Chemung Canal Trust Co. Sells 35,006 Shares of The Procter & Gamble Company (NYSE:PG)

Chemung Canal Trust Co. decreased its position in shares of The Procter & Gamble Company (NYSE:PG) by 36.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 62,049 shares of the company’s stock after selling 35,006 shares during the period. Procter & Gamble comprises 1.9% of Chemung Canal Trust Co.’s investment portfolio, making the stock its 12th largest position. Chemung Canal Trust Co.’s holdings in Procter & Gamble were worth $10,067,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Advantage Trust Co purchased a new position in shares of Procter & Gamble during the fourth quarter valued at approximately $28,000. Naples Money Management LLC bought a new stake in Procter & Gamble in the 4th quarter worth approximately $29,000. Wyrmwood Management LLC purchased a new stake in Procter & Gamble during the 4th quarter valued at $29,000. Transcendent Capital Group LLC purchased a new position in shares of Procter & Gamble in the 4th quarter worth $31,000. Finally, MeadowBrook Investment Advisors LLC bought a new stake in shares of Procter & Gamble in the fourth quarter worth $33,000. Institutional investors own 65.77% of the company’s stock.

Analyst Upgrades and Downgrades

PG has been the topic of a number of recent research reports. Argus increased their target price on Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, April 25th. StockNews.com upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating in a research note on Tuesday, June 25th. Barclays boosted their target price on shares of Procter & Gamble from $168.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, April 23rd. Truist Financial upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and increased their price target for the stock from $160.00 to $175.00 in a research report on Monday, March 11th. Finally, Deutsche Bank Aktiengesellschaft cut 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 report on Monday, April 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Procter & Gamble presently has a consensus rating of “Moderate Buy” and a consensus target price of $170.72.

Procter & Gamble Stock Down 1.0 %

NYSE PG opened at $164.92 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.48 and a debt-to-equity ratio of 0.49. The Procter & Gamble Company has a 12 month low of $141.45 and a 12 month high of $169.41. The stock’s 50 day moving average is $165.60 and its 200 day moving average is $158.81. The stock has a market cap of $389.23 billion, a PE ratio of 26.95, a P/E/G ratio of 3.35 and a beta of 0.42.

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

Procter & Gamble Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th were issued a $1.0065 dividend. This represents a $4.03 annualized dividend and a dividend yield of 2.44%. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Thursday, April 18th. Procter & Gamble’s payout ratio is 65.85%.

Insider Buying and Selling

In other Procter & Gamble news, CEO Sundar G. Raman sold 31,924 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $166.95, for a total transaction of $5,329,711.80. Following the completion of 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In other Procter & Gamble news, CEO Sundar G. Raman sold 31,924 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 19,042 shares in the company, valued at $3,179,061.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Moses Victor Javier Aguilar sold 9,149 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $167.72, for a total transaction of $1,534,470.28. Following the completion of the sale, the insider now owns 12,929 shares in the company, valued at $2,168,451.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 154,544 shares of company stock worth $25,413,051. Corporate insiders own 0.17% of the company’s stock.

About Procter & Gamble

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.