Parsons Capital Management Inc. RI Sells 158 Shares of The Procter & Gamble Company (NYSE:PG)

Parsons Capital Management Inc. RI trimmed its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 0.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 97,188 shares of the company’s stock after selling 158 shares during the quarter. Procter & Gamble makes up about 0.9% of Parsons Capital Management Inc. RI’s investment portfolio, making the stock its 22nd largest holding. Parsons Capital Management Inc. RI’s holdings in Procter & Gamble were worth $16,563,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PG. Norges Bank bought a new stake in Procter & Gamble during the fourth quarter valued at approximately $5,244,463,000. GAMMA Investing LLC lifted its holdings in Procter & Gamble by 20,758.5% during the first 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 in the last quarter. Raymond James Financial Inc. purchased a new position in Procter & Gamble during the fourth quarter valued at approximately $1,010,685,000. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Procter & Gamble by 1,195.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,222,585 shares of the company’s stock valued at $580,596,000 after purchasing an additional 2,973,757 shares in the last quarter. Finally, Capital Research Global Investors lifted its holdings 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 valued at $1,240,294,000 after purchasing an additional 2,846,560 shares in the last quarter. 65.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PG. Bank of America lowered their target price on shares of Procter & Gamble from $190.00 to $180.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Piper Sandler boosted their target price on shares of Procter & Gamble from $160.00 to $164.00 and gave the stock a “neutral” rating in a report on Monday, May 5th. JPMorgan Chase & Co. lowered their target price on shares of Procter & Gamble from $181.00 to $172.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Raymond James lowered their target price on shares of Procter & Gamble from $190.00 to $185.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Finally, Royal Bank of Canada raised shares of Procter & Gamble from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $164.00 to $177.00 in a report on Friday, April 25th. Eight analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Procter & Gamble has an average rating of “Moderate Buy” and an average price target of $178.86.

Procter & Gamble Trading Down 0.9%

NYSE PG opened at $162.55 on Tuesday. The company’s 50-day moving average price is $163.86 and its 200-day moving average price is $167.11. The company has a current ratio of 0.76, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The stock has a market cap of $381.10 billion, a PE ratio of 25.88, a PEG ratio of 3.76 and a beta of 0.43. The Procter & Gamble Company has a 12 month low of $156.58 and a 12 month 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 for the quarter, topping analysts’ consensus estimates of $1.53 by $0.01. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The company had revenue of $19.78 billion during the quarter, compared to analyst estimates of $20.42 billion. During the same period in the prior year, the firm earned $1.52 earnings per share. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. Equities research analysts forecast that The Procter & Gamble Company will post 6.91 earnings per share for the current year.

Procter & Gamble Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were given a dividend of $1.0568 per share. This represents a $4.23 annualized dividend and a dividend yield of 2.60%. This is a positive change from Procter & Gamble’s previous quarterly dividend of $1.01. The ex-dividend date was Monday, April 21st. Procter & Gamble’s dividend payout ratio is presently 66.98%.

Insider Buying and Selling at Procter & Gamble

In related news, insider Moses Victor Javier Aguilar sold 10,520 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 25,182 shares of the company’s stock, valued at $3,995,627.94. This trade represents a 29.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jennifer L. Davis sold 1,000 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were 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 of the company’s stock, valued at $8,386,111.70. The trade was a 1.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Procter & Gamble 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.