Orrstown Financial Services Inc. Grows Stock Position in The Procter & Gamble Company (NYSE:PG)

Orrstown Financial Services Inc. raised its holdings in The Procter & Gamble Company (NYSE:PG) by 26.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,205 shares of the company’s stock after buying an additional 675 shares during the quarter. Orrstown Financial Services Inc.’s holdings in Procter & Gamble were worth $520,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PG. Norges Bank acquired a new position in shares of Procter & Gamble in the fourth quarter valued at about $3,956,117,000. Cerity Partners LLC increased its holdings in shares of Procter & Gamble by 106.2% in the fourth quarter. Cerity Partners LLC now owns 6,134,455 shares of the company’s stock valued at $898,943,000 after purchasing an additional 3,159,796 shares during the period. Wellington Management Group LLP grew its holdings in Procter & Gamble by 9.4% during the third quarter. Wellington Management Group LLP now owns 35,608,913 shares of the company’s stock worth $5,193,916,000 after acquiring an additional 3,047,557 shares during the period. International Assets Investment Management LLC grew its holdings in Procter & Gamble by 13,850.3% during the fourth quarter. International Assets Investment Management LLC now owns 2,747,379 shares of the company’s stock worth $402,601,000 after acquiring an additional 2,727,685 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in Procter & Gamble by 235.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,231,032 shares of the company’s stock worth $473,475,000 after acquiring an additional 2,268,805 shares during the period. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Procter & Gamble news, insider Balaji Purushothaman sold 28,369 shares of Procter & Gamble stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $161.49, for a total transaction of $4,581,309.81. Following the completion of the sale, the insider now directly owns 11,507 shares of the company’s stock, valued at approximately $1,858,265.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Procter & Gamble news, insider Balaji Purushothaman sold 28,369 shares of Procter & Gamble stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $161.49, for a total transaction of $4,581,309.81. Following the completion of the sale, the insider now directly owns 11,507 shares of the company’s stock, valued at approximately $1,858,265.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar G. Raman sold 31,924 shares of Procter & Gamble stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $166.95, for a total value of $5,329,711.80. Following the sale, the chief executive officer now directly owns 19,042 shares of the company’s stock, valued at $3,179,061.90. The disclosure for this sale can be found here. Insiders sold 154,544 shares of company stock valued at $25,413,051 in the last ninety days. Insiders own 0.17% of the company’s stock.

Procter & Gamble Trading Up 0.6 %

PG opened at $168.56 on Thursday. The Procter & Gamble Company has a 12 month low of $141.45 and a 12 month high of $168.97. The stock has a market capitalization of $397.83 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 3.42 and a beta of 0.42. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.69 and a quick ratio of 0.48. The business has a fifty day moving average price of $164.09 and a 200 day moving average price of $157.83.

Procter & Gamble (NYSE:PG) last released its earnings results on Friday, April 19th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.42 by $0.10. Procter & Gamble had a return on equity of 33.91% and a net margin of 18.00%. The firm had revenue of $20.20 billion during the quarter, compared to analysts’ expectations of $20.43 billion. During the same period in the previous year, the firm posted $1.37 EPS. Procter & Gamble’s revenue for the quarter was up .6% on a year-over-year basis. Sell-side analysts expect that The Procter & Gamble Company will post 6.55 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th were issued a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a yield of 2.39%. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.94. The ex-dividend date was Thursday, April 18th. Procter & Gamble’s payout ratio is 65.85%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PG shares. StockNews.com lowered Procter & Gamble from a “buy” rating to a “hold” rating in a report on Monday. Deutsche Bank Aktiengesellschaft dropped their price objective on Procter & Gamble from $172.00 to $171.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Jefferies Financial Group raised their target price on Procter & Gamble from $175.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Truist Financial upgraded Procter & Gamble from a “hold” rating to a “buy” rating and raised their target price for the company from $160.00 to $175.00 in a research report on Monday, March 11th. Finally, Barclays lifted their price objective on Procter & Gamble from $168.00 to $170.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 23rd. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $169.76.

Procter & Gamble Profile

The Procter & Gamble Company provides branded consumer packaged goods worldwide. It 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, and SK-II brands.