965 shares in the company, valued at approximately $8,386,111.70. The trade was a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.
Procter & Gamble Trading Down 0.3%
PG stock opened at $160.72 on Friday. Procter & Gamble Company has a 1-year low of $156.58 and a 1-year high of $180.43. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.71 and a quick ratio of 0.50. The company has a market capitalization of $376.82 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 4.58 and a beta of 0.40. The business has a 50 day simple moving average of $162.10 and a two-hundred day simple moving average of $165.30.
Procter & Gamble (NYSE:PG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.01. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.46%. The company had revenue of $19.78 billion for the quarter, compared to analyst estimates of $20.42 billion. During the same quarter in the prior year, the firm posted $1.52 EPS. Procter & Gamble's quarterly revenue was down 2.1% compared to the same quarter last year. Research analysts anticipate that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.
Procter & Gamble Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were issued a $1.0568 dividend. This represents a $4.23 annualized dividend and a yield of 2.63%. The ex-dividend date was Monday, April 21st. This is an increase from Procter & Gamble's previous quarterly dividend of $1.01. Procter & Gamble's dividend payout ratio (DPR) is currently 67.14%.
Procter & Gamble Profile
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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.
Further Reading
Want to see what other hedge funds are holding PG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Procter & Gamble Company (The) (NYSE:PG - Free Report).
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