The Procter & Gamble Company (NYSE:PG) Stock Holdings Reduced by Essex Savings Bank

Posted by on Jul 11th, 2023

Essex Savings Bank lowered its position in The Procter & Gamble Company (NYSE:PG – Free Report) by 0.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,884 shares of the company’s stock after selling 146 shares during the quarter. Procter & Gamble makes up approximately 1.4% of Essex Savings Bank’s holdings, making the stock its 12th biggest position. Essex Savings Bank’s holdings in Procter & Gamble were worth $4,146,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PG. Moneta Group Investment Advisors LLC grew its stake in Procter & Gamble by 96,526.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 38,535,557 shares of the company’s stock valued at $5,840,449,000 after purchasing an additional 38,495,676 shares in the last quarter. Norges Bank bought a new stake in shares of Procter & Gamble during the 4th quarter worth about $3,752,321,000. Morgan Stanley boosted its stake in shares of Procter & Gamble by 12.6% during the 4th quarter. Morgan Stanley now owns 44,320,700 shares of the company’s stock worth $6,717,246,000 after acquiring an additional 4,959,527 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Procter & Gamble by 43.9% during the 4th quarter. Alliancebernstein L.P. now owns 9,462,510 shares of the company’s stock worth $1,434,138,000 after acquiring an additional 2,888,007 shares in the last quarter. Finally, CI Private Wealth LLC bought a new stake in shares of Procter & Gamble during the 4th quarter worth about $292,647,000. Hedge funds and other institutional investors own 64.65% of the company’s stock.

Analyst Upgrades and Downgrades

PG has been the subject of several recent analyst reports. Evercore ISI upped their price target on Procter & Gamble from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Monday, April 24th. StockNews.com assumed coverage on Procter & Gamble in a research note on Thursday, May 18th. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Procter & Gamble from $160.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, April 24th. Truist Financial cut Procter & Gamble from a “buy” rating to a “hold” rating and cut their price objective for the stock from $165.00 to $155.00 in a research report on Thursday, May 18th. Finally, Morgan Stanley boosted their price objective on Procter & Gamble from $160.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, April 24th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $161.50.

Insider Transactions at Procter & Gamble

In other news, CFO Andre Schulten sold 25,244 shares of the stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $155.27, for a total value of $3,919,635.88. Following the completion of the transaction, the chief financial officer now directly owns 27,118 shares of the company’s stock, valued at approximately $4,210,611.86. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Susan Street Whaley sold 4,852 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 7,977 shares in the company, valued at approximately $1,240,184.19. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Andre Schulten sold 25,244 shares of the stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $155.27, for a total value of $3,919,635.88. Following the sale, the chief financial officer now owns 27,118 shares in the company, valued at $4,210,611.86. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,093 shares of company stock valued at $14,821,930. Corporate insiders own 0.26% of the company’s stock.

Procter & Gamble Trading Up 0.1 %

Procter & Gamble stock opened at $148.93 on Tuesday. The business has a 50 day moving average price of $149.82 and a two-hundred day moving average price of $147.32. The company has a quick ratio of 0.39, a current ratio of 0.59 and a debt-to-equity ratio of 0.51. The stock has a market cap of $351.02 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 3.83 and a beta of 0.42. The Procter & Gamble Company has a 12 month low of $122.18 and a 12 month high of $158.11.

Procter & Gamble (NYSE:PG – Get Free Report) last issued its earnings results on Friday, April 21st. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $19.32 billion. During the same period in the prior year, the firm posted $1.33 EPS. Procter & Gamble’s quarterly revenue was up 3.5% compared to the same quarter last year. As a group, equities analysts forecast that The Procter & Gamble Company will post 5.86 EPS for the current year.

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.

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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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