Norway Savings Bank Has $3.39 Million Stake in Procter & Gamble Company (The) (NYSE:PG)

Norway Savings Bank lessened its stake in Procter & Gamble Company (The) (NYSE:PG) by 4.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,901 shares of the company’s stock after selling 985 shares during the quarter. Procter & Gamble accounts for about 1.9% of Norway Savings Bank’s investment portfolio, making the stock its 17th biggest holding. Norway Savings Bank’s holdings in Procter & Gamble were worth $3,392,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Unique Wealth LLC increased its stake in shares of Procter & Gamble by 2.9% in the first quarter. Unique Wealth LLC now owns 2,141 shares of the company’s stock worth $365,000 after buying an additional 61 shares during the period. Stableford Capital II LLC increased its position in shares of Procter & Gamble by 1.1% in the first quarter. Stableford Capital II LLC now owns 5,817 shares of the company’s stock valued at $993,000 after acquiring an additional 61 shares during the period. Bernard Wealth Management Corp. increased its position in shares of Procter & Gamble by 20.2% in the first quarter. Bernard Wealth Management Corp. now owns 375 shares of the company’s stock valued at $64,000 after acquiring an additional 63 shares during the period. Kolinsky Wealth Management LLC increased its position in shares of 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 acquiring an additional 64 shares during the period. Finally, Retirement Planning Group LLC increased its position in shares of 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 acquiring an additional 64 shares during the period. 65.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PG has been the topic of a number of research analyst reports. Royal Bank Of Canada upgraded Procter & Gamble from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $164.00 to $177.00 in a report on Friday, April 25th. Morgan Stanley set a $180.00 target price on Procter & Gamble and gave the company an “overweight” rating in a research note on Friday, April 25th. Raymond James Financial reduced 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. Redburn Partners set a $161.00 price objective on shares of Procter & Gamble in a research report on Thursday, May 1st. Finally, Evercore ISI reissued an “outperform” rating and set a $190.00 price objective (up from $170.00) on shares of Procter & Gamble in a research report on Tuesday, June 3rd. 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $178.86.

Insider Buying and Selling at Procter & Gamble

In other news, CEO Jennifer L. Davis sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total transaction of $161,380.00. Following the sale, the chief executive officer now owns 51,965 shares of the company’s stock, valued at $8,386,111.70. This trade represents a 1.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the firm’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 completion of the sale, the insider now 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. Company insiders own 0.18% of the company’s stock.

Procter & Gamble Stock Performance

Shares of PG stock opened at $158.93 on Friday. Procter & Gamble Company has a one year low of $156.58 and a one year high of $180.43. The company’s 50-day moving average is $163.35 and its 200 day moving average is $166.13. The company has a market capitalization of $372.62 billion, a price-to-earnings ratio of 25.23, a price-to-earnings-growth ratio of 4.66 and a beta of 0.43. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.50 and a current ratio of 0.71.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.01. Procter & Gamble had a net margin of 18.46% and a return on equity of 32.67%. The firm 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 company posted $1.52 earnings per share. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. Sell-side analysts expect that Procter & Gamble Company will post 6.91 EPS for the current fiscal year.

Procter & Gamble Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were paid a dividend of $1.0568 per share. This represents a $4.23 annualized dividend and a yield of 2.66%. This is an increase from Procter & Gamble’s previous quarterly dividend of $1.01. The ex-dividend date was Monday, April 21st. Procter & Gamble’s dividend payout ratio (DPR) is currently 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.