United Bank raised its stake in Procter & Gamble Company (The) (NYSE:PG - Free Report) by 13.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,235 shares of the company's stock after acquiring an additional 1,884 shares during the quarter. Procter & Gamble makes up 0.3% of United Bank's holdings, making the stock its 28th biggest position. United Bank's holdings in Procter & Gamble were worth $2,767,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in shares of Procter & Gamble by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 56,472,195 shares of the company's stock valued at $9,457,000,000 after purchasing an additional 1,267,419 shares in the last quarter. Norges Bank purchased a new stake in Procter & Gamble during the 4th quarter valued at $5,244,463,000. Northern Trust Corp boosted its position in Procter & Gamble by 10.1% during the 4th quarter. Northern Trust Corp now owns 29,395,208 shares of the company's stock valued at $4,928,107,000 after buying an additional 2,703,757 shares during the period. Franklin Resources Inc. boosted its position in Procter & Gamble by 6.4% during the 4th quarter. Franklin Resources Inc. now owns 20,197,996 shares of the company's stock valued at $3,386,194,000 after buying an additional 1,209,275 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Procter & Gamble by 15.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 16,274,563 shares of the company's stock valued at $2,728,430,000 after buying an additional 2,224,912 shares during the period. 65.77% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
PG has been the subject of several analyst reports. Barclays increased their price target on shares of Procter & Gamble from $160.00 to $161.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 15th. Citigroup reduced 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. Piper Sandler raised their price objective on shares of Procter & Gamble from $160.00 to $164.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. JPMorgan Chase & Co. reduced their price target on shares of Procter & Gamble from $181.00 to $172.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Finally, Bank of America reduced their price target on shares of Procter & Gamble from $190.00 to $180.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Procter & Gamble has a consensus rating of "Moderate Buy" and an average price target of $176.84.
View Our Latest Analysis on Procter & Gamble
Insider Activity at Procter & Gamble
In related 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 completion of the transaction, the chief executive officer directly owned 51,965 shares of the company's stock, valued at $8,386,111.70. This trade represents a 1.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction, the insider directly owned 25,182 shares of the company's stock, valued at $3,995,627.94. The trade was a 29.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.
Procter & Gamble Price Performance
PG traded up $3.27 during trading hours on Tuesday, hitting $158.30. The company's stock had a trading volume of 8,185,259 shares, compared to its average volume of 7,658,450. The business's 50-day moving average price is $161.31 and its 200-day moving average price is $164.41. Procter & Gamble Company has a 12 month low of $151.90 and a 12 month high of $180.43. The stock has a market cap of $371.13 billion, a price-to-earnings ratio of 25.13, a P/E/G ratio of 4.41 and a beta of 0.40. The company has a current ratio of 0.71, a quick ratio of 0.50 and a debt-to-equity ratio of 0.47.
Procter & Gamble (NYSE:PG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, beating analysts' consensus estimates of $1.53 by $0.01. Procter & Gamble had a net margin of 18.46% and a return on equity of 32.67%. The business had revenue of $19.78 billion for the quarter, compared to analysts' expectations of $20.42 billion. During the same quarter in the previous year, the business posted $1.52 earnings per share. The business's revenue was down 2.1% compared to the same quarter last year. Sell-side analysts expect that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.
Procter & Gamble Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 18th will be given a $1.0568 dividend. This represents a $4.23 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Friday, July 18th. Procter & Gamble's payout ratio is currently 67.14%.
About Procter & Gamble
(
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.
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