Penobscot Investment Management Company Inc. Buys 2,845 Shares of The Procter & Gamble Company (NYSE:PG)

Penobscot Investment Management Company Inc. raised its position in The Procter & Gamble Company (NYSE:PG) by 3.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 76,950 shares of the company’s stock after acquiring an additional 2,845 shares during the period. Procter & Gamble comprises approximately 1.3% of Penobscot Investment Management Company Inc.’s holdings, making the stock its 20th largest holding. Penobscot Investment Management Company Inc.’s holdings in Procter & Gamble were worth $11,276,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP raised its position in Procter & Gamble by 9.4% in the 3rd quarter. Wellington Management Group LLP now owns 35,608,913 shares of the company’s stock valued at $5,193,916,000 after purchasing an additional 3,047,557 shares during the last quarter. Northern Trust Corp grew its holdings in Procter & Gamble by 2.3% during the 3rd quarter. Northern Trust Corp now owns 29,313,150 shares of the company’s stock worth $4,275,616,000 after acquiring an additional 670,862 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Procter & Gamble by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 16,003,260 shares of the company’s stock worth $2,298,184,000 after acquiring an additional 131,339 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Procter & Gamble by 3.2% during the third quarter. Royal Bank of Canada now owns 11,170,305 shares of the company’s stock worth $1,629,299,000 after purchasing an additional 346,925 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in shares of Procter & Gamble by 17.1% during the fourth quarter. California Public Employees Retirement System now owns 9,492,039 shares of the company’s stock valued at $1,390,963,000 after purchasing an additional 1,387,539 shares during the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

Procter & Gamble Stock Up 0.5 %

Shares of NYSE PG traded up $0.84 during mid-day trading on Tuesday, hitting $162.50. The company had a trading volume of 2,537,419 shares, compared to its average volume of 6,872,943. The company has a current ratio of 0.69, a quick ratio of 0.48 and a debt-to-equity ratio of 0.49. The firm has a 50-day simple moving average of $159.72 and a two-hundred day simple moving average of $153.78. The company has a market capitalization of $383.52 billion, a PE ratio of 26.52, a price-to-earnings-growth ratio of 3.27 and a beta of 0.44. The Procter & Gamble Company has a one year low of $141.45 and a one year high of $164.32.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Friday, April 19th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.42 by $0.10. Procter & Gamble had a return on equity of 33.91% and a net margin of 18.00%. The firm had revenue of $20.20 billion during the quarter, compared to analysts’ expectations of $20.43 billion. During the same period in the prior year, the firm posted $1.37 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities analysts expect that The Procter & Gamble Company will post 6.55 EPS for the current year.

Procter & Gamble Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be given a dividend of $1.0065 per share. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.94. This represents a $4.03 annualized dividend and a yield of 2.48%. The ex-dividend date is Thursday, April 18th. Procter & Gamble’s dividend payout ratio is 65.85%.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, insider Balaji Purushothaman sold 28,369 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $161.49, for a total transaction of $4,581,309.81. Following the completion of the sale, the insider now owns 11,507 shares of the company’s stock, valued at approximately $1,858,265.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Procter & Gamble news, CEO Gary A. Coombe sold 22,000 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $161.32, for a total transaction of $3,549,040.00. Following the sale, the chief executive officer now directly owns 36,845 shares in the company, valued at $5,943,835.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Balaji Purushothaman sold 28,369 shares of Procter & Gamble stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $161.49, for a total value of $4,581,309.81. Following the completion of the transaction, the insider now owns 11,507 shares in the company, valued at approximately $1,858,265.43. The disclosure for this sale can be found here. Insiders sold a total of 55,865 shares of company stock worth $9,009,280 over the last quarter. 0.17% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PG shares. Jefferies Financial Group upped their price objective on Procter & Gamble from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Royal Bank of Canada boosted their price objective on Procter & Gamble from $156.00 to $157.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 24th. StockNews.com lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating in a report on Thursday, February 29th. Truist Financial upgraded Procter & Gamble from a “hold” rating to a “buy” rating and upped their price objective for the company from $160.00 to $175.00 in a report on Monday, March 11th. Finally, Stifel Nicolaus raised their target price on Procter & Gamble from $155.00 to $157.00 and gave the stock a “hold” rating in a report on Wednesday, January 24th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $169.76.

Procter & Gamble Profile

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.