Adirondack Trust Co. Has $4.83 Million Holdings in The Procter & Gamble Company (NYSE:PG)

Adirondack Trust Co. reduced its holdings in The Procter & Gamble Company (NYSE:PG) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,398 shares of the company’s stock after selling 987 shares during the quarter. Procter & Gamble comprises 2.1% of Adirondack Trust Co.’s holdings, making the stock its 7th largest holding. Adirondack Trust Co.’s holdings in Procter & Gamble were worth $4,831,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Wellington Management Group LLP boosted its position in shares of Procter & Gamble by 9.4% during the third quarter. Wellington Management Group LLP now owns 35,608,913 shares of the company’s stock valued at $5,193,916,000 after buying an additional 3,047,557 shares during the last quarter. Northern Trust Corp raised its stake in shares of Procter & Gamble by 2.3% in the third quarter. Northern Trust Corp now owns 29,313,150 shares of the company’s stock valued at $4,275,616,000 after buying an additional 670,862 shares during the period. Norges Bank bought a new stake in shares of Procter & Gamble in the fourth quarter valued at $3,956,117,000. Charles Schwab Investment Management Inc. raised its stake in shares of Procter & Gamble by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 16,209,425 shares of the company’s stock valued at $2,336,552,000 after buying an additional 206,165 shares during the period. Finally, Royal Bank of Canada raised its stake in shares of Procter & Gamble by 3.2% during the 3rd quarter. Royal Bank of Canada now owns 11,170,305 shares of the company’s stock valued at $1,629,299,000 after purchasing an additional 346,925 shares during the period. 65.77% of the stock is currently owned by institutional investors.

Insider Transactions at Procter & Gamble

In related news, CEO Sundar G. Raman sold 31,924 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $166.95, for a total value of $5,329,711.80. Following the transaction, the chief executive officer now directly owns 19,042 shares of the company’s stock, valued at approximately $3,179,061.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Sundar G. Raman sold 31,924 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $166.95, for a total value of $5,329,711.80. Following the transaction, the chief executive officer now directly owns 19,042 shares of the company’s stock, valued at approximately $3,179,061.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Shailesh Jejurikar sold 31,000 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $162.90, for a total value of $5,049,900.00. Following the sale, the chief operating officer now directly owns 9,739 shares in the company, valued at $1,586,483.10. The disclosure for this sale can be found here. Insiders have sold a total of 154,544 shares of company stock worth $25,413,051 in the last ninety days. Insiders own 0.17% of the company’s stock.

Procter & Gamble Stock Up 0.6 %

PG stock opened at $168.56 on Wednesday. The Procter & Gamble Company has a twelve month low of $141.45 and a twelve month high of $168.97. The company has a quick ratio of 0.48, a current ratio of 0.69 and a debt-to-equity ratio of 0.49. The firm has a market cap of $397.83 billion, a PE ratio of 27.54, a price-to-earnings-growth ratio of 3.40 and a beta of 0.42. The business has a 50 day moving average of $163.86 and a 200 day moving average of $157.75.

Procter & Gamble (NYSE:PG) last issued its earnings results on Friday, April 19th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.42 by $0.10. Procter & Gamble had a return on equity of 33.91% and a net margin of 18.00%. The business had revenue of $20.20 billion for the quarter, compared to the consensus estimate of $20.43 billion. During the same period last year, the business posted $1.37 EPS. The company’s revenue was up .6% compared to the same quarter last year. On average, research analysts forecast that The Procter & Gamble Company will post 6.55 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th were paid a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a yield of 2.39%. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Thursday, April 18th. Procter & Gamble’s dividend payout ratio (DPR) is currently 65.85%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Truist Financial upgraded Procter & Gamble from a “hold” rating to a “buy” rating and boosted their target price for the stock from $160.00 to $175.00 in a research report on Monday, March 11th. The Goldman Sachs Group began coverage on Procter & Gamble in a report on Friday, March 1st. They issued a “neutral” rating and a $168.00 price objective for the company. StockNews.com cut Procter & Gamble from a “buy” rating to a “hold” rating in a report on Monday. Barclays increased their target price on Procter & Gamble from $168.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, April 23rd. Finally, Argus upped their price target on Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $169.76.

Procter & Gamble Company Profile

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.