Baker Boyer National Bank Reduces Position in The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Apr 2nd, 2023

Baker Boyer National Bank cut its stake in shares of The Procter & Gamble Company (NYSE:PG – Get Rating) by 7.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,780 shares of the company’s stock after selling 476 shares during the quarter. Baker Boyer National Bank’s holdings in Procter & Gamble were worth $876,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Procter & Gamble by 1.0% during the third quarter. Vanguard Group Inc. now owns 224,570,227 shares of the company’s stock valued at $28,351,991,000 after buying an additional 2,197,165 shares during the last quarter. BlackRock Inc. boosted its holdings in Procter & Gamble by 1.1% in the third quarter. BlackRock Inc. now owns 161,904,833 shares of the company’s stock valued at $20,440,487,000 after purchasing an additional 1,811,085 shares during the last quarter. State Street Corp boosted its holdings in Procter & Gamble by 0.8% in the third quarter. State Street Corp now owns 104,749,256 shares of the company’s stock valued at $13,224,594,000 after purchasing an additional 797,652 shares during the last quarter. Legal & General Group Plc boosted its holdings in Procter & Gamble by 3.6% in the second quarter. Legal & General Group Plc now owns 18,536,142 shares of the company’s stock valued at $2,665,327,000 after purchasing an additional 637,095 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Procter & Gamble by 22.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 16,567,690 shares of the company’s stock valued at $2,382,268,000 after purchasing an additional 3,054,844 shares during the last quarter. 62.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Susan Street Whaley sold 709 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $137.34, for a total value of $97,374.06. Following the completion of the transaction, the insider now owns 10,198 shares of the company’s stock, valued at $1,400,593.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Jon R. Moeller sold 2,151 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $137.34, for a total transaction of $295,418.34. Following the completion of the transaction, the chief executive officer now owns 226,748 shares of the company’s stock, valued at $31,141,570.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Susan Street Whaley sold 709 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $137.34, for a total transaction of $97,374.06. Following the transaction, the insider now directly owns 10,198 shares of the company’s stock, valued at approximately $1,400,593.32. The disclosure for this sale can be found here. Insiders sold a total of 4,766 shares of company stock valued at $656,511 over the last 90 days. Insiders own 0.26% of the company’s stock.

Procter & Gamble Stock Up 0.8 %

Shares of NYSE PG opened at $148.69 on Friday. The Procter & Gamble Company has a 12-month low of $122.18 and a 12-month high of $164.90. The company has a market capitalization of $350.78 billion, a PE ratio of 26.09, a price-to-earnings-growth ratio of 4.12 and a beta of 0.40. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.56 and a quick ratio of 0.37. The firm’s 50-day moving average is $141.15 and its two-hundred day moving average is $141.17.

Procter & Gamble (NYSE:PG – Get Rating) last announced its quarterly earnings results on Thursday, January 19th. The company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.01. Procter & Gamble had a net margin of 17.79% and a return on equity of 32.03%. The company had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $20.75 billion. During the same quarter in the prior year, the firm earned $1.66 earnings per share. The company’s revenue for the quarter was down .9% compared to the same quarter last year. Equities analysts anticipate that The Procter & Gamble Company will post 5.84 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 15th. Stockholders of record on Friday, January 20th were given a $0.9133 dividend. This represents a $3.65 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Thursday, January 19th. Procter & Gamble’s dividend payout ratio is presently 64.04%.

Wall Street Analyst Weigh In

Several research firms have commented on PG. JPMorgan Chase & Co. raised shares of Procter & Gamble from a “neutral” rating to an “overweight” rating and upped their price target for the company from $150.00 to $155.00 in a report on Friday, March 3rd. Wells Fargo & Company lowered their price target on shares of Procter & Gamble from $168.00 to $162.00 and set an “overweight” rating on the stock in a report on Friday, January 20th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Procter & Gamble from $162.00 to $156.00 in a report on Monday, March 20th. StockNews.com initiated coverage on shares of Procter & Gamble in a research note on Thursday, March 16th. They set a “hold” rating on the stock. Finally, Stifel Nicolaus increased their target price on shares of Procter & Gamble from $139.00 to $147.00 and gave the stock a “hold” rating in a research note on Friday, January 20th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $155.27.

Procter & Gamble Profile

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Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.