The Procter & Gamble Company (NYSE:PG) Shares Bought by Grove Bank & Trust

Grove Bank & Trust lifted its position in shares of The Procter & Gamble Company (NYSE:PG) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,812 shares of the company’s stock after purchasing an additional 221 shares during the period. Grove Bank & Trust’s holdings in Procter & Gamble were worth $2,565,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. HighPoint Advisor Group LLC acquired a new stake in shares of Procter & Gamble during the fourth quarter valued at about $17,696,000. Steele Capital Management Inc. acquired a new position in shares of Procter & Gamble in the 1st quarter valued at approximately $204,000. GAMMA Investing LLC boosted its stake in shares of Procter & Gamble by 67.2% during the 2nd quarter. GAMMA Investing LLC now owns 26,803 shares of the company’s stock valued at $4,420,000 after buying an additional 10,777 shares during the last quarter. Consilio Wealth Advisors LLC increased its stake in shares of Procter & Gamble by 27.7% in the first quarter. Consilio Wealth Advisors LLC now owns 1,746 shares of the company’s stock worth $283,000 after buying an additional 379 shares during the last quarter. Finally, AMF Tjanstepension AB raised its holdings in Procter & Gamble by 416.1% in the third quarter. AMF Tjanstepension AB now owns 1,818,490 shares of the company’s stock valued at $315,016,000 after acquiring an additional 1,466,115 shares in the last quarter. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PG. Hsbc Global Res upgraded shares of Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. Barclays downgraded Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 target price on the stock. in a report on Monday, September 30th. Jefferies Financial Group lowered Procter & Gamble from a “buy” rating to a “hold” rating and dropped their price target for the company from $182.00 to $175.00 in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Procter & Gamble from $171.00 to $176.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Finally, Piper Sandler assumed coverage on shares of Procter & Gamble in a research report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price target on the stock. Nine research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Procter & Gamble currently has an average rating of “Moderate Buy” and a consensus target price of $176.21.

Procter & Gamble Price Performance

Shares of NYSE PG traded up $0.66 during midday trading on Monday, reaching $171.75. The company’s stock had a trading volume of 1,867,156 shares, compared to its average volume of 6,662,652. The company has a market cap of $405.35 billion, a price-to-earnings ratio of 28.04, a price-to-earnings-growth ratio of 3.67 and a beta of 0.41. The Procter & Gamble Company has a one year low of $142.50 and a one year high of $177.94. The company has a current ratio of 0.73, a quick ratio of 0.53 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average price of $171.48 and a 200 day moving average price of $166.81.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Tuesday, July 30th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.03. Procter & Gamble had a return on equity of 33.46% and a net margin of 17.71%. The business had revenue of $20.53 billion during the quarter, compared to analyst estimates of $20.69 billion. During the same period last year, the company posted $1.37 EPS. The company’s revenue was down .1% compared to the same quarter last year. On average, equities research analysts expect that The Procter & Gamble Company will post 6.97 EPS for the current year.

Procter & Gamble Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 18th will be issued a $1.0065 dividend. This represents a $4.03 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Friday, October 18th. Procter & Gamble’s payout ratio is 65.69%.

Insider Activity at Procter & Gamble

In other news, CFO Andre Schulten sold 13,041 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $170.00, for a total value of $2,216,970.00. Following the completion of the sale, the chief financial officer now owns 37,208 shares in the company, valued at $6,325,360. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Andre Schulten sold 13,041 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $170.00, for a total transaction of $2,216,970.00. Following the transaction, the chief financial officer now directly owns 37,208 shares in the company, valued at $6,325,360. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Balaji Purushothaman sold 8,842 shares of Procter & Gamble stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $164.90, for a total value of $1,458,045.80. Following the sale, the insider now directly owns 11,537 shares of the company’s stock, valued at approximately $1,902,451.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 383,194 shares of company stock worth $65,140,718. 0.17% of the stock is owned by corporate insiders.

About Procter & Gamble

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company 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, SK-II, and Native brands.