Enterprise Bank & Trust Co Raises Stake in The Procter & Gamble Company (NYSE:PG)

Enterprise Bank & Trust Co grew its stake in The Procter & Gamble Company (NYSE:PG) by 0.7% in the first quarter, Holdings Channel reports. The fund owned 11,040 shares of the company’s stock after purchasing an additional 75 shares during the period. Enterprise Bank & Trust Co’s holdings in Procter & Gamble were worth $1,881,000 at the end of the most recent quarter.

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

Insider Transactions at Procter & Gamble

In related news, insider Moses Victor Javier Aguilar sold 10,520 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $158.67, for a total value of $1,669,208.40. Following the transaction, the insider now owns 25,182 shares of the company’s stock, valued at $3,995,627.94. This represents a 29.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jennifer L. Davis sold 1,000 shares of the firm’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total value of $161,380.00. Following the completion of the sale, the chief executive officer now owns 51,965 shares in the company, valued at approximately $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. Corporate insiders own 0.18% of the company’s stock.

Analysts Set New Price Targets

PG has been the subject of several recent analyst reports. Royal Bank of Canada raised Procter & Gamble from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $164.00 to $177.00 in a research note on Friday, April 25th. Truist Financial lowered their price target on Procter & Gamble from $185.00 to $180.00 and set a “buy” rating for the company in a report on Friday, April 25th. UBS Group reissued a “buy” rating on shares of Procter & Gamble in a research report on Monday, February 10th. Morgan Stanley set a $180.00 target price on shares of Procter & Gamble and gave the company an “overweight” rating in a research report on Friday, April 25th. Finally, Piper Sandler increased their target price on shares of Procter & Gamble from $160.00 to $164.00 and gave the stock a “neutral” rating in a research note on Monday, May 5th. Eight research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $178.52.

Procter & Gamble Price Performance

Procter & Gamble stock opened at $169.92 on Monday. The company’s 50 day moving average is $164.35 and its two-hundred day moving average is $167.40. The firm has a market cap of $398.38 billion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a 52-week low of $156.58 and a 52-week high of $180.43.

Procter & Gamble (NYSE:PG) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.01. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The business had revenue of $19.78 billion for the quarter, compared to analysts’ expectations of $20.42 billion. During the same period last year, the firm earned $1.52 earnings per share. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. On average, research analysts expect that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, April 21st were paid a $1.0568 dividend. This represents a $4.23 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend was Monday, April 21st. This is a boost from Procter & Gamble’s previous quarterly dividend of $1.01. Procter & Gamble’s dividend payout ratio (DPR) is presently 66.98%.

About Procter & Gamble

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.