Chevy Chase Trust Holdings LLC Sells 10,978 Shares of Procter & Gamble Company (The) (NYSE:PG)

Chevy Chase Trust Holdings LLC cut its holdings in Procter & Gamble Company (The) (NYSE:PG) by 0.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,277,853 shares of the company’s stock after selling 10,978 shares during the period. Procter & Gamble comprises 0.7% of Chevy Chase Trust Holdings LLC’s holdings, making the stock its 20th largest holding. Chevy Chase Trust Holdings LLC’s holdings in Procter & Gamble were worth $217,772,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Norges Bank purchased a new stake in Procter & Gamble during the fourth quarter valued at approximately $5,244,463,000. GAMMA Investing LLC increased its position in shares of Procter & Gamble by 20,758.5% during the 1st quarter. GAMMA Investing LLC now owns 7,951,456 shares of the company’s stock valued at $1,355,087,000 after purchasing an additional 7,913,335 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Procter & Gamble during the 4th quarter valued at $1,010,685,000. Bank Julius Baer & Co. Ltd Zurich lifted its position in Procter & Gamble by 1,195.1% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company’s stock worth $580,596,000 after buying an additional 2,973,757 shares during the last quarter. Finally, Capital Research Global Investors boosted its stake in Procter & Gamble by 62.5% during the fourth quarter. Capital Research Global Investors now owns 7,398,120 shares of the company’s stock worth $1,240,294,000 after buying an additional 2,846,560 shares during the period. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Procter & Gamble news, insider Moses Victor Javier Aguilar sold 10,520 shares of Procter & Gamble stock in a transaction on Monday, May 5th. The shares were sold at an average price of $158.67, for a total value of $1,669,208.40. Following the transaction, the insider now directly owns 25,182 shares of the company’s stock, valued at approximately $3,995,627.94. The trade was a 29.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jennifer L. Davis sold 1,000 shares of Procter & Gamble stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total transaction of $161,380.00. Following the completion of the transaction, the chief executive officer now directly owns 51,965 shares in the company, valued at $8,386,111.70. This represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by company insiders.

Procter & Gamble Stock Down 0.4%

Shares of Procter & Gamble stock opened at $160.41 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.71 and a quick ratio of 0.50. The stock has a market cap of $376.08 billion, a price-to-earnings ratio of 25.46, a PEG ratio of 4.75 and a beta of 0.43. The firm’s 50-day moving average is $163.03 and its two-hundred day moving average is $165.87. Procter & Gamble Company has a 1 year low of $156.58 and a 1 year high of $180.43.

Procter & Gamble (NYSE:PG) last released its quarterly earnings data on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.01. The firm had revenue of $19.78 billion for the quarter, compared to the consensus estimate of $20.42 billion. Procter & Gamble had a net margin of 18.46% and a return on equity of 32.67%. The company’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the firm earned $1.52 earnings per share. As a group, research analysts expect that Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, April 21st were issued a $1.0568 dividend. The ex-dividend date of this dividend was Monday, April 21st. This is an increase from Procter & Gamble’s previous quarterly dividend of $1.01. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.64%. Procter & Gamble’s dividend payout ratio (DPR) is currently 67.14%.

Analyst Upgrades and Downgrades

PG has been the topic of several recent analyst reports. Citigroup reduced their target price on shares of Procter & Gamble from $200.00 to $181.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Truist Financial decreased their price objective on shares of Procter & Gamble from $185.00 to $180.00 and set a “buy” rating for the company in a research note on Friday, April 25th. JPMorgan Chase & Co. dropped their target price on Procter & Gamble from $181.00 to $172.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. Piper Sandler increased their price target on Procter & Gamble from $160.00 to $164.00 and gave the stock a “neutral” rating in a report on Monday, May 5th. Finally, Evercore ISI restated an “outperform” rating and set a $190.00 price objective (up previously from $170.00) on shares of Procter & Gamble in a report on Tuesday, June 3rd. Eight investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.45.

Procter & Gamble Company Profile

Procter & Gamble Co engages in the provision of branded consumer packaged goods. It operates through the following segments: Beauty, Grooming, Health Care, Fabric and Home Care, and Baby, Feminine and Family Care. The Beauty segment offers hair, skin, and personal care. The Grooming segment consists of shave care like female and male blades and razors, pre and post shave products, and appliances.