Peoples Bank OH Cuts Stake in The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Jul 10th, 2023

Peoples Bank OH trimmed its position in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 2.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,011 shares of the company’s stock after selling 453 shares during the period. Procter & Gamble accounts for approximately 2.0% of Peoples Bank OH’s portfolio, making the stock its 15th largest holding. Peoples Bank OH’s holdings in Procter & Gamble were worth $3,124,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of PG. Capital Investment Advisory Services LLC lifted its stake in Procter & Gamble by 4.9% in the 4th quarter. Capital Investment Advisory Services LLC now owns 36,681 shares of the company’s stock worth $5,559,000 after purchasing an additional 1,711 shares in the last quarter. Deuterium Capital Management LLC bought a new position in shares of Procter & Gamble during the 4th quarter valued at about $675,000. Sweet Financial Partners LLC raised its stake in shares of Procter & Gamble by 25.3% during the first quarter. Sweet Financial Partners LLC now owns 10,422 shares of the company’s stock worth $1,550,000 after acquiring an additional 2,106 shares in the last quarter. CX Institutional boosted its position in Procter & Gamble by 4.1% during the fourth quarter. CX Institutional now owns 33,743 shares of the company’s stock valued at $5,114,000 after buying an additional 1,320 shares during the period. Finally, Oak Harbor Wealth Partners LLC grew its position in Procter & Gamble by 11.1% during the 4th quarter. Oak Harbor Wealth Partners LLC now owns 30,891 shares of the company’s stock worth $4,682,000 after acquiring an additional 3,089 shares during the last quarter. 64.65% of the stock is owned by hedge funds and other institutional investors.

Procter & Gamble Stock Down 2.1 %

PG opened at $148.80 on Monday. The company has a fifty day moving average of $149.97 and a two-hundred day moving average of $147.34. 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. The stock has a market capitalization of $350.72 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 3.83 and a beta of 0.42.

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

Procter & Gamble Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Friday, April 21st were issued a dividend of $0.9407 per share. This represents a $3.76 annualized dividend and a yield of 2.53%. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.91. The ex-dividend date was Thursday, April 20th. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.51%.

Analyst Ratings Changes

Several brokerages recently commented on PG. Jefferies Financial Group lifted their target price on shares of Procter & Gamble from $171.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, April 24th. UBS Group upped their price objective on shares of Procter & Gamble from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Monday, April 24th. StockNews.com began coverage on Procter & Gamble in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft upped their price target on Procter & Gamble from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, April 24th. Finally, Evercore ISI boosted their target price on Procter & Gamble from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Monday, April 24th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Procter & Gamble has a consensus rating of “Moderate Buy” and an average target price of $161.50.

Insider Transactions at Procter & Gamble

In related news, COO Shailesh Jejurikar sold 31,000 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $156.03, for a total value of $4,836,930.00. Following the transaction, the chief operating officer now directly owns 10,014 shares of the company’s stock, valued at approximately $1,562,484.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Susan Street Whaley sold 4,852 shares of the stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $155.47, for a total transaction of $754,340.44. Following the completion of the transaction, the insider now directly owns 7,977 shares in the company, valued at approximately $1,240,184.19. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Shailesh Jejurikar sold 31,000 shares of the stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $156.03, for a total value of $4,836,930.00. Following the transaction, the chief operating officer now directly owns 10,014 shares in the company, valued at approximately $1,562,484.42. The disclosure for this sale can be found here. Insiders sold 95,093 shares of company stock valued at $14,821,930 over the last 90 days. Corporate 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.