Mechanics Bank Trust Department Sells 103 Shares of The Procter & Gamble Company (NYSE:PG)

Mechanics Bank Trust Department cut its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 0.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 55,199 shares of the company’s stock after selling 103 shares during the quarter. Procter & Gamble comprises about 1.2% of Mechanics Bank Trust Department’s holdings, making the stock its 22nd largest position. Mechanics Bank Trust Department’s holdings in Procter & Gamble were worth $9,254,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Fiera Capital Corp grew its stake in Procter & Gamble by 1,135.1% during the second quarter. Fiera Capital Corp now owns 20,688 shares of the company’s stock worth $3,412,000 after purchasing an additional 19,013 shares during the period. Westwood Holdings Group Inc. lifted its holdings in shares of Procter & Gamble by 9.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 7,863 shares of the company’s stock worth $1,297,000 after purchasing an additional 705 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Procter & Gamble during the second quarter valued at about $28,000. EverSource Wealth Advisors LLC increased its holdings in Procter & Gamble by 36.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 14,632 shares of the company’s stock worth $2,352,000 after purchasing an additional 3,932 shares in the last quarter. Finally, Harmony Asset Management LLC raised its position in Procter & Gamble by 23.9% in the 2nd quarter. Harmony Asset Management LLC now owns 2,402 shares of the company’s stock valued at $396,000 after buying an additional 464 shares during the last quarter. 65.77% of the stock is owned by institutional investors.

Insider Transactions at Procter & Gamble

In other news, insider Balaji Purushothaman sold 12,800 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $172.73, for a total value of $2,210,944.00. Following the completion of the sale, the insider now directly owns 11,595 shares of the company’s stock, valued at approximately $2,002,804.35. This trade represents a 52.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Gary A. Coombe sold 47,847 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $179.84, for a total transaction of $8,604,804.48. Following the transaction, the chief executive officer now owns 39,977 shares in the company, valued at $7,189,463.68. This represents a 54.48 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,447 shares of company stock worth $12,978,820. Company insiders own 0.18% of the company’s stock.

Procter & Gamble Price Performance

Shares of Procter & Gamble stock opened at $161.35 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.75 and a quick ratio of 0.55. The Procter & Gamble Company has a one year low of $146.28 and a one year high of $180.43. The business’s 50 day simple moving average is $169.19 and its two-hundred day simple moving average is $169.46. The stock has a market capitalization of $379.98 billion, a P/E ratio of 27.82, a price-to-earnings-growth ratio of 3.41 and a beta of 0.45.

Procter & Gamble (NYSE:PG) last issued its earnings results on Friday, October 18th. The company reported $1.93 EPS for the quarter, topping the consensus estimate of $1.90 by $0.03. The company had revenue of $21.74 billion for the quarter, compared to the consensus estimate of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.83 earnings per share. Analysts forecast that The Procter & Gamble Company will post 6.93 EPS for the current year.

Procter & Gamble Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th will be paid a dividend of $1.0065 per share. This represents a $4.03 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Friday, January 24th. Procter & Gamble’s dividend payout ratio (DPR) is 69.48%.

Analysts Set New Price Targets

Several research analysts have weighed in on PG shares. Stifel Nicolaus cut their price objective on Procter & Gamble from $167.00 to $161.00 and set a “hold” rating on the stock in a research report on Friday. Piper Sandler started coverage on shares of Procter & Gamble in a report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price objective for the company. UBS Group reduced their target price on Procter & Gamble from $196.00 to $189.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Barclays decreased their price target on shares of Procter & Gamble from $163.00 to $155.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, JPMorgan Chase & Co. dropped their price target on Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $179.65.

Procter & Gamble Profile

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.