NorthCrest Asset Manangement LLC Purchases 13,068 Shares of The Procter & Gamble Company (NYSE:PG)

NorthCrest Asset Manangement LLC raised its stake in The Procter & Gamble Company (NYSE:PG - Free Report) by 8.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 162,627 shares of the company's stock after purchasing an additional 13,068 shares during the quarter. Procter & Gamble accounts for 0.8% of NorthCrest Asset Manangement LLC's portfolio, making the stock its 28th biggest position. NorthCrest Asset Manangement LLC's holdings in Procter & Gamble were worth $27,265,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Procter & Gamble during the fourth quarter valued at approximately $5,244,463,000. Raymond James Financial Inc. bought a new position in shares of Procter & Gamble during the fourth quarter valued at approximately $1,010,685,000. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Procter & Gamble by 1,195.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company's stock valued at $580,596,000 after acquiring an additional 2,973,757 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Procter & Gamble by 62.5% during the fourth quarter. Capital Research Global Investors now owns 7,398,120 shares of the company's stock valued at $1,240,294,000 after acquiring an additional 2,846,560 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Procter & Gamble by 10.1% during the fourth quarter. Northern Trust Corp now owns 29,395,208 shares of the company's stock valued at $4,928,107,000 after acquiring an additional 2,703,757 shares in the last quarter. Institutional investors own 65.77% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PG. Raymond James reduced their price target on Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating on the stock in a research note on Friday, April 25th. Morgan Stanley set a $180.00 price target on Procter & Gamble and gave the stock an "overweight" rating in a research note on Friday, April 25th. Redburn Atlantic cut Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 price target on the stock. in a research note on Thursday, May 1st. Royal Bank of Canada raised Procter & Gamble from a "sector perform" rating to an "outperform" rating and increased their target price for the stock from $164.00 to $177.00 in a research note on Friday, April 25th. Finally, Piper Sandler increased their target price on Procter & Gamble from $160.00 to $164.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Eight equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Procter & Gamble has a consensus rating of "Moderate Buy" and an average price target of $178.52.

Insider Activity

In related news, insider Moses Victor Javier Aguilar sold 10,520 shares of Procter & Gamble stock in a transaction that occurred on 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 now owns 25,182 shares of the company's stock, valued at approximately $3,995,627.94. This trade represents a 29.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jennifer L. Davis sold 1,000 shares of Procter & Gamble 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 trade represents a 1.89% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.

Procter & Gamble Stock Performance

NYSE:PG traded up $1.36 on Friday, hitting $169.92. The stock had a trading volume of 12,584,837 shares, compared to its average volume of 7,308,668. The stock has a market cap of $398.38 billion, a price-to-earnings ratio of 27.06, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50. The business's 50-day simple moving average is $164.35 and its two-hundred day simple moving average is $167.40. The Procter & Gamble Company has a 52-week low of $156.58 and a 52-week high of $180.43.

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

Procter & Gamble Increases Dividend

The business also recently disclosed 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. This is a boost from Procter & Gamble's previous quarterly dividend of $1.01. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend was Monday, April 21st. Procter & Gamble's 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.