The Procter & Gamble Company (NYSE:PG) Shares Sold by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. decreased its position in shares of The Procter & Gamble Company (NYSE:PG) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,020 shares of the company’s stock after selling 3,881 shares during the period. Procter & Gamble comprises 1.2% of Penobscot Investment Management Company Inc.’s investment portfolio, making the stock its 21st biggest position. Penobscot Investment Management Company Inc.’s holdings in Procter & Gamble were worth $12,745,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of Procter & Gamble in the fourth quarter valued at approximately $1,010,685,000. Geode Capital Management LLC grew its stake in shares of Procter & Gamble by 7.0% in the third quarter. Geode Capital Management LLC now owns 55,204,776 shares of the company’s stock worth $9,538,327,000 after acquiring an additional 3,619,466 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Procter & Gamble by 1,195.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company’s stock worth $580,596,000 after acquiring an additional 2,973,757 shares during the period. Franklin Resources Inc. increased its position in shares of Procter & Gamble by 10.2% during the third quarter. Franklin Resources Inc. now owns 18,988,721 shares of the company’s stock worth $3,290,573,000 after acquiring an additional 1,760,214 shares during the period. Finally, Proficio Capital Partners LLC raised its stake in shares of Procter & Gamble by 25,115.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,736,857 shares of the company’s stock valued at $291,184,000 after acquiring an additional 1,729,969 shares in the last quarter. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Procter & Gamble Price Performance

Procter & Gamble stock opened at $162.90 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50. The firm’s 50-day simple moving average is $168.17 and its 200 day simple moving average is $169.49. The Procter & Gamble Company has a 52 week low of $153.52 and a 52 week high of $180.43. The firm has a market capitalization of $381.98 billion, a PE ratio of 25.94, a P/E/G ratio of 3.76 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Wednesday, January 22nd. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.86 by $0.02. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The business had revenue of $21.88 billion for the quarter, compared to analyst estimates of $21.66 billion. During the same period in the prior year, the business earned $1.84 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities research analysts predict that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 24th were paid a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend was Friday, January 24th. Procter & Gamble’s payout ratio is currently 64.01%.

Insider Activity at Procter & Gamble

In other news, CEO Gary A. Coombe sold 35,000 shares of Procter & Gamble stock in a transaction on Friday, February 28th. The stock was sold at an average price of $173.68, for a total value of $6,078,800.00. Following the completion of the sale, the chief executive officer now owns 22,051 shares of the company’s stock, valued at $3,829,817.68. The trade was a 61.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marc S. Pritchard sold 90,450 shares of the stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total value of $14,819,328.00. Following the transaction, the insider now owns 172,814 shares in the company, valued at $28,313,845.76. This trade represents a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 143,450 shares of company stock valued at $23,988,008 over the last quarter. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PG shares. Erste Group Bank upgraded Procter & Gamble from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Piper Sandler decreased their price target on shares of Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a research note on Monday, February 24th. Royal Bank of Canada reissued a “sector perform” rating and issued a $164.00 price objective on shares of Procter & Gamble in a research report on Thursday, January 23rd. Barclays lifted their price objective on shares of Procter & Gamble from $155.00 to $159.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. Finally, Stifel Nicolaus boosted their target price on shares of Procter & Gamble from $161.00 to $165.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $181.47.

About Procter & Gamble

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and 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.