The Procter & Gamble Company (NYSE:PG) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. cut its position in shares of The Procter & Gamble Company (NYSE:PG - Free Report) by 0.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 553,621 shares of the company's stock after selling 2,312 shares during the period. Procter & Gamble makes up 3.3% of Meyer Handelman Co.'s holdings, making the stock its 3rd biggest holding. Meyer Handelman Co.'s holdings in Procter & Gamble were worth $94,348,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PG. Vanguard Group Inc. boosted its stake 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 during the period. Geode Capital Management LLC increased its position in shares of Procter & Gamble by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 56,472,195 shares of the company's stock worth $9,457,000,000 after acquiring an additional 1,267,419 shares during the period. Norges Bank acquired a new stake in Procter & Gamble in the 4th quarter valued at about $5,244,463,000. Northern Trust Corp raised its holdings in Procter & Gamble by 10.1% in the fourth quarter. Northern Trust Corp now owns 29,395,208 shares of the company's stock valued at $4,928,107,000 after acquiring an additional 2,703,757 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Procter & Gamble by 6.4% during the 4th quarter. Franklin Resources Inc. now owns 20,197,996 shares of the company's stock worth $3,386,194,000 after purchasing an additional 1,209,275 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PG has been the subject of several recent analyst reports. Redburn Partners set a $161.00 target price on Procter & Gamble in a research note on Thursday, May 1st. Truist Financial dropped their price target on Procter & Gamble from $185.00 to $180.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Bank of America reduced their target price 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. Royal Bank of Canada raised shares of Procter & Gamble from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from $164.00 to $177.00 in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Procter & Gamble from $181.00 to $172.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Eight analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $178.52.

Procter & Gamble Trading Down 1.3%

NYSE:PG traded down $2.24 on Monday, hitting $167.65. 7,573,563 shares of the stock were exchanged, compared to its average volume of 7,309,644. The stock has a market cap of $393.06 billion, a PE ratio of 26.70, a PEG ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a fifty-two week low of $156.58 and a fifty-two week high of $180.43. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The stock has a fifty day moving average of $164.35 and a 200-day moving average of $167.40.

Procter & Gamble (NYSE:PG - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.54 EPS 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 analyst estimates of $20.42 billion. During the same quarter last year, the firm posted $1.52 earnings per share. Procter & Gamble's revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, equities analysts expect that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Monday, April 21st were given a dividend of $1.0568 per share. This represents a $4.23 dividend on an annualized basis and a yield of 2.52%. This is a boost from Procter & Gamble's previous quarterly dividend of $1.01. The ex-dividend date was Monday, April 21st. Procter & Gamble's dividend payout ratio is 66.98%.

Insider Activity at Procter & Gamble

In other Procter & Gamble 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the business'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 transaction, the insider now owns 25,182 shares in the company, valued at $3,995,627.94. This represents a 29.47% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

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.