The Procter & Gamble Company (NYSE:PG) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp reduced its position in The Procter & Gamble Company (NYSE:PG - Free Report) by 0.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,259,864 shares of the company's stock after selling 11,007 shares during the quarter. Procter & Gamble makes up about 1.5% of Fifth Third Bancorp's investment portfolio, making the stock its 11th largest holding. Fifth Third Bancorp owned approximately 0.10% of Procter & Gamble worth $385,126,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PG. Norges Bank bought a new position in shares of Procter & Gamble in the fourth quarter worth approximately $5,244,463,000. GAMMA Investing LLC boosted its position in shares of Procter & Gamble by 20,758.5% during the first 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 during the last quarter. Raymond James Financial Inc. bought a new position in shares of Procter & Gamble during the fourth quarter worth $1,010,685,000. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Procter & Gamble by 1,195.1% during the fourth 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 during the last quarter. Finally, Capital Research Global Investors boosted its position in shares of Procter & Gamble by 62.5% during the fourth 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 during the last quarter. 65.77% of the stock is currently owned by institutional investors.

Procter & Gamble Trading Up 0.6%

Procter & Gamble stock traded up $0.99 during trading hours on Thursday, hitting $163.10. The company had a trading volume of 6,501,892 shares, compared to its average volume of 7,358,416. The firm has a market cap of $382.39 billion, a P/E ratio of 25.97, a P/E/G ratio of 3.76 and a beta of 0.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76. The Procter & Gamble Company has a 1 year low of $156.58 and a 1 year high of $180.43. The company has a 50-day moving average price of $163.64 and a two-hundred day moving average price of $167.05.

Procter & Gamble (NYSE:PG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, topping 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 during the quarter, compared to analysts' expectations of $20.42 billion. During the same quarter in the prior year, the company earned $1.52 EPS. The company's revenue was down 2.1% compared to the same quarter last year. On average, sell-side analysts anticipate that The Procter & Gamble Company will post 6.91 earnings per share for the current 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 given 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 2.59%. Procter & Gamble's dividend payout ratio is presently 66.98%.

Insider Activity at Procter & Gamble

In other Procter & Gamble news, CEO Jennifer L. Davis sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total transaction of $161,380.00. Following the transaction, the chief executive officer now owns 51,965 shares in the company, valued at approximately $8,386,111.70. This represents a 1.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the company's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the transaction, the insider now owns 25,182 shares in the company, valued at $3,995,627.94. The trade was a 29.47% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PG has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their target price on shares of Procter & Gamble from $181.00 to $172.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Redburn Partners set a $161.00 target price on shares of Procter & Gamble in a research report on Thursday, May 1st. Morgan Stanley set a $180.00 target price on shares of Procter & Gamble and gave the stock an "overweight" rating in a research report on Friday, April 25th. Evercore ISI reaffirmed 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. Finally, Truist Financial decreased their price target on shares of Procter & Gamble from $185.00 to $180.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Eight analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $178.86.

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.