American National Bank Has $10.16 Million Position in The Procter & Gamble Company (NYSE:PG)

Posted by Defense World Staff on Jul 14th, 2023

American National Bank increased its stake in shares of The Procter & Gamble Company (NYSE:PG – Free Report) by 1.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 68,340 shares of the company’s stock after purchasing an additional 775 shares during the quarter. Procter & Gamble makes up approximately 1.9% of American National Bank’s portfolio, making the stock its 14th largest position. American National Bank’s holdings in Procter & Gamble were worth $10,161,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Moneta Group Investment Advisors LLC lifted 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 acquiring an additional 38,495,676 shares during the last quarter. Norges Bank acquired a new stake in Procter & Gamble in the fourth quarter valued at approximately $3,752,321,000. Morgan Stanley lifted its stake in Procter & Gamble by 12.6% in the fourth quarter. Morgan Stanley now owns 44,320,700 shares of the company’s stock valued at $6,717,246,000 after acquiring an additional 4,959,527 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Procter & Gamble by 43.9% in the fourth quarter. Alliancebernstein L.P. now owns 9,462,510 shares of the company’s stock valued at $1,434,138,000 after acquiring an additional 2,888,007 shares during the last quarter. Finally, CI Private Wealth LLC acquired a new stake in Procter & Gamble in the fourth quarter valued at approximately $292,647,000. 64.65% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Susan Street Whaley sold 4,852 shares of the company’s stock in a transaction dated Wednesday, April 26th. The stock was sold at an average price of $155.47, for a total value of $754,340.44. Following the completion of the sale, the insider now directly owns 7,977 shares of the company’s stock, valued at approximately $1,240,184.19. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Susan Street Whaley sold 4,852 shares of the company’s stock in a transaction dated Wednesday, April 26th. The stock was sold at an average price of $155.47, for a total value of $754,340.44. Following the completion of the sale, the insider now directly owns 7,977 shares of the company’s stock, valued at approximately $1,240,184.19. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Matthew W. Janzaruk sold 13,697 shares of the company’s stock in a transaction dated Wednesday, April 26th. The shares were sold at an average price of $155.76, for a total value of $2,133,444.72. Following the completion of the sale, the chief accounting officer now directly owns 883 shares of the company’s stock, valued at $137,536.08. The disclosure for this sale can be found here. In the last three months, insiders sold 95,093 shares of company stock valued at $14,821,930. 0.26% of the stock is currently owned by insiders.

Procter & Gamble Stock Up 0.1 %

Shares of NYSE PG opened at $148.95 on Friday. The firm’s 50-day simple moving average is $149.37 and its 200 day simple moving average is $147.31. The company has a market cap of $351.07 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 company has a quick ratio of 0.39, a current ratio of 0.59 and a debt-to-equity ratio of 0.51. 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 announced its quarterly earnings data on Friday, April 21st. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.05. The firm 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%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.33 EPS. On average, research analysts expect that The Procter & Gamble Company will post 5.86 earnings per share for the current fiscal year.

Procter & Gamble Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 21st will be issued a dividend of $0.9407 per share. The ex-dividend date of this dividend is Thursday, July 20th. This represents a $3.76 annualized dividend and a yield of 2.53%. Procter & Gamble’s dividend payout ratio is currently 65.51%.

Analysts Set New Price Targets

A number of research firms have issued reports on PG. Evercore ISI lifted their target price on shares of Procter & Gamble from $160.00 to $170.00 and gave the company an “outperform” rating in a research note on Monday, April 24th. Raymond James lifted their price target on shares of Procter & Gamble from $170.00 to $175.00 and gave the company an “outperform” rating in a research report on Sunday, April 23rd. StockNews.com initiated coverage on shares of Procter & Gamble in a research report on Thursday, May 18th. They issued a “buy” rating on the stock. Barclays lifted their price target on shares of Procter & Gamble from $160.00 to $167.00 in a research report on Wednesday, April 26th. Finally, Truist Financial lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating and dropped their price target for the company from $165.00 to $155.00 in a research report on Thursday, May 18th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.50.

Procter & Gamble Company 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.