Sterling Investment Counsel LLC increased its stake in shares of Procter & Gamble Company (The) (NYSE:PG - Free Report) by 133.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,982 shares of the company's stock after buying an additional 2,278 shares during the quarter. Sterling Investment Counsel LLC's holdings in Procter & Gamble were worth $679,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Procter & Gamble by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 229,794,073 shares of the company's stock worth $38,524,976,000 after buying an additional 1,592,061 shares in the last quarter. Geode Capital Management LLC grew its stake 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 valued at $9,457,000,000 after purchasing an additional 1,267,419 shares during the period. Norges Bank bought a new position in Procter & Gamble in the 4th quarter valued at $5,244,463,000. Northern Trust Corp grew its stake in Procter & Gamble by 10.1% in the 4th quarter. Northern Trust Corp now owns 29,395,208 shares of the company's stock valued at $4,928,107,000 after purchasing an additional 2,703,757 shares during the period. Finally, Franklin Resources Inc. grew its stake in Procter & Gamble by 6.4% in the 4th quarter. Franklin Resources Inc. now owns 20,197,996 shares of the company's stock valued at $3,386,194,000 after purchasing an additional 1,209,275 shares during the period. Institutional investors own 65.77% of the company's stock.
Insider Buying and Selling at Procter & Gamble
In other Procter & Gamble news, CEO Jennifer L. Davis sold 1,000 shares of the firm's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total value of $161,380.00. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the firm's stock in a transaction dated Monday, May 5th. The shares were 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 directly owns 25,182 shares in the company, valued at approximately $3,995,627.94. The trade was a 29.47% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.18% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the company. Piper Sandler upped 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. Bank of America reduced their price objective on Procter & Gamble from $190.00 to $180.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Raymond James Financial reduced their price objective on Procter & Gamble from $190.00 to $185.00 and set an "outperform" rating for the company in a research note on Friday, April 25th. Citigroup reduced their price objective on Procter & Gamble from $200.00 to $181.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, Evercore ISI reiterated an "outperform" rating and set a $190.00 price target (up previously from $170.00) on shares of Procter & Gamble in a research note on Tuesday, June 3rd. Eight research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $178.86.
Read Our Latest Stock Report on Procter & Gamble
Procter & Gamble Stock Performance
Shares of PG opened at $157.86 on Thursday. The stock's 50-day simple moving average is $163.63 and its 200 day simple moving average is $166.40. The stock has a market capitalization of $370.11 billion, a price-to-earnings ratio of 25.06, a price-to-earnings-growth ratio of 4.67 and a beta of 0.43. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.71. 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 issued its quarterly earnings data 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 business had revenue of $19.78 billion for the quarter, compared to analysts' expectations of $20.42 billion. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.46%. The firm's quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.52 EPS. Research analysts forecast that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.
Procter & Gamble Increases Dividend
The business also recently disclosed 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 boost from Procter & Gamble's previous quarterly dividend of $1.01. The ex-dividend date of this dividend was Monday, April 21st. This represents a $4.23 dividend on an annualized basis and a yield of 2.68%. Procter & Gamble's dividend payout ratio is 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.
Further Reading
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