Grove Bank & Trust Increases Position in The Procter & Gamble Company (NYSE:PG)

Grove Bank & Trust increased its stake in The Procter & Gamble Company (NYSE:PG - Free Report) by 10.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,876 shares of the company's stock after acquiring an additional 1,648 shares during the period. Grove Bank & Trust's holdings in Procter & Gamble were worth $2,876,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PG. Brighton Jones LLC lifted its stake in 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 purchasing an additional 13,617 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in Procter & Gamble in the fourth quarter worth $50,049,000. Bank Pictet & Cie Europe AG lifted its stake in Procter & Gamble by 493.6% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 341,750 shares of the company's stock worth $57,294,000 after purchasing an additional 284,174 shares during the last quarter. Congress Asset Management Co. lifted its stake in Procter & Gamble by 6.7% in the fourth quarter. Congress Asset Management Co. now owns 43,601 shares of the company's stock worth $7,310,000 after purchasing an additional 2,737 shares during the last quarter. Finally, Principal Securities Inc. lifted its stake in Procter & Gamble by 14.1% in the fourth quarter. Principal Securities Inc. now owns 32,664 shares of the company's stock worth $5,476,000 after purchasing an additional 4,037 shares during the last quarter. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Procter & Gamble news, CEO Jennifer L. Davis sold 1,000 shares of the company's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total value of $161,380.00. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the sale, the insider now owns 25,182 shares in the company, valued at approximately $3,995,627.94. The trade was a 29.47% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.

Procter & Gamble Price Performance

PG stock opened at $160.79 on Tuesday. The Procter & Gamble Company has a 1 year low of $156.58 and a 1 year high of $180.43. The company has a market cap of $376.99 billion, a P/E ratio of 25.60, a PEG ratio of 3.76 and a beta of 0.43. The firm has a 50-day moving average of $163.81 and a 200 day moving average of $166.51. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55.

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 (EPS) 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 net margin of 18.35% and a return on equity of 33.00%. Procter & Gamble's revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.52 earnings per share. On average, sell-side analysts forecast that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Increases Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend was Monday, April 21st. This is a boost from Procter & Gamble's previous quarterly dividend of $1.01. Procter & Gamble's dividend payout ratio is 66.98%.

Wall Street Analysts Forecast Growth

PG has been the subject of several recent research reports. Raymond James lowered their price target on shares of Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Redburn Atlantic downgraded shares of Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 price target for the company. in a research note on Thursday, May 1st. Erste Group Bank downgraded shares of 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 shares of Procter & Gamble from $185.00 to $180.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, Citigroup lowered their price objective on shares of Procter & Gamble from $200.00 to $181.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Eight equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $178.86.

About Procter & Gamble

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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