Sky Investment Group LLC Has $11.66 Million Stock Holdings in The Procter & Gamble Company (NYSE:PG)

Sky Investment Group LLC raised its position in shares of The Procter & Gamble Company (NYSE:PG) by 2.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 68,444 shares of the company’s stock after purchasing an additional 1,395 shares during the period. Procter & Gamble comprises 2.2% of Sky Investment Group LLC’s portfolio, making the stock its 9th biggest position. Sky Investment Group LLC’s holdings in Procter & Gamble were worth $11,664,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Lakeridge Wealth Management LLC increased its position in shares of Procter & Gamble by 0.6% during the fourth quarter. Lakeridge Wealth Management LLC now owns 10,807 shares of the company’s stock worth $1,812,000 after acquiring an additional 60 shares during the last quarter. Unique Wealth LLC increased its holdings in Procter & Gamble by 2.9% in the first quarter. Unique Wealth LLC now owns 2,141 shares of the company’s stock valued at $365,000 after buying an additional 61 shares during the last quarter. Kolinsky Wealth Management LLC increased its holdings in Procter & Gamble by 1.1% in the fourth quarter. Kolinsky Wealth Management LLC now owns 5,738 shares of the company’s stock valued at $962,000 after buying an additional 64 shares during the last quarter. Retirement Planning Group LLC increased its holdings in Procter & Gamble by 1.4% in the fourth quarter. Retirement Planning Group LLC now owns 4,704 shares of the company’s stock valued at $789,000 after buying an additional 64 shares during the last quarter. Finally, First Citizens Financial Corp increased its holdings in Procter & Gamble by 1.8% in the first quarter. First Citizens Financial Corp now owns 3,664 shares of the company’s stock valued at $624,000 after buying an additional 64 shares during the last quarter. 65.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on PG. JPMorgan Chase & Co. lowered their price objective on Procter & Gamble from $181.00 to $172.00 and set an “overweight” rating for the company in a report on Friday, April 11th. Redburn Atlantic lowered Procter & Gamble from a “buy” rating to a “neutral” rating and set a $161.00 price objective for the company. in a report on Thursday, May 1st. Royal Bank of Canada raised Procter & Gamble from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $164.00 to $177.00 in a report on Friday, April 25th. Redburn Partners set a $161.00 price objective on Procter & Gamble in a report on Thursday, May 1st. Finally, Truist Financial lowered their target price on Procter & Gamble from $185.00 to $180.00 and set a “buy” rating for the company in a report on Friday, April 25th. Eight investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Procter & Gamble has a consensus rating of “Moderate Buy” and an average price target of $178.86.

Insiders Place Their Bets

In other Procter & Gamble news, CEO Jennifer L. Davis sold 1,000 shares of the company’s stock in a transaction 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 owns 51,965 shares of the company’s stock, valued at approximately $8,386,111.70. This represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the company’s 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 completion of the transaction, the insider now directly owns 25,182 shares in the company, valued at $3,995,627.94. This represents a 29.47% decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.

Procter & Gamble Stock Performance

PG opened at $163.10 on Friday. The company has a market capitalization of $382.39 billion, a price-to-earnings ratio of 25.97, a price-to-earnings-growth ratio of 3.76 and a beta of 0.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55. The Procter & Gamble Company has a 1-year low of $156.58 and a 1-year high of $180.43. The business has a 50 day moving average price of $163.70 and a two-hundred day moving average price of $166.95.

Procter & Gamble (NYSE:PG) last released its earnings results 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. The firm had revenue of $19.78 billion during the quarter, compared to the consensus estimate of $20.42 billion. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.52 earnings per share. Research analysts predict that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were given a $1.0568 dividend. This represents a $4.23 dividend on an annualized basis and a yield of 2.59%. This is an increase from Procter & Gamble’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend was Monday, April 21st. Procter & Gamble’s dividend payout ratio is 66.98%.

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.