Community Bank N.A. reduced its holdings in The Procter & Gamble Company (NYSE:PG – Get Rating) by 0.6% during the 1st quarter, Holdings Channel reports. The fund owned 60,422 shares of the company’s stock after selling 380 shares during the quarter. Procter & Gamble comprises 1.1% of Community Bank N.A.’s portfolio, making the stock its 20th largest holding. Community Bank N.A.’s holdings in Procter & Gamble were worth $9,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Western Pacific Wealth Management LP bought a new stake in shares of Procter & Gamble during the 4th quarter worth $40,000. IAG Wealth Partners LLC raised its holdings in shares of Procter & Gamble by 31.0% during the first quarter. IAG Wealth Partners LLC now owns 317 shares of the company’s stock worth $48,000 after acquiring an additional 75 shares in the last quarter. Delos Wealth Advisors LLC purchased a new stake in shares of Procter & Gamble during the fourth quarter worth $50,000. James Reed Financial Services Inc. bought a new position in Procter & Gamble during the fourth quarter valued at about $53,000. Finally, Concorde Financial Corp bought a new position in Procter & Gamble during the fourth quarter valued at about $55,000. 63.64% of the stock is owned by institutional investors.
Insider Transactions at Procter & Gamble
In other news, CEO Sundar G. Raman sold 1,599 shares of the business’s stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $145.12, for a total transaction of $232,046.88. Following the completion of the sale, the chief executive officer now directly owns 4,002 shares of the company’s stock, valued at $580,770.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.51% of the stock is currently owned by insiders.
Procter & Gamble Price Performance
Procter & Gamble (NYSE:PG – Get Rating) last announced its quarterly earnings data on Friday, July 29th. The company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.02). Procter & Gamble had a net margin of 18.39% and a return on equity of 32.52%. The company had revenue of $19.52 billion for the quarter, compared to analyst estimates of $19.41 billion. During the same quarter in the prior year, the company posted $1.13 EPS. Procter & Gamble’s revenue for the quarter was up 3.0% on a year-over-year basis. Sell-side analysts predict that The Procter & Gamble Company will post 5.94 earnings per share for the current year.
Procter & Gamble Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, July 22nd will be given a dividend of $0.913 per share. This represents a $3.65 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Thursday, July 21st. Procter & Gamble’s payout ratio is presently 62.82%.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on Procter & Gamble from $165.00 to $156.00 in a research report on Thursday, July 21st. Raymond James reaffirmed a “maintains” rating on shares of Procter & Gamble in a report on Monday, July 25th. Credit Suisse Group lifted their price objective on Procter & Gamble from $140.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, April 21st. Truist Financial cut their target price on shares of Procter & Gamble from $175.00 to $160.00 and set a “buy” rating for the company in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Procter & Gamble from $171.00 to $157.00 and set a “buy” rating for the company in a research note on Tuesday, June 21st. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Procter & Gamble currently has an average rating of “Moderate Buy” and a consensus price target of $162.53.
Procter & Gamble Profile
The Procter & Gamble Company provides branded consumer packaged goods to consumers in North and Latin America, Europe, the Asia Pacific, Greater China, India, the Middle East, and Africa. It operates in five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care.
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