Hanson & Doremus Investment Management Grows Stock Holdings in The Procter & Gamble Company (NYSE:PG)

Hanson & Doremus Investment Management lifted its position in shares of The Procter & Gamble Company (NYSE:PG - Free Report) by 45.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,704 shares of the company's stock after purchasing an additional 6,772 shares during the period. Hanson & Doremus Investment Management's holdings in Procter & Gamble were worth $3,699,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Traphagen Investment Advisors LLC raised its stake in Procter & Gamble by 9.6% during the 1st quarter. Traphagen Investment Advisors LLC now owns 5,447 shares of the company's stock worth $928,000 after acquiring an additional 478 shares in the last quarter. Access Financial Services Inc. raised its stake in Procter & Gamble by 45.6% during the 1st quarter. Access Financial Services Inc. now owns 10,824 shares of the company's stock worth $1,845,000 after acquiring an additional 3,392 shares in the last quarter. Bank Pictet & Cie Europe AG raised its stake in Procter & Gamble by 17.1% during the 1st quarter. Bank Pictet & Cie Europe AG now owns 400,073 shares of the company's stock worth $68,180,000 after acquiring an additional 58,323 shares in the last quarter. Morton Capital Management LLC CA raised its stake in Procter & Gamble by 207.3% during the 1st quarter. Morton Capital Management LLC CA now owns 23,095 shares of the company's stock worth $3,936,000 after acquiring an additional 15,580 shares in the last quarter. Finally, North Star Investment Management Corp. raised its stake in Procter & Gamble by 0.5% during the 1st quarter. North Star Investment Management Corp. now owns 41,377 shares of the company's stock worth $7,052,000 after acquiring an additional 202 shares in the last quarter. 65.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PG has been the topic of several research analyst reports. Citigroup cut their price target on shares of Procter & Gamble from $200.00 to $181.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Evercore ISI reiterated an "outperform" rating and set a $190.00 price target (up from $170.00) on shares of Procter & Gamble in a research note on Tuesday, June 3rd. Raymond James dropped their price objective on shares of Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Redburn Atlantic lowered shares of Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 price objective on the stock. in a research note on Thursday, May 1st. Finally, Bank of America dropped their price objective on shares of Procter & Gamble from $190.00 to $180.00 and set a "buy" rating on the stock 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's stock. Based on data from MarketBeat.com, Procter & Gamble presently has a consensus rating of "Moderate Buy" and an average target price of $178.86.

Insiders Place Their Bets

In other news, CEO Jennifer L. Davis sold 1,000 shares of the 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 sale, the chief executive officer now directly owns 51,965 shares in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. 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 completion of the sale, the insider now owns 25,182 shares in the company, valued at $3,995,627.94. This represents a 29.47% 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 1.9%

Shares of PG opened at $160.06 on Monday. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The firm's 50-day moving average is $163.75 and its two-hundred day moving average is $166.64. The Procter & Gamble Company has a twelve month low of $156.58 and a twelve month high of $180.43. The firm has a market capitalization of $375.27 billion, a P/E ratio of 25.49, a PEG ratio of 3.76 and a beta of 0.43.

Procter & Gamble (NYSE:PG - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.01. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The company had revenue of $19.78 billion for the quarter, compared to analyst estimates of $20.42 billion. During the same period in the prior year, the business posted $1.52 earnings per share. The firm's revenue for the quarter was down 2.1% compared to the same quarter last year. On average, research analysts predict that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were given a dividend of $1.0568 per share. This is a positive change from Procter & Gamble's previous quarterly dividend of $1.01. This represents a $4.23 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend was Monday, April 21st. Procter & Gamble's dividend payout ratio is presently 66.98%.

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.

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