The Procter & Gamble Company (NYSE:PG) Stake Lessened by Somerset Trust Co

Somerset Trust Co trimmed its stake in shares of The Procter & Gamble Company (NYSE:PG) by 0.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,392 shares of the company’s stock after selling 139 shares during the quarter. Somerset Trust Co’s holdings in Procter & Gamble were worth $3,359,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PG. Nebula Research & Development LLC lifted its position in shares of Procter & Gamble by 299.7% in the 4th quarter. Nebula Research & Development LLC now owns 6,364 shares of the company’s stock worth $933,000 after buying an additional 4,772 shares during the last quarter. First Financial Bankshares Inc bought a new position in Procter & Gamble in the fourth quarter worth about $647,000. Point72 Europe London LLP acquired a new position in Procter & Gamble in the fourth quarter valued at approximately $699,000. LM Advisors LLC bought a new position in shares of Procter & Gamble during the fourth quarter valued at approximately $479,000. Finally, Kestra Advisory Services LLC raised its position in shares of Procter & Gamble by 8.7% during the 4th quarter. Kestra Advisory Services LLC now owns 328,079 shares of the company’s stock worth $48,077,000 after purchasing an additional 26,378 shares during the period. 65.77% of the stock is owned by institutional investors and hedge funds.

Procter & Gamble Trading Up 0.7 %

Shares of NYSE:PG opened at $169.27 on Thursday. 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 stock has a market capitalization of $399.50 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 3.73 and a beta of 0.41. The Procter & Gamble Company has a 1-year low of $141.66 and a 1-year high of $177.94. The company has a 50 day moving average price of $171.39 and a 200 day moving average price of $166.65.

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

Procter & Gamble Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 18th will be paid a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Friday, October 18th. Procter & Gamble’s dividend payout ratio is 65.69%.

Insiders Place Their Bets

In other news, insider Balaji Purushothaman sold 8,842 shares of the stock in a transaction 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 sale, the insider now owns 11,537 shares in the company, valued at $1,902,451.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Balaji Purushothaman sold 8,842 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 11,537 shares in the company, valued at $1,902,451.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jon R. Moeller sold 72,174 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $171.01, for a total transaction of $12,342,475.74. Following the sale, the chief executive officer now owns 263,158 shares of the company’s stock, valued at approximately $45,002,649.58. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 383,194 shares of company stock worth $65,140,718. Corporate insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on PG. Piper Sandler assumed coverage on Procter & Gamble in a research report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 price objective for the company. Dbs Bank cut shares of Procter & Gamble from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 1st. Wolfe Research raised shares of Procter & Gamble to a “strong-buy” rating in a research note on Friday, August 23rd. TD Cowen initiated coverage on shares of Procter & Gamble in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $189.00 price target on the stock. Finally, Royal Bank of Canada increased their price objective on Procter & Gamble from $157.00 to $164.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 31st. Ten equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $175.05.

About Procter & Gamble

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company 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, SK-II, and Native brands.