Rockland Trust Co. Increases Holdings in The Procter & Gamble Company (NYSE:PG)

Rockland Trust Co. raised its holdings in The Procter & Gamble Company (NYSE:PG - Free Report) by 6.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 205,732 shares of the company's stock after buying an additional 12,449 shares during the period. Procter & Gamble comprises about 1.8% of Rockland Trust Co.'s holdings, making the stock its 17th largest position. Rockland Trust Co.'s holdings in Procter & Gamble were worth $35,061,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PG. Vanguard Group Inc. grew its stake in shares of Procter & Gamble by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 229,794,073 shares of the company's stock worth $38,524,976,000 after acquiring an additional 1,592,061 shares in the last quarter. Geode Capital Management LLC grew its position in Procter & Gamble by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 56,472,195 shares of the company's stock worth $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 in the 4th quarter valued at about $5,244,463,000. Northern Trust Corp lifted its position in shares of Procter & Gamble by 10.1% during the 4th quarter. Northern Trust Corp now owns 29,395,208 shares of the company's stock worth $4,928,107,000 after buying an additional 2,703,757 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Procter & Gamble by 6.4% in the fourth quarter. Franklin Resources Inc. now owns 20,197,996 shares of the company's stock valued at $3,386,194,000 after acquiring an additional 1,209,275 shares in the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, insider Moses Victor Javier Aguilar sold 10,520 shares of the business's stock in a transaction that occurred 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 sale, the insider now owns 25,182 shares in the company, valued at approximately $3,995,627.94. The trade was a 29.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 of the company's stock, valued at approximately $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 currently owned by insiders.

Procter & Gamble Price Performance

Shares of PG stock traded down $3.12 during trading on Friday, hitting $160.06. The company had a trading volume of 7,093,816 shares, compared to its average volume of 7,367,226. The stock's 50-day moving average is $163.75 and its two-hundred day moving average is $166.82. The stock has a market capitalization of $375.27 billion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 3.76 and a beta of 0.43. 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 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 posted its quarterly earnings data on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, beating 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 firm had revenue of $19.78 billion for the quarter, compared to analysts' expectations of $20.42 billion. During the same quarter last year, the company posted $1.52 EPS. The business's quarterly revenue was down 2.1% on a year-over-year basis. As a group, analysts predict that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The company 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. The ex-dividend date was Monday, April 21st. This is a positive change from Procter & Gamble's previous quarterly dividend of $1.01. This represents a $4.23 annualized dividend and a dividend yield of 2.64%. Procter & Gamble's dividend payout ratio is 66.98%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PG. Citigroup lowered their price target on shares of Procter & Gamble from $200.00 to $181.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Evercore ISI restated an "outperform" rating and issued a $190.00 target price (up from $170.00) on shares of Procter & Gamble in a research note on Tuesday, June 3rd. Royal Bank of Canada upgraded Procter & Gamble from a "sector perform" rating to an "outperform" rating and increased their price target for the stock from $164.00 to $177.00 in a research note on Friday, April 25th. Piper Sandler boosted their price objective on Procter & Gamble from $160.00 to $164.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Finally, Redburn Partners set a $161.00 price objective on shares of Procter & Gamble in a report on Thursday, May 1st. Eight equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $178.86.

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.