Banque Pictet & Cie SA Purchases 59,148 Shares of Procter & Gamble Company (The) (NYSE:PG)

Banque Pictet & Cie SA grew its stake in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 10.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 613,961 shares of the company's stock after purchasing an additional 59,148 shares during the quarter. Procter & Gamble makes up 0.8% of Banque Pictet & Cie SA's portfolio, making the stock its 16th largest holding. Banque Pictet & Cie SA's holdings in Procter & Gamble were worth $104,631,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC increased its holdings in shares of Procter & Gamble by 51.5% in the fourth quarter. Brighton Jones LLC now owns 40,068 shares of the company's stock valued at $6,717,000 after buying an additional 13,617 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position in shares of Procter & Gamble by 493.6% during 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 period. Proficio Capital Partners LLC lifted its holdings in shares of Procter & Gamble by 50.4% during the fourth quarter. Proficio Capital Partners LLC now owns 10,360 shares of the company's stock valued at $1,737,000 after purchasing an additional 3,472 shares during the last quarter. Clare Market Investments LLC acquired a new position in shares of Procter & Gamble in the 4th quarter valued at $358,000. Finally, Davis R M Inc. increased its stake in Procter & Gamble by 4.5% in the 4th quarter. Davis R M Inc. now owns 259,529 shares of the company's stock worth $43,510,000 after purchasing an additional 11,087 shares in the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PG has been the subject of several recent analyst reports. Piper Sandler raised their target price on Procter & Gamble from $160.00 to $164.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Evercore ISI restated an "outperform" rating and set a $190.00 price objective (up from $170.00) on shares of Procter & Gamble in a research report on Tuesday, June 3rd. Truist Financial dropped their target price on Procter & Gamble from $185.00 to $180.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Citigroup decreased their price target on shares of Procter & Gamble from $200.00 to $181.00 and set a "buy" rating for the company in a report on Friday, April 25th. Finally, Erste Group Bank lowered shares of Procter & Gamble from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $178.45.

Procter & Gamble Stock Performance

Shares of NYSE PG traded down $1.54 during trading hours on Friday, hitting $156.95. 8,051,886 shares of the stock were exchanged, compared to its average volume of 7,589,099. Procter & Gamble Company has a one year low of $155.95 and a one year high of $180.43. The company's 50 day moving average is $161.84 and its 200 day moving average is $165.03. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.71 and a quick ratio of 0.50. The firm has a market capitalization of $367.98 billion, a P/E ratio of 24.91, a P/E/G ratio of 4.48 and a beta of 0.40.

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, beating analysts' consensus estimates of $1.53 by $0.01. The company had revenue of $19.78 billion during the quarter, compared to analysts' expectations of $20.42 billion. Procter & Gamble had a net margin of 18.46% and a return on equity of 32.67%. The business's quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.52 earnings per share. On average, research analysts expect that Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 18th will be issued a $1.0568 dividend. This represents a $4.23 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend is Friday, July 18th. Procter & Gamble's dividend payout ratio (DPR) is currently 66.98%.

Insider Activity at Procter & Gamble

In other news, CEO Jennifer L. Davis sold 1,000 shares of the firm's stock in a transaction 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 owned 51,965 shares in the company, valued at approximately $8,386,111.70. This trade represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the firm's stock in a transaction 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 completion of the sale, the insider owned 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. Insiders own 0.18% of the company's stock.

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.