1ST Source Bank Sells 523 Shares of The Procter & Gamble Company (NYSE:PG)

1ST Source Bank decreased its holdings in The Procter & Gamble Company (NYSE:PGFree Report) by 1.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 51,948 shares of the company’s stock after selling 523 shares during the period. 1ST Source Bank’s holdings in Procter & Gamble were worth $7,577,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PG. State Street Corp raised its holdings in shares of Procter & Gamble by 0.8% during the second quarter. State Street Corp now owns 103,104,467 shares of the company’s stock valued at $15,645,072,000 after purchasing an additional 817,674 shares during the period. Geode Capital Management LLC raised its holdings in shares of Procter & Gamble by 1.1% during the first quarter. Geode Capital Management LLC now owns 46,754,131 shares of the company’s stock valued at $6,936,343,000 after purchasing an additional 510,559 shares during the period. Morgan Stanley raised its holdings in shares of Procter & Gamble by 12.6% during the fourth quarter. Morgan Stanley now owns 44,320,700 shares of the company’s stock valued at $6,717,246,000 after purchasing an additional 4,959,527 shares during the period. Moneta Group Investment Advisors LLC raised its holdings in shares of Procter & Gamble by 96,526.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 38,535,557 shares of the company’s stock valued at $5,840,449,000 after purchasing an additional 38,495,676 shares during the period. Finally, Norges Bank acquired a new position in shares of Procter & Gamble during the fourth quarter valued at about $3,752,321,000. Institutional investors own 63.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus upped their price objective on shares of Procter & Gamble from $155.00 to $157.00 and gave the company a “hold” rating in a report on Wednesday, January 24th. DZ Bank upgraded shares of Procter & Gamble from a “sell” rating to a “hold” rating and set a $155.00 target price on the stock in a report on Friday, October 20th. Truist Financial upped their target price on shares of Procter & Gamble from $155.00 to $160.00 and gave the stock a “hold” rating in a report on Wednesday, January 31st. UBS Group increased their price objective on shares of Procter & Gamble from $172.00 to $178.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Finally, Jefferies Financial Group initiated coverage on shares of Procter & Gamble in a research note on Monday, November 13th. They issued a “buy” rating and a $177.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $167.06.

Get Our Latest Report on Procter & Gamble

Insider Activity

In other news, insider Marc S. Pritchard sold 101,704 shares of the firm’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $153.57, for a total transaction of $15,618,683.28. Following the sale, the insider now owns 163,428 shares in the company, valued at approximately $25,097,637.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Marc S. Pritchard sold 101,704 shares of Procter & Gamble stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $153.57, for a total value of $15,618,683.28. Following the transaction, the insider now owns 163,428 shares in the company, valued at approximately $25,097,637.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO R. Alexandra Keith sold 6,575 shares of Procter & Gamble stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $153.47, for a total transaction of $1,009,065.25. Following the completion of the transaction, the chief executive officer now owns 5,620 shares in the company, valued at approximately $862,501.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 278,658 shares of company stock worth $42,921,732. 0.17% of the stock is currently owned by corporate insiders.

Procter & Gamble Stock Performance

PG traded down $0.53 on Monday, hitting $156.89. The company’s stock had a trading volume of 1,863,420 shares, compared to its average volume of 7,970,434. The company’s 50 day simple moving average is $150.04 and its 200-day simple moving average is $150.86. The firm has a market cap of $369.17 billion, a P/E ratio of 26.37, a price-to-earnings-growth ratio of 3.21 and a beta of 0.45. The Procter & Gamble Company has a 12 month low of $136.10 and a 12 month high of $159.83. The company has a quick ratio of 0.44, a current ratio of 0.64 and a debt-to-equity ratio of 0.48.

Procter & Gamble (NYSE:PGGet Free Report) last released its quarterly earnings data on Tuesday, January 23rd. The company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.70 by $0.14. Procter & Gamble had a net margin of 17.60% and a return on equity of 34.04%. The company had revenue of $21.44 billion during the quarter, compared to the consensus estimate of $21.48 billion. During the same period last year, the firm earned $1.59 EPS. Procter & Gamble’s revenue for the quarter was up 3.2% on a year-over-year basis. Analysts forecast that The Procter & Gamble Company will post 6.45 EPS for the current year.

Procter & Gamble Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 19th will be given a dividend of $0.9407 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Thursday, January 18th. Procter & Gamble’s dividend payout ratio (DPR) is currently 62.98%.

Procter & Gamble Company Profile

(Free Report)

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.

Further Reading

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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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