Evercore Wealth Management LLC Sells 5,468 Shares of Procter & Gamble Company (The) $PG

Evercore Wealth Management LLC trimmed its position in Procter & Gamble Company (The) (NYSE:PG) by 8.1% in the first quarter, Holdings Channel.com reports. The firm owned 61,731 shares of the company’s stock after selling 5,468 shares during the period. Evercore Wealth Management LLC’s holdings in Procter & Gamble were worth $8,916,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in PG. Carson Advisory Inc. grew its position in shares of Procter & Gamble by 0.5% during the 4th quarter. Carson Advisory Inc. now owns 12,124 shares of the company’s stock worth $1,738,000 after buying an additional 65 shares during the period. Trilogy Capital Inc. lifted its holdings in Procter & Gamble by 1.1% in the fourth quarter. Trilogy Capital Inc. now owns 6,289 shares of the company’s stock valued at $901,000 after buying an additional 67 shares during the period. Cary Street Partners Investment Advisory LLC lifted its holdings in Procter & Gamble by 1.8% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 3,829 shares of the company’s stock valued at $549,000 after buying an additional 67 shares during the period. Lorne Steinberg Wealth Management Inc. boosted its stake in Procter & Gamble by 2.7% in the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 2,623 shares of the company’s stock valued at $376,000 after acquiring an additional 68 shares during the last quarter. Finally, Grant Street Asset Management Inc. grew its holdings in Procter & Gamble by 2.7% during the 4th quarter. Grant Street Asset Management Inc. now owns 2,627 shares of the company’s stock worth $376,000 after acquiring an additional 69 shares during the period. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Procter & Gamble Trading Up 0.8%

PG opened at $148.66 on Tuesday. The firm’s fifty day moving average is $147.46 and its two-hundred day moving average is $148.82. The firm has a market cap of $346.17 billion, a PE ratio of 21.73, a price-to-earnings-growth ratio of 7.33 and a beta of 0.39. Procter & Gamble Company has a twelve month low of $137.62 and a twelve month high of $167.25. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.53 and a current ratio of 0.73.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings results on Friday, April 24th. The company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.03. Procter & Gamble had a net margin of 19.16% and a return on equity of 32.00%. The company had revenue of $21.23 billion during the quarter, compared to analyst estimates of $21.52 billion. During the same quarter in the previous year, the business earned $1.54 EPS. The firm’s revenue was up 7.4% on a year-over-year basis. Equities research analysts anticipate that Procter & Gamble Company will post 6.88 EPS for the current year.

Procter & Gamble Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Friday, July 24th will be issued a dividend of $1.0885 per share. The ex-dividend date is Friday, July 24th. This represents a $4.35 annualized dividend and a yield of 2.9%. Procter & Gamble’s payout ratio is currently 63.60%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PG. Evercore set a $162.00 price target on Procter & Gamble in a research note on Monday, April 27th. Piper Sandler lifted their price objective on Procter & Gamble from $142.00 to $145.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. BMO Capital Markets upped their price objective on Procter & Gamble from $169.00 to $170.00 and gave the company an “outperform” rating in a report on Monday, June 29th. JPMorgan Chase & Co. cut their target price on Procter & Gamble from $164.00 to $162.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. Finally, Bank of America reduced their target price on Procter & Gamble from $170.00 to $166.00 and set a “buy” rating on the stock in a report on Friday, July 10th. Twelve investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $161.74.

Procter & Gamble Profile

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.