Comerica Bank Reduces Stock Position in The Procter & Gamble Company (NYSE:PG)

Comerica Bank cut its stake in shares of The Procter & Gamble Company (NYSE:PG - Free Report) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 803,290 shares of the company's stock after selling 9,199 shares during the period. Procter & Gamble accounts for 0.5% of Comerica Bank's holdings, making the stock its 25th largest position. Comerica Bank's holdings in Procter & Gamble were worth $134,672,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. NewSquare Capital LLC grew its holdings in shares of Procter & Gamble by 933.3% during the 4th quarter. NewSquare Capital LLC now owns 155 shares of the company's stock valued at $26,000 after purchasing an additional 140 shares during the last quarter. Hoey Investments Inc. grew its holdings in Procter & Gamble by 321.7% during the 4th quarter. Hoey Investments Inc. now owns 194 shares of the company's stock worth $33,000 after acquiring an additional 148 shares during the last quarter. LFA Lugano Financial Advisors SA bought a new stake in shares of Procter & Gamble in the 4th quarter valued at about $34,000. Atlantic Private Wealth LLC increased its position in shares of Procter & Gamble by 95.3% during the fourth quarter. Atlantic Private Wealth LLC now owns 207 shares of the company's stock worth $35,000 after buying an additional 101 shares during the period. Finally, Prudent Man Investment Management Inc. acquired a new position in Procter & Gamble in the fourth quarter valued at $38,000. 65.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PG. Morgan Stanley set a $180.00 price objective on shares of Procter & Gamble and gave the stock an "overweight" rating in a research report on Friday, April 25th. Erste Group Bank lowered Procter & Gamble from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. JPMorgan Chase & Co. lowered their target price on Procter & Gamble from $181.00 to $172.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Piper Sandler restated an "underperform" rating on shares of Procter & Gamble in a report on Friday, April 25th. Finally, Citigroup lowered their target price 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $179.80.

Insider Buying and Selling at Procter & Gamble

In other news, CEO Jennifer L. Davis sold 1,000 shares of the firm's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total transaction 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 $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, CEO Gary A. Coombe sold 35,000 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $173.68, for a total transaction of $6,078,800.00. Following the sale, the chief executive officer now directly owns 22,051 shares in the company, valued at $3,829,817.68. This trade represents a 61.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,000 shares of company stock valued at $9,330,060. 0.18% of the stock is currently owned by company insiders.

Procter & Gamble Trading Up 0.4 %

Shares of Procter & Gamble stock traded up $0.61 during trading on Friday, reaching $160.59. 5,744,311 shares of the stock were exchanged, compared to its average volume of 7,157,717. The stock's fifty day moving average is $167.61 and its 200 day moving average is $168.08. The firm has a market cap of $376.51 billion, a price-to-earnings ratio of 25.57, 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 1 year low of $156.58 and a 1 year 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, beating analysts' consensus estimates of $1.53 by $0.01. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The business had revenue of $19.78 billion for the quarter, compared to the consensus estimate of $20.42 billion. During the same period in the previous year, the firm earned $1.52 EPS. The company's quarterly revenue was down 2.1% compared to the same quarter last year. As a group, equities research analysts expect that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Monday, April 21st will be given a dividend of $1.0568 per share. The ex-dividend date of this dividend is 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 2.63%. Procter & Gamble's payout ratio is currently 66.98%.

Procter & Gamble 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.