Moody National Bank Trust Division Trims Holdings in The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Jul 4th, 2023

Moody National Bank Trust Division lowered its position in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 0.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,475 shares of the company’s stock after selling 382 shares during the period. Procter & Gamble comprises approximately 0.6% of Moody National Bank Trust Division’s holdings, making the stock its 20th largest holding. Moody National Bank Trust Division’s holdings in Procter & Gamble were worth $6,910,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Patriot Investment Management Group Inc. grew its stake in Procter & Gamble by 91.2% in the first quarter. Patriot Investment Management Group Inc. now owns 17,236 shares of the company’s stock valued at $2,563,000 after purchasing an additional 8,223 shares during the last quarter. Proficio Capital Partners LLC grew its stake in Procter & Gamble by 15,160.5% in the first quarter. Proficio Capital Partners LLC now owns 1,262,345 shares of the company’s stock valued at $1,265,000 after purchasing an additional 1,254,073 shares during the last quarter. Comprehensive Financial Consultants Institutional Inc. grew its stake in Procter & Gamble by 3.7% in the first quarter. Comprehensive Financial Consultants Institutional Inc. now owns 8,625 shares of the company’s stock valued at $1,282,000 after purchasing an additional 310 shares during the last quarter. Altus Wealth Management LLC grew its stake in Procter & Gamble by 8.5% in the first quarter. Altus Wealth Management LLC now owns 30,345 shares of the company’s stock valued at $4,512,000 after purchasing an additional 2,370 shares during the last quarter. Finally, Heron Financial Group LLC grew its stake in Procter & Gamble by 7.1% in the first quarter. Heron Financial Group LLC now owns 7,691 shares of the company’s stock valued at $1,144,000 after purchasing an additional 512 shares during the last quarter. Hedge funds and other institutional investors own 64.65% of the company’s stock.

Procter & Gamble Stock Performance

NYSE PG opened at $152.46 on Tuesday. The stock’s fifty day moving average is $150.34 and its two-hundred day moving average is $147.33. The firm has a market capitalization of $359.34 billion, a P/E ratio of 26.56, a price-to-earnings-growth ratio of 4.22 and a beta of 0.42. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.39 and a current ratio of 0.59. The Procter & Gamble Company has a fifty-two week low of $122.18 and a fifty-two week high of $158.11.

Procter & Gamble (NYSE:PG – Free Report) last announced its quarterly earnings results on Friday, April 21st. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.32 by $0.05. Procter & Gamble had a return on equity of 32.18% and a net margin of 17.69%. The business had revenue of $20.07 billion for the quarter, compared to analyst estimates of $19.32 billion. During the same quarter in the prior year, the company posted $1.33 EPS. The company’s quarterly revenue was up 3.5% on a year-over-year basis. On average, research analysts anticipate that The Procter & Gamble Company will post 5.86 earnings per share for the current year.

Procter & Gamble Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Friday, April 21st were paid a $0.9407 dividend. This represents a $3.76 annualized dividend and a dividend yield of 2.47%. The ex-dividend date was Thursday, April 20th. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.91. Procter & Gamble’s dividend payout ratio is 65.51%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PG. Evercore ISI raised their price target on Procter & Gamble from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Monday, April 24th. Deutsche Bank Aktiengesellschaft lifted their target price on Procter & Gamble from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, April 24th. Barclays lifted their target price on Procter & Gamble from $160.00 to $167.00 in a report on Wednesday, April 26th. Raymond James lifted their price target on Procter & Gamble from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Sunday, April 23rd. Finally, Jefferies Financial Group lifted their price target on Procter & Gamble from $171.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, April 24th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Procter & Gamble presently has an average rating of “Moderate Buy” and a consensus target price of $161.50.

Insider Activity

In related news, CFO Andre Schulten sold 25,244 shares of the stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $155.27, for a total transaction of $3,919,635.88. Following the transaction, the chief financial officer now owns 27,118 shares of the company’s stock, valued at approximately $4,210,611.86. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Ma. Fatima Francisco sold 8,000 shares of the firm’s stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $156.84, for a total transaction of $1,254,720.00. Following the completion of the transaction, the chief executive officer now directly owns 9,343 shares in the company, valued at approximately $1,465,356.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andre Schulten sold 25,244 shares of the firm’s stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $155.27, for a total value of $3,919,635.88. Following the transaction, the chief financial officer now owns 27,118 shares of the company’s stock, valued at $4,210,611.86. The disclosure for this sale can be found here. Insiders have sold a total of 95,093 shares of company stock valued at $14,821,930 in the last quarter. Insiders own 0.26% of the company’s stock.

Procter & Gamble Profile

(Free Report)

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.