Bar Harbor Wealth Management Has $12.38 Million Position in The Procter & Gamble Company (NYSE:PG)

Bar Harbor Wealth Management reduced its stake in shares of The Procter & Gamble Company (NYSE:PG) by 4.8% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 72,641 shares of the company’s stock after selling 3,644 shares during the quarter. Bar Harbor Wealth Management’s holdings in Procter & Gamble were worth $12,379,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Brighton Jones LLC lifted its holdings in shares of Procter & Gamble by 51.5% during the 4th quarter. Brighton Jones LLC now owns 40,068 shares of the company’s stock valued at $6,717,000 after purchasing an additional 13,617 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Procter & Gamble during the 4th quarter valued at about $50,049,000. MontVue Capital Management Inc. bought a new position in shares of Procter & Gamble during the 4th quarter valued at about $228,000. Van ECK Associates Corp lifted its holdings in shares of Procter & Gamble by 10.5% during the 4th quarter. Van ECK Associates Corp now owns 466,497 shares of the company’s stock valued at $78,208,000 after purchasing an additional 44,163 shares in the last quarter. Finally, Three Bridge Wealth Advisors LLC lifted its holdings in shares of Procter & Gamble by 18.7% during the 4th quarter. Three Bridge Wealth Advisors LLC now owns 2,624 shares of the company’s stock valued at $440,000 after purchasing an additional 413 shares in the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Procter & Gamble Trading Up 0.6%

Shares of Procter & Gamble stock opened at $163.10 on Friday. The Procter & Gamble Company has a 12-month low of $156.58 and a 12-month high of $180.43. The stock has a market cap of $382.39 billion, a P/E ratio of 25.97, a P/E/G ratio of 3.76 and a beta of 0.43. 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 business’s 50 day moving average is $163.70 and its 200-day moving average is $166.95.

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, topping analysts’ consensus estimates of $1.53 by $0.01. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The company had revenue of $19.78 billion for the quarter, compared to analysts’ expectations of $20.42 billion. During the same quarter in the prior year, the business posted $1.52 EPS. The business’s revenue was down 2.1% compared to the same quarter last year. Equities research analysts predict that The Procter & Gamble Company will post 6.91 earnings per share 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 dividend of $1.0568 per share. The ex-dividend date was Monday, April 21st. This represents a $4.23 dividend on an annualized basis and a dividend yield of 2.59%. This is a boost from Procter & Gamble’s previous quarterly dividend of $1.01. Procter & Gamble’s dividend payout ratio is currently 66.98%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PG shares. Morgan Stanley set a $180.00 price objective on Procter & Gamble and gave the company an “overweight” rating in a report on Friday, April 25th. Truist Financial cut their price objective on Procter & Gamble from $185.00 to $180.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Evercore ISI reiterated 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. Barclays reiterated an “equal weight” rating on shares of Procter & Gamble in a report on Thursday, March 27th. Finally, Raymond James cut their target price on Procter & Gamble from $190.00 to $185.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Eight research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Procter & Gamble has an average rating of “Moderate Buy” and an average price target of $178.86.

Insider Transactions at Procter & Gamble

In related news, insider Moses Victor Javier Aguilar sold 10,520 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $158.67, for a total transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jennifer L. Davis sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $161.38, for a total value of $161,380.00. Following the transaction, the chief executive officer now directly owns 51,965 shares in the company, 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. Company insiders own 0.18% of the company’s stock.

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.