Wesbanco Bank Inc. Buys 2,704 Shares of The Procter & Gamble Company (NYSE:PG)

Wesbanco Bank Inc. boosted its position in shares of The Procter & Gamble Company (NYSE:PG - Free Report) by 1.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 254,391 shares of the company's stock after buying an additional 2,704 shares during the quarter. Procter & Gamble makes up approximately 1.5% of Wesbanco Bank Inc.'s holdings, making the stock its 11th largest holding. Wesbanco Bank Inc.'s holdings in Procter & Gamble were worth $43,353,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. First Citizens Bank & Trust Co. boosted its stake in Procter & Gamble by 3.4% in the first quarter. First Citizens Bank & Trust Co. now owns 139,038 shares of the company's stock valued at $23,695,000 after acquiring an additional 4,550 shares during the last quarter. Sherman Asset Management Inc. boosted its position in shares of Procter & Gamble by 5.6% in the 1st quarter. Sherman Asset Management Inc. now owns 2,674 shares of the company's stock worth $456,000 after purchasing an additional 143 shares during the last quarter. Abacus Planning Group Inc. grew its stake in shares of Procter & Gamble by 1.2% during the first quarter. Abacus Planning Group Inc. now owns 5,759 shares of the company's stock worth $981,000 after purchasing an additional 67 shares during the period. Capital Investment Advisors LLC increased its holdings in Procter & Gamble by 0.8% in the first quarter. Capital Investment Advisors LLC now owns 211,461 shares of the company's stock valued at $36,037,000 after purchasing an additional 1,755 shares during the last quarter. Finally, Hickory Point Bank & Trust boosted its holdings in Procter & Gamble by 1.6% during the first quarter. Hickory Point Bank & Trust now owns 5,148 shares of the company's stock worth $877,000 after buying an additional 83 shares during the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PG shares. Bank of America decreased their target price 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. Citigroup decreased their price objective on Procter & Gamble from $200.00 to $181.00 and set a "buy" rating for the company in a research report on Friday, April 25th. JPMorgan Chase & Co. cut their price target on shares of Procter & Gamble from $181.00 to $172.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Truist Financial lowered their price objective on shares of Procter & Gamble from $185.00 to $180.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Finally, Redburn Atlantic lowered shares of 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. Eight 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 company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $178.86.

Insiders Place Their Bets

In other Procter & Gamble news, insider Moses Victor Javier Aguilar sold 10,520 shares of the firm'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 completion of the sale, the insider now directly owns 25,182 shares in the company, valued at $3,995,627.94. This trade represents a 29.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jennifer L. Davis sold 1,000 shares of the company's 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 directly owns 51,965 shares in the company, valued at approximately $8,386,111.70. This represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.18% of the company's stock.

Procter & Gamble Stock Performance

Shares of PG stock opened at $164.01 on Monday. The company has a fifty day moving average price of $164.01 and a two-hundred day moving average price of $167.21. The Procter & Gamble Company has a one year low of $156.58 and a one year high of $180.43. The stock has a market cap of $384.53 billion, a P/E ratio of 26.12, 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 current ratio of 0.76 and a quick ratio of 0.55.

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, topping analysts' consensus estimates of $1.53 by $0.01. The business had revenue of $19.78 billion during the quarter, compared to analysts' expectations of $20.42 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. Procter & Gamble's quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the company posted $1.52 earnings per share. As a group, equities analysts predict that The Procter & Gamble Company will post 6.91 EPS for the current 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 paid a $1.0568 dividend. This represents a $4.23 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date was Monday, April 21st. This is a boost from Procter & Gamble's previous quarterly dividend of $1.01. Procter & Gamble's dividend payout ratio is 66.98%.

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.

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