Bank Pictet & Cie Europe AG Sells 359,516 Shares of Procter & Gamble Company (The) $PG

Bank Pictet & Cie Europe AG lowered its stake in Procter & Gamble Company (The) (NYSE:PGFree Report) by 81.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 81,587 shares of the company’s stock after selling 359,516 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Procter & Gamble were worth $11,692,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Halbert Hargrove Global Advisors LLC bought a new position in Procter & Gamble during the third quarter valued at approximately $25,000. Saranac Partners Ltd bought a new stake in Procter & Gamble in the 3rd quarter worth approximately $30,000. Corundum Trust Company INC purchased a new stake in shares of Procter & Gamble during the 3rd quarter worth approximately $32,000. Caitlin John LLC bought a new position in shares of Procter & Gamble during the 3rd quarter valued at approximately $34,000. Finally, Marquette Asset Management LLC bought a new position in shares of Procter & Gamble during the 3rd quarter valued at approximately $37,000. Institutional investors own 65.77% of the company’s stock.

Key Headlines Impacting Procter & Gamble

Here are the key news stories impacting Procter & Gamble this week:

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PG shares. Rothschild & Co Redburn boosted their price target on shares of Procter & Gamble from $155.00 to $157.00 and gave the stock a “neutral” rating in a research report on Friday, January 23rd. Piper Sandler began coverage on shares of Procter & Gamble in a research report on Wednesday, January 7th. They set a “neutral” rating and a $150.00 price objective for the company. BNP Paribas Exane dropped their price objective on shares of Procter & Gamble from $172.00 to $164.00 and set an “outperform” rating for the company in a research note on Friday, January 16th. Jefferies Financial Group upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and upped their target price for the company from $156.00 to $179.00 in a research report on Tuesday, December 16th. Finally, Erste Group Bank downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating in a report on Tuesday, March 24th. Twelve research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, Procter & Gamble presently has an average rating of “Moderate Buy” and a consensus target price of $167.06.

Read Our Latest Research Report on Procter & Gamble

Procter & Gamble Stock Performance

NYSE:PG opened at $144.19 on Thursday. The firm has a market capitalization of $335.10 billion, a PE ratio of 21.36, a PEG ratio of 5.08 and a beta of 0.41. The stock’s fifty day moving average is $153.85 and its 200 day moving average is $149.84. Procter & Gamble Company has a fifty-two week low of $137.62 and a fifty-two week high of $174.80. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.51 and a current ratio of 0.72.

Procter & Gamble (NYSE:PGGet Free Report) last posted its quarterly earnings data on Friday, January 23rd. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.86 by $0.02. Procter & Gamble had a net margin of 19.30% and a return on equity of 32.21%. The company had revenue of $22.21 billion during the quarter, compared to analyst estimates of $22.36 billion. During the same period in the previous year, the firm earned $1.88 earnings per share. Procter & Gamble’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Investors of record on Friday, January 23rd were issued a dividend of $1.0568 per share. This represents a $4.23 annualized dividend and a yield of 2.9%. The ex-dividend date was Friday, January 23rd. Procter & Gamble’s dividend payout ratio is presently 62.67%.

Insider Activity at Procter & Gamble

In related news, insider Balaji Purushothaman sold 12,827 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $160.31, for a total value of $2,056,296.37. Following the sale, the insider directly owned 12,639 shares of the company’s stock, valued at $2,026,158.09. This represents a 50.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Jon R. Moeller sold 162,232 shares of the firm’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $162.45, for a total transaction of $26,354,588.40. Following the completion of the sale, the chairman directly owned 319,385 shares of the company’s stock, valued at approximately $51,884,093.25. The trade was a 33.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 348,618 shares of company stock worth $55,462,643 in the last three months. 0.20% of the stock is owned by insiders.

Procter & Gamble Company Profile

(Free Report)

Procter & Gamble (NYSE: PG) is a multinational consumer goods company headquartered in Cincinnati, Ohio. Founded in 1837 by William Procter and James Gamble, P&G has grown into one of the world’s largest producers of branded consumer packaged goods. The company focuses on developing, manufacturing and marketing a broad portfolio of household and personal care products sold to consumers and retailers worldwide.

P&G’s product offering spans several core business categories, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine & Family Care.

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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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