Orrstown Financial Services Inc. Sells 616 Shares of The Procter & Gamble Company (NYSE:PG)

Orrstown Financial Services Inc. reduced its position in shares of The Procter & Gamble Company (NYSE:PG) by 5.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,432 shares of the company’s stock after selling 616 shares during the period. Procter & Gamble accounts for about 0.4% of Orrstown Financial Services Inc.’s holdings, making the stock its 29th biggest position. Orrstown Financial Services Inc.’s holdings in Procter & Gamble were worth $1,778,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in PG. Norges Bank bought a new stake in Procter & Gamble in the fourth quarter worth about $5,244,463,000. GAMMA Investing LLC raised its position in Procter & Gamble by 20,758.5% in the first quarter. GAMMA Investing LLC now owns 7,951,456 shares of the company’s stock worth $1,355,087,000 after acquiring an additional 7,913,335 shares during the period. Raymond James Financial Inc. bought a new stake in Procter & Gamble in the fourth quarter worth about $1,010,685,000. Bank Julius Baer & Co. Ltd Zurich raised its position in Procter & Gamble by 1,195.1% in 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. Finally, Capital Research Global Investors raised its position in Procter & Gamble by 62.5% in the fourth quarter. Capital Research Global Investors now owns 7,398,120 shares of the company’s stock worth $1,240,294,000 after acquiring an additional 2,846,560 shares during the period. 65.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Evercore ISI reaffirmed an “outperform” rating and issued a $190.00 price objective (up previously from $170.00) on shares of Procter & Gamble in a research report on Tuesday, June 3rd. Piper Sandler lifted their price objective on shares of Procter & Gamble from $160.00 to $164.00 and gave the stock a “neutral” rating in a research report on Monday, May 5th. Redburn Atlantic lowered shares of Procter & Gamble from a “buy” rating to a “neutral” rating and set a $161.00 price objective on the stock. in a research report on Thursday, May 1st. Royal Bank of Canada raised shares of Procter & Gamble from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $164.00 to $177.00 in a research report on Friday, April 25th. Finally, Barclays reiterated an “equal weight” rating on shares of Procter & Gamble in a research note on Thursday, March 27th. Eight equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $178.86.

Procter & Gamble Price Performance

PG stock opened at $164.01 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55. The Procter & Gamble Company has a one year low of $156.58 and a one year high of $180.43. The stock has a market cap of $384.53 billion, a PE ratio of 26.12, a P/E/G ratio of 3.76 and a beta of 0.43. The firm has a 50 day simple moving average of $164.01 and a two-hundred day simple moving average of $167.25.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.01. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The business had revenue of $19.78 billion during the quarter, compared to analysts’ expectations of $20.42 billion. During the same quarter in the previous year, the company earned $1.52 EPS. The business’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, analysts predict that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were paid a $1.0568 dividend. This represents a $4.23 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend was Monday, April 21st. This is a boost from Procter & Gamble’s previous quarterly dividend of $1.01. Procter & Gamble’s payout ratio is currently 66.98%.

Insiders Place Their Bets

In other news, CEO Jennifer L. Davis sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total value of $161,380.00. Following the completion of the sale, the chief executive officer now directly owns 51,965 shares in the company, valued at approximately $8,386,111.70. The trade was a 1.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $158.67, for a total transaction of $1,669,208.40. Following the completion of the sale, the insider now owns 25,182 shares of the company’s stock, valued at approximately $3,995,627.94. The trade was a 29.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Procter & Gamble Company 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.