The Procter & Gamble Company (NYSE:PG) Shares Bought by Patten & Patten Inc. TN

Patten & Patten Inc. TN increased its holdings in The Procter & Gamble Company (NYSE:PG) by 1.2% during the 4th quarter, HoldingsChannel reports. The fund owned 27,987 shares of the company’s stock after acquiring an additional 345 shares during the quarter. Patten & Patten Inc. TN’s holdings in Procter & Gamble were worth $4,692,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sovereign Investment Advisors LLC acquired a new position in Procter & Gamble during the 4th quarter worth $723,000. Harbour Investments Inc. lifted its position in shares of Procter & Gamble by 1.3% during the fourth quarter. Harbour Investments Inc. now owns 215,288 shares of the company’s stock worth $36,093,000 after purchasing an additional 2,820 shares during the last quarter. Gitterman Wealth Management LLC grew its stake in Procter & Gamble by 4.8% in the fourth quarter. Gitterman Wealth Management LLC now owns 2,991 shares of the company’s stock worth $501,000 after purchasing an additional 138 shares in the last quarter. Greenwich Wealth Management LLC increased its holdings in Procter & Gamble by 4.2% in the fourth quarter. Greenwich Wealth Management LLC now owns 6,713 shares of the company’s stock valued at $1,126,000 after buying an additional 270 shares during the last quarter. Finally, Ascent Capital Management LLC acquired a new stake in Procter & Gamble during the fourth quarter valued at approximately $244,000. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Procter & Gamble Stock Performance

PG stock opened at $168.20 on Friday. The company has a 50-day simple moving average of $167.27 and a 200 day simple moving average of $169.81. The company has a market capitalization of $394.39 billion, a P/E ratio of 26.78, a PEG ratio of 3.76 and a beta of 0.41. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a fifty-two week low of $153.52 and a fifty-two week high of $180.43.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings data on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.02. Procter & Gamble had a net margin of 18.35% and a return on equity of 33.00%. The business had revenue of $21.88 billion during the quarter, compared to analysts’ expectations of $21.66 billion. During the same period last year, the firm posted $1.84 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. Sell-side analysts predict that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th were paid a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Friday, January 24th. Procter & Gamble’s dividend payout ratio is presently 64.01%.

Insider Activity

In related news, CEO Gary A. Coombe sold 18,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $171.66, for a total value of $3,089,880.00. Following the sale, the chief executive officer now directly owns 22,051 shares in the company, valued at $3,785,274.66. The trade was a 44.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Marc S. Pritchard sold 90,450 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total transaction of $14,819,328.00. Following the sale, the insider now owns 172,814 shares of the company’s stock, valued at $28,313,845.76. The trade was a 34.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 143,450 shares of company stock worth $23,988,008 over the last 90 days. 0.18% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PG. Barclays boosted their price target on Procter & Gamble from $155.00 to $159.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Stifel Nicolaus increased their target price on shares of Procter & Gamble from $161.00 to $165.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. reduced their price target on shares of Procter & Gamble from $186.00 to $181.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Piper Sandler dropped their price objective on shares of Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating on the stock in a research note on Monday, February 24th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $164.00 target price on shares of Procter & Gamble in a research note on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $181.47.

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.