The Procter & Gamble Company (NYSE:PG) Shares Sold by Chemung Canal Trust Co.

Chemung Canal Trust Co. trimmed its position in The Procter & Gamble Company (NYSE:PG) by 6.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 57,507 shares of the company’s stock after selling 3,650 shares during the quarter. Procter & Gamble comprises about 2.0% of Chemung Canal Trust Co.’s portfolio, making the stock its 16th biggest holding. Chemung Canal Trust Co.’s holdings in Procter & Gamble were worth $9,960,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PG. Wulff Hansen & CO. boosted its holdings in Procter & Gamble by 16,292.0% in the 2nd quarter. Wulff Hansen & CO. now owns 3,675,902 shares of the company’s stock worth $606,230,000 after buying an additional 3,653,477 shares during the last quarter. TD Asset Management Inc boosted its holdings in Procter & Gamble by 114.9% in the 1st quarter. TD Asset Management Inc now owns 3,568,671 shares of the company’s stock worth $579,017,000 after buying an additional 1,907,716 shares during the last quarter. AMF Tjanstepension AB boosted its holdings in shares of Procter & Gamble by 416.1% during the 3rd quarter. AMF Tjanstepension AB now owns 1,818,490 shares of the company’s stock worth $315,016,000 after purchasing an additional 1,466,115 shares during the last quarter. Swedbank AB acquired a new position in shares of Procter & Gamble during the 1st quarter worth approximately $233,788,000. Finally, Ilex Capital Partners UK LLP acquired a new position in shares of Procter & Gamble during the 1st quarter worth approximately $228,212,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Procter & Gamble Stock Down 0.3 %

Shares of Procter & Gamble stock traded down $0.56 during trading hours on Friday, reaching $169.56. 1,257,959 shares of the company were exchanged, compared to its average volume of 6,645,644. The Procter & Gamble Company has a 1 year low of $141.45 and a 1 year high of $177.94. The stock’s fifty day moving average is $171.15 and its 200 day moving average is $166.43. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.53 and a current ratio of 0.73. The firm has a market cap of $400.19 billion, a PE ratio of 27.71, a PEG ratio of 3.76 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.03. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The business had revenue of $20.53 billion for the quarter, compared to analyst estimates of $20.69 billion. During the same quarter in the prior year, the company earned $1.37 earnings per share. The company’s revenue was down .1% on a year-over-year basis. As a group, equities research analysts forecast that The Procter & Gamble Company will post 6.97 earnings per share for the current year.

Procter & Gamble Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were given a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend was Friday, July 19th. Procter & Gamble’s dividend payout ratio is currently 65.85%.

Insider Buying and Selling

In related news, insider Balaji Purushothaman sold 8,842 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the completion of the transaction, the insider now owns 11,537 shares in the company, valued at approximately $1,902,451.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Procter & Gamble news, CEO Jon R. Moeller sold 7,007 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $171.65, for a total value of $1,202,751.55. Following the completion of the transaction, the chief executive officer now owns 269,172 shares in the company, valued at $46,203,373.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Balaji Purushothaman sold 8,842 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the completion of the transaction, the insider now owns 11,537 shares of the company’s stock, valued at $1,902,451.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 383,194 shares of company stock worth $65,140,718. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

PG has been the topic of several recent research reports. Piper Sandler initiated coverage on Procter & Gamble in a report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on Procter & Gamble from $179.00 to $186.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. DZ Bank upgraded Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 target price on the stock in a report on Thursday, August 29th. Dbs Bank cut Procter & Gamble from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Procter & Gamble from $171.00 to $176.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Nine investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $175.89.

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.