Retirement Systems of Alabama lowered its position in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 1.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,019,702 shares of the company's stock after selling 11,895 shares during the quarter. Procter & Gamble comprises approximately 0.7% of Retirement Systems of Alabama's holdings, making the stock its 21st largest holding. Retirement Systems of Alabama's holdings in Procter & Gamble were worth $173,778,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of PG. Norges Bank acquired a new position in Procter & Gamble during the 4th quarter worth approximately $5,244,463,000. GAMMA Investing LLC lifted its position in Procter & Gamble by 20,758.5% during the 1st quarter. GAMMA Investing LLC now owns 7,951,456 shares of the company's stock worth $1,355,087,000 after acquiring an additional 7,913,335 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Procter & Gamble during the 4th quarter worth approximately $1,010,685,000. Bank Julius Baer & Co. Ltd Zurich lifted its position in Procter & Gamble by 1,195.1% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company's stock worth $580,596,000 after acquiring an additional 2,973,757 shares in the last quarter. Finally, Capital Research Global Investors lifted its position in Procter & Gamble by 62.5% during the 4th quarter. Capital Research Global Investors now owns 7,398,120 shares of the company's stock worth $1,240,294,000 after acquiring an additional 2,846,560 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company's stock.
Procter & Gamble Price Performance
NYSE:PG traded up $2.03 during mid-day trading on Monday, reaching $161.11. 6,578,905 shares of the stock were exchanged, compared to its average volume of 7,384,752. The business has a fifty day moving average price of $163.19 and a 200 day moving average price of $165.91. The firm has a market capitalization of $377.73 billion, a PE ratio of 25.57, a PEG ratio of 4.69 and a beta of 0.43. Procter & Gamble Company has a 1-year low of $156.58 and a 1-year high of $180.43. 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 released its 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 firm had revenue of $19.78 billion for the quarter, compared to analyst estimates of $20.42 billion. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.46%. Procter & Gamble's revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.52 earnings per share. Research analysts expect that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.
Procter & Gamble Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, April 21st were issued 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 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date was Monday, April 21st. Procter & Gamble's payout ratio is presently 67.14%.
Insider Buying and Selling
In related news, insider Moses Victor Javier Aguilar sold 10,520 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $158.67, for a total value of $1,669,208.40. Following the completion of the transaction, the insider now owns 25,182 shares in the company, valued at $3,995,627.94. This trade represents a 29.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jennifer L. Davis sold 1,000 shares of the 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 completion of the transaction, the chief executive officer now owns 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 disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several equities analysts recently commented on the company. Bank of America reduced their price target on Procter & Gamble from $190.00 to $180.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Piper Sandler increased their target price on Procter & Gamble from $160.00 to $164.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Redburn Atlantic cut Procter & Gamble from a "buy" rating to a "neutral" rating and set a $161.00 target price for the company. in a research note on Thursday, May 1st. Erste Group Bank cut Procter & Gamble from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 30th. Finally, Morgan Stanley set a $180.00 target price on Procter & Gamble and gave the company an "overweight" rating 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $178.86.
Get Our Latest Stock Analysis on Procter & Gamble
Procter & Gamble Profile
(
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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