The Procter & Gamble Company (NYSE:PG) Shares Sold by Park National Corp OH

Park National Corp OH trimmed its position in The Procter & Gamble Company (NYSE:PG) by 1.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 241,689 shares of the company’s stock after selling 4,540 shares during the period. Procter & Gamble makes up about 1.5% of Park National Corp OH’s portfolio, making the stock its 14th largest holding. Park National Corp OH’s holdings in Procter & Gamble were worth $39,214,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PG. Wellington Management Group LLP increased its holdings in shares of Procter & Gamble by 9.4% in 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 in the last quarter. Northern Trust Corp grew its holdings in shares of Procter & Gamble by 2.3% in the 3rd quarter. Northern Trust Corp now owns 29,313,150 shares of the company’s stock worth $4,275,616,000 after acquiring an additional 670,862 shares during the last quarter. Norges Bank acquired a new stake in shares of Procter & Gamble during the fourth quarter worth $3,956,117,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Procter & Gamble by 1.3% during 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 purchasing an additional 206,165 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in shares of Procter & Gamble by 3.2% in 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 owned by institutional investors.

Procter & Gamble Stock Performance

Shares of NYSE PG opened at $168.56 on Wednesday. The business’s 50-day simple moving average is $163.86 and its 200-day simple moving average is $157.75. The Procter & Gamble Company has a 52 week low of $141.45 and a 52 week high of $168.97. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.48 and a current ratio of 0.69. The firm has a market cap of $397.83 billion, a price-to-earnings ratio of 27.54, a P/E/G ratio of 3.40 and a beta of 0.42.

Procter & Gamble (NYSE:PG) last announced its earnings results on Friday, April 19th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.42 by $0.10. Procter & Gamble had a net margin of 18.00% and a return on equity of 33.91%. The firm had revenue of $20.20 billion for the quarter, compared to the consensus estimate of $20.43 billion. During the same quarter last year, the firm posted $1.37 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. As a group, equities research analysts expect that The Procter & Gamble Company will post 6.55 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

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

Analysts Set New Price Targets

A number of analysts have commented on PG shares. Argus upped their price objective on shares of Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Procter & Gamble from $172.00 to $171.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Truist Financial upgraded Procter & Gamble from a “hold” rating to a “buy” rating and increased their target price for the company from $160.00 to $175.00 in a report on Monday, March 11th. Barclays lifted their price target on Procter & Gamble from $168.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, April 23rd. Finally, Jefferies Financial Group increased their price objective on Procter & Gamble from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Procter & Gamble has a consensus rating of “Moderate Buy” and an average price target of $169.76.

Insider Activity

In other news, CEO Sundar G. Raman sold 31,924 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $166.95, for a total transaction of $5,329,711.80. Following the transaction, the chief executive officer now owns 19,042 shares in the company, valued at approximately $3,179,061.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO R. Alexandra Keith sold 855 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $158.50, for a total transaction of $135,517.50. Following the completion of the transaction, the chief executive officer now directly owns 4,004 shares of the company’s stock, valued at approximately $634,634. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar G. Raman sold 31,924 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $166.95, for a total transaction of $5,329,711.80. Following the completion of the sale, the chief executive officer now directly owns 19,042 shares in the company, valued at approximately $3,179,061.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 154,544 shares of company stock valued at $25,413,051. 0.17% of the stock is owned by company insiders.

Procter & Gamble 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.