Berkshire Bank Has $5.63 Million Stock Position in The Procter & Gamble Company (NYSE:PG)

Berkshire Bank reduced its position in The Procter & Gamble Company (NYSE:PG) by 0.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,051 shares of the company’s stock after selling 164 shares during the period. Procter & Gamble comprises about 1.4% of Berkshire Bank’s holdings, making the stock its 17th largest position. Berkshire Bank’s holdings in Procter & Gamble were worth $5,633,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Chicago Capital LLC boosted its stake in shares of Procter & Gamble by 7.8% during the 1st quarter. Chicago Capital LLC now owns 38,577 shares of the company’s stock worth $6,574,000 after acquiring an additional 2,793 shares in the last quarter. Summit Wealth Group LLC boosted its stake in Procter & Gamble by 11.2% during the 1st quarter. Summit Wealth Group LLC now owns 7,437 shares of the company’s stock valued at $1,267,000 after purchasing an additional 752 shares during the period. Consilium Wealth Advisory LLC boosted its stake in Procter & Gamble by 3.2% during the 1st quarter. Consilium Wealth Advisory LLC now owns 3,096 shares of the company’s stock valued at $528,000 after purchasing an additional 96 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI boosted its stake in Procter & Gamble by 3.5% during the 1st quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 23,829 shares of the company’s stock valued at $4,061,000 after purchasing an additional 811 shares during the period. Finally, AA Financial Advisors LLC boosted its stake in Procter & Gamble by 3.2% during the 1st quarter. AA Financial Advisors LLC now owns 7,551 shares of the company’s stock valued at $1,287,000 after purchasing an additional 234 shares during the period. 65.77% of the stock is owned by institutional investors and hedge funds.

Procter & Gamble Trading Up 0.3%

PG stock opened at $160.79 on Tuesday. The business has a fifty day moving average price of $163.81 and a 200 day moving average price of $166.51. The Procter & Gamble Company has a fifty-two week low of $156.58 and a fifty-two week high of $180.43. The stock has a market capitalization of $376.99 billion, a price-to-earnings ratio of 25.60, a P/E/G 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.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, beating 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 firm had revenue of $19.78 billion during the quarter, compared to analysts’ expectations of $20.42 billion. During the same period last year, the firm posted $1.52 EPS. The business’s revenue was down 2.1% on a year-over-year basis. Analysts expect that The Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The company also recently disclosed 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 2.63%. This is a positive change 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 (DPR) is presently 66.98%.

Analyst Upgrades and Downgrades

PG has been the subject of several recent analyst reports. Citigroup decreased their target price on Procter & Gamble from $200.00 to $181.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Bank of America decreased their target price on Procter & Gamble from $190.00 to $180.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Redburn Atlantic downgraded Procter & Gamble from a “buy” rating to a “neutral” rating and set a $161.00 target price for the company. in a research note on Thursday, May 1st. Erste Group Bank cut Procter & Gamble from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 30th. Finally, Piper Sandler upped their price target on Procter & Gamble from $160.00 to $164.00 and gave the company a “neutral” rating in a report on Monday, May 5th. Eight research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Procter & Gamble currently has an average rating of “Moderate Buy” and a consensus target price of $178.86.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, CEO Jennifer L. Davis sold 1,000 shares of the 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 directly owns 51,965 shares in the company, valued at approximately $8,386,111.70. This trade represents a 1.89% decrease in their position. The sale 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 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 owns 25,182 shares in the company, valued at $3,995,627.94. The trade was a 29.47% 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.

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.