The Procter & Gamble Company (NYSE:PG) Shares Sold by Independence Bank of Kentucky

Independence Bank of Kentucky reduced its holdings in The Procter & Gamble Company (NYSE:PG) by 2.2% during the 1st quarter, Holdings Channel reports. The fund owned 49,306 shares of the company’s stock after selling 1,118 shares during the quarter. Procter & Gamble comprises 1.3% of Independence Bank of Kentucky’s portfolio, making the stock its 11th largest holding. Independence Bank of Kentucky’s holdings in Procter & Gamble were worth $8,403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. NewSquare Capital LLC grew its position in Procter & Gamble by 933.3% in the fourth quarter. NewSquare Capital LLC now owns 155 shares of the company’s stock worth $26,000 after buying an additional 140 shares during the last quarter. Navigoe LLC acquired a new position in Procter & Gamble during the 4th quarter worth approximately $31,000. Capital A Wealth Management LLC acquired a new stake in Procter & Gamble in the fourth quarter valued at approximately $31,000. Hoey Investments Inc. raised its position in Procter & Gamble by 321.7% in the fourth quarter. Hoey Investments Inc. now owns 194 shares of the company’s stock worth $33,000 after acquiring an additional 148 shares during the period. Finally, LFA Lugano Financial Advisors SA purchased a new position in Procter & Gamble during the 4th quarter valued at about $34,000. Institutional investors own 65.77% of the company’s stock.

Insider Activity

In other Procter & Gamble news, insider Moses Victor Javier Aguilar sold 10,520 shares of the company’s stock in a transaction 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 directly owns 25,182 shares in the company, valued at $3,995,627.94. This represents a 29.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jennifer L. Davis sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total transaction of $161,380.00. Following the completion of the sale, the chief executive officer now owns 51,965 shares in the company, valued at approximately $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. 0.18% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PG shares. Evercore ISI reaffirmed an “outperform” rating and issued a $190.00 price objective (up previously from $170.00) on shares of Procter & Gamble in a research report on Tuesday. Raymond James lowered their price objective on shares of Procter & Gamble from $190.00 to $185.00 and set an “outperform” rating on the stock in a research note on Friday, April 25th. Barclays reaffirmed an “equal weight” rating on shares of Procter & Gamble in a research note on Thursday, March 27th. Morgan Stanley set a $180.00 target price on Procter & Gamble and gave the stock an “overweight” rating in a research report on Friday, April 25th. Finally, Redburn Partners set a $161.00 price objective on Procter & Gamble in a research note on Thursday, May 1st. Eight investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $178.86.

Procter & Gamble Trading Up 0.7%

Procter & Gamble stock opened at $164.01 on Friday. The stock has a 50-day simple moving average of $164.01 and a 200 day simple moving average of $167.27. The stock has a market capitalization of $384.53 billion, a P/E ratio of 26.12, a PEG ratio of 3.76 and a beta of 0.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.76. The Procter & Gamble Company has a 52 week low of $156.58 and a 52 week high of $180.43.

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 the consensus estimate of $1.53 by $0.01. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The firm had revenue of $19.78 billion for the quarter, compared to analysts’ expectations of $20.42 billion. During the same period in the prior year, the firm earned $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 earnings per share for the current year.

Procter & Gamble Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, April 21st were issued a dividend of $1.0568 per share. The ex-dividend date of this dividend was Monday, April 21st. This is a boost from Procter & Gamble’s previous quarterly dividend of $1.01. This represents a $4.23 annualized dividend and a dividend yield of 2.58%. Procter & Gamble’s dividend payout ratio (DPR) is currently 66.98%.

Procter & Gamble 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.