Rockland Trust Co. Has $32.84 Million Stock Holdings in The Procter & Gamble Company (NYSE:PG)

Rockland Trust Co. cut its stake in The Procter & Gamble Company (NYSE:PG) by 5.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,594 shares of the company’s stock after selling 10,257 shares during the period. Procter & Gamble makes up about 1.6% of Rockland Trust Co.’s portfolio, making the stock its 19th biggest holding. Rockland Trust Co.’s holdings in Procter & Gamble were worth $32,838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PG. Exencial Wealth Advisors LLC raised its holdings in shares of Procter & Gamble by 13.1% during the 4th quarter. Exencial Wealth Advisors LLC now owns 16,250 shares of the company’s stock worth $2,381,000 after buying an additional 1,882 shares in the last quarter. Morningstar Investment Services LLC grew its position in Procter & Gamble by 97.6% during the 4th quarter. Morningstar Investment Services LLC now owns 327,302 shares of the company’s stock worth $47,698,000 after acquiring an additional 161,667 shares during the last quarter. CenterBook Partners LP grew its position in Procter & Gamble by 48.0% during the 4th quarter. CenterBook Partners LP now owns 16,382 shares of the company’s stock worth $2,401,000 after acquiring an additional 5,311 shares during the last quarter. NCM Capital Management LLC grew its position in Procter & Gamble by 11.9% during the 4th quarter. NCM Capital Management LLC now owns 4,864 shares of the company’s stock worth $713,000 after acquiring an additional 516 shares during the last quarter. Finally, Delaney Dennis R grew its position in Procter & Gamble by 2.1% during the 4th quarter. Delaney Dennis R now owns 44,362 shares of the company’s stock worth $6,501,000 after acquiring an additional 896 shares during the last quarter. 65.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PG shares. Royal Bank of Canada boosted their price objective on Procter & Gamble from $157.00 to $164.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 31st. Wolfe Research upgraded Procter & Gamble to a “strong-buy” rating in a research report on Friday, August 23rd. Piper Sandler began coverage on Procter & Gamble in a research report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price target on the stock. Evercore ISI upped their price target on Procter & Gamble from $177.00 to $183.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Finally, BNP Paribas began coverage on Procter & Gamble in a research report on Monday, June 24th. They issued an “outperform” rating and a $187.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.89.

Insider Activity

In other news, insider Balaji Purushothaman sold 8,842 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $164.90, for a total value of $1,458,045.80. Following the completion of the transaction, the insider now directly owns 11,537 shares of the company’s stock, valued at $1,902,451.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO R. Alexandra Keith sold 3,373 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $170.00, for a total transaction of $573,410.00. Following the transaction, the chief executive officer now owns 21,513 shares of the company’s stock, valued at approximately $3,657,210. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Balaji Purushothaman sold 8,842 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 11,537 shares in the company, valued at $1,902,451.30. The disclosure for this sale can be found here. Insiders sold a total of 383,194 shares of company stock worth $65,140,718 over the last quarter. Insiders own 0.17% of the company’s stock.

Procter & Gamble Stock Down 1.1 %

PG stock opened at $170.06 on Friday. The stock’s 50 day simple moving average is $171.15 and its 200 day simple moving average is $166.43. The Procter & Gamble Company has a fifty-two week low of $141.45 and a fifty-two week high of $177.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.53 and a current ratio of 0.73. The company has a market cap of $401.37 billion, a P/E ratio of 27.79, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $20.69 billion. During the same period in the prior year, the business earned $1.37 EPS. The firm’s revenue for the quarter was down .1% on a year-over-year basis. On average, research analysts expect that The Procter & Gamble Company will post 6.97 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Friday, July 19th were issued a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date was Friday, July 19th. Procter & Gamble’s dividend payout ratio is 65.85%.

About Procter & Gamble

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.