Inspire Trust Co. N.A. Acquires 9,500 Shares of Procter & Gamble Company (The) $PG

Inspire Trust Co. N.A. increased its stake in Procter & Gamble Company (The) (NYSE:PG – Free Report) by 28.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,500 shares of the company’s stock after acquiring an additional 9,500 shares during the quarter. Inspire Trust Co. N.A.’s holdings in Procter & Gamble were worth $6,174,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Procter & Gamble during the 2nd quarter worth approximately $27,862,105,000. Bank of America Corp DE bought a new stake in shares of Procter & Gamble in the 2nd quarter valued at $3,850,628,000. Bank of New York Mellon Corp bought a new stake in shares of Procter & Gamble in the 2nd quarter valued at $2,281,505,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Procter & Gamble during the second quarter worth $1,480,650,000. Finally, Corient Private Wealth LP acquired a new stake in shares of Procter & Gamble during the second quarter worth $335,908,000. 65.77% of the stock is currently owned by institutional investors.

Procter & Gamble Stock Performance

Shares of PG opened at $168.43 on Wednesday. The company has a market capitalization of $390.38 billion, a price-to-earnings ratio of 25.37, a PEG ratio of 4.14 and a beta of 0.36. Procter & Gamble Company has a 12 month low of $137.62 and a 12 month high of $170.52. The company has a current ratio of 0.72, a quick ratio of 0.53 and a debt-to-equity ratio of 0.40. The stock has a 50 day moving average of $152.95 and a 200 day moving average of $149.64.

Procter & Gamble (NYSE:PG – Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The company reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.11. Procter & Gamble had a net margin of 18.23% and a return on equity of 31.02%. The company had revenue of $23.28 billion during the quarter, compared to analyst estimates of $22.80 billion. During the same quarter in the prior year, the business earned $1.99 earnings per share. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, sell-side analysts forecast that Procter & Gamble Company will post 6.99 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Shareholders of record on Friday, October 23rd will be paid a $1.0885 dividend. This represents a $4.35 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, October 23rd. Procter & Gamble’s payout ratio is presently 65.51%.

Insider Activity

In other Procter & Gamble news, CFO Andre Schulten sold 33,624 shares of the company’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $165.00, for a total transaction of $5,547,960.00. Following the sale, the chief financial officer directly owned 65,618 shares of the company’s stock, valued at $10,826,970. This represents a 33.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar G. Raman sold 38,253 shares of the business’s stock in a transaction on Friday, October 30th. The shares were sold at an average price of $165.00, for a total value of $6,311,745.00. Following the sale, the chief executive officer owned 47,745 shares in the company, valued at approximately $7,877,925. The trade was a 44.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 197,756 shares of company stock worth $32,336,001. 0.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PG has been the subject of several research analyst reports. Evercore raised Procter & Gamble from an “in-line” rating to an “outperform” rating and set a $166.00 price objective for the company in a research report on Tuesday, October 6th. Citigroup raised their target price on Procter & Gamble from $180.00 to $187.00 and gave the stock a “buy” rating in a research note on Friday, October 23rd. Piper Sandler lifted their target price on Procter & Gamble from $145.00 to $167.00 and gave the stock a “neutral” rating in a report on Monday, October 26th. JPMorgan Chase & Co. upped their price objective on shares of Procter & Gamble from $162.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, October 23rd. Finally, Argus downgraded shares of Procter & Gamble from a “buy” rating to a “hold” rating in a research report on Friday, August 7th. Fifteen investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $170.57.

Read Our Latest Report on PG

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About Procter & Gamble

(Free Report)

The Procter & Gamble Company is a consumer goods company that develops, manufactures and markets products for everyday use. Founded in 1837 by William Procter and James Gamble, the company is headquartered in Cincinnati, Ohio. Its products span beauty, grooming, health care, fabric and home care, and baby, feminine and family care. Well-known brands include Tide, Pampers, Gillette, Pantene, Olay, Oral-B, Crest, Dawn, Charmin and Bounty. Procter & Gamble sells its products in markets around the world through retail stores, e-commerce platforms and other distribution channels.

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

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