Eastern Bank Has $53.74 Million Stock Position in Procter & Gamble Company (The) (NYSE:PG)

Eastern Bank decreased its position in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 315,337 shares of the company's stock after selling 4,459 shares during the period. Procter & Gamble accounts for approximately 1.1% of Eastern Bank's investment portfolio, making the stock its 26th largest position. Eastern Bank's holdings in Procter & Gamble were worth $53,740,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Navigoe LLC purchased a new stake in shares of Procter & Gamble in the fourth quarter valued at about $31,000. Capital A Wealth Management LLC purchased a new stake in Procter & Gamble during the fourth quarter worth about $31,000. Hoey Investments Inc. raised its position in Procter & Gamble by 321.7% during the fourth quarter. Hoey Investments Inc. now owns 194 shares of the company's stock worth $33,000 after acquiring an additional 148 shares during the last quarter. 10Elms LLP acquired a new position in Procter & Gamble during the fourth quarter worth about $34,000. Finally, Mizuho Securities Co. Ltd. raised its position in Procter & Gamble by 566.7% during the first quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock worth $34,000 after acquiring an additional 170 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Procter & Gamble

In other news, insider Moses Victor Javier Aguilar sold 10,520 shares of the business's stock in a transaction on 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 sale, the insider owned 25,182 shares in the company, valued at approximately $3,995,627.94. The trade was a 29.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.18% of the company's stock.

Procter & Gamble Stock Performance

PG stock traded up $0.18 on Friday, reaching $150.65. 8,593,060 shares of the company were exchanged, compared to its average volume of 8,268,750. Procter & Gamble Company has a 12 month low of $149.91 and a 12 month high of $180.43. The stock's fifty day moving average price is $160.13 and its 200 day moving average price is $164.05. The firm has a market capitalization of $353.20 billion, a PE ratio of 23.14, a PEG ratio of 4.27 and a beta of 0.40. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.70 and a quick ratio of 0.50.

Procter & Gamble (NYSE:PG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.06. Procter & Gamble had a net margin of 18.95% and a return on equity of 32.56%. The firm had revenue of $20.89 billion for the quarter, compared to the consensus estimate of $20.79 billion. During the same quarter in the previous year, the company earned $1.40 earnings per share. The business's revenue was up 1.7% compared to the same quarter last year. On average, research analysts anticipate that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 18th will be paid a $1.0568 dividend. This represents a $4.23 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, July 18th. Procter & Gamble's payout ratio is currently 67.14%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PG. Redburn Partners set a $161.00 price objective on shares of Procter & Gamble in a research report on Thursday, May 1st. Piper Sandler increased their price objective on shares of Procter & Gamble from $160.00 to $164.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $170.00 target price (down from $178.00) on shares of Procter & Gamble in a research note on Friday, July 25th. Morgan Stanley set a $180.00 price objective on shares of Procter & Gamble and gave the stock an "overweight" rating in a report on Friday, April 25th. Finally, UBS Group set a $180.00 price target on shares of Procter & Gamble and gave the stock a "buy" rating in a research report on Wednesday. Nine research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Procter & Gamble currently has a consensus rating of "Moderate Buy" and an average price target of $175.88.

Procter & Gamble Company Profile

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.