Mechanics Bank Trust Department Boosts Holdings in The Procter & Gamble Company (NYSE:PG)

Mechanics Bank Trust Department grew its holdings in shares of The Procter & Gamble Company (NYSE:PGGet Rating) by 1.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 58,653 shares of the company’s stock after acquiring an additional 853 shares during the quarter. Procter & Gamble accounts for approximately 1.5% of Mechanics Bank Trust Department’s holdings, making the stock its 15th biggest holding. Mechanics Bank Trust Department’s holdings in Procter & Gamble were worth $8,434,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PG. Summit Global Investments raised its stake in shares of Procter & Gamble by 24.4% during the fourth quarter. Summit Global Investments now owns 16,500 shares of the company’s stock worth $2,699,000 after acquiring an additional 3,232 shares in the last quarter. HBK Investments L P bought a new position in shares of Procter & Gamble in the fourth quarter worth approximately $813,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of Procter & Gamble in the fourth quarter worth approximately $426,000. Banco de Sabadell S.A grew its holdings in shares of Procter & Gamble by 60.9% in the fourth quarter. Banco de Sabadell S.A now owns 20,365 shares of the company’s stock worth $3,324,000 after purchasing an additional 7,712 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in shares of Procter & Gamble by 2.8% in the fourth quarter. LPL Financial LLC now owns 1,771,606 shares of the company’s stock worth $289,799,000 after purchasing an additional 48,248 shares during the last quarter. 63.45% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Procter & Gamble

In other news, insider Mary Theresa Grabowski sold 10,397 shares of Procter & Gamble stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $146.00, for a total value of $1,517,962.00. Following the completion of the transaction, the insider now owns 4,353 shares of the company’s stock, valued at approximately $635,538. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Procter & Gamble news, CFO Andre Schulten sold 987 shares of the business’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $149.33, for a total value of $147,388.71. Following the completion of the transaction, the chief financial officer now owns 27,330 shares of the company’s stock, valued at approximately $4,081,188.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mary Theresa Grabowski sold 10,397 shares of the business’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $146.00, for a total value of $1,517,962.00. Following the completion of the transaction, the insider now directly owns 4,353 shares of the company’s stock, valued at approximately $635,538. The disclosure for this sale can be found here. Insiders sold a total of 289,321 shares of company stock valued at $42,559,426 in the last quarter. 0.26% of the stock is owned by insiders.

Procter & Gamble Stock Performance

Shares of Procter & Gamble stock opened at $136.21 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.45 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $324.93 billion, a P/E ratio of 23.44, a P/E/G ratio of 3.49 and a beta of 0.35. The business has a fifty day simple moving average of $142.58 and a two-hundred day simple moving average of $147.19. The Procter & Gamble Company has a 12 month low of $129.50 and a 12 month high of $165.35.

Procter & Gamble (NYSE:PGGet Rating) last posted its quarterly earnings results on Friday, July 29th. The company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.02). The company had revenue of $19.52 billion during the quarter, compared to analysts’ expectations of $19.41 billion. Procter & Gamble had a return on equity of 32.67% and a net margin of 18.39%. Procter & Gamble’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.13 EPS. On average, equities analysts forecast that The Procter & Gamble Company will post 5.94 earnings per share for the current fiscal year.

Procter & Gamble Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 15th. Stockholders of record on Friday, July 22nd were given a $0.913 dividend. This represents a $3.65 annualized dividend and a dividend yield of 2.68%. The ex-dividend date was Thursday, July 21st. Procter & Gamble’s dividend payout ratio is presently 62.82%.

Analyst Ratings Changes

PG has been the topic of several recent analyst reports. Evercore ISI set a $170.00 target price on shares of Procter & Gamble in a report on Monday, June 20th. Barclays cut their target price on shares of Procter & Gamble from $157.00 to $154.00 and set an “overweight” rating on the stock in a report on Tuesday, August 2nd. Truist Financial cut their price target on shares of Procter & Gamble from $175.00 to $160.00 and set a “buy” rating on the stock in a report on Monday, August 1st. Wells Fargo & Company cut their price target on shares of Procter & Gamble from $170.00 to $160.00 in a report on Friday, July 22nd. Finally, JPMorgan Chase & Co. cut their price target on shares of Procter & Gamble from $165.00 to $156.00 in a report on Thursday, July 21st. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Procter & Gamble has a consensus rating of “Moderate Buy” and a consensus target price of $162.93.

About Procter & Gamble

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The Procter & Gamble Company provides branded consumer packaged goods worldwide. It operates through five segments: Beauty; Grooming; Health Care; Fabric & Home Care; and Baby, Feminine & Family Care. The Beauty segment offers conditioners, shampoos, styling aids, and treatments under the Head & Shoulders, Herbal Essences, Pantene, and Rejoice brands; and antiperspirants and deodorants, personal cleansing, and skin care products under the Olay, Old Spice, Safeguard, Secret, and SK-II brands.

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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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