Grimes & Company Inc. Has $5.17 Million Holdings in The Procter & Gamble Company (NYSE:PG)

Grimes & Company Inc. cut its stake in shares of The Procter & Gamble Company (NYSE:PG) by 1.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,840 shares of the company’s stock after selling 390 shares during the period. Grimes & Company Inc.’s holdings in Procter & Gamble were worth $5,166,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PG. Advantage Trust Co acquired a new stake in shares of Procter & Gamble in the fourth quarter valued at approximately $28,000. Wyrmwood Management LLC bought a new position in Procter & Gamble in the fourth quarter valued at approximately $29,000. Naples Money Management LLC bought a new position in Procter & Gamble in the fourth quarter valued at approximately $29,000. Transcendent Capital Group LLC bought a new position in Procter & Gamble in the fourth quarter valued at approximately $31,000. Finally, Criterion Capital Advisors LLC bought a new position in Procter & Gamble in the fourth quarter valued at approximately $33,000. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PG has been the topic of several research reports. Truist Financial upgraded shares of 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. Barclays upped their price objective on shares of Procter & Gamble from $168.00 to $170.00 and gave the company an “overweight” rating in a report on Tuesday, April 23rd. The Goldman Sachs Group initiated coverage on shares of Procter & Gamble in a report on Friday, March 1st. They set a “neutral” rating and a $168.00 price objective on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Procter & Gamble from $172.00 to $171.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Finally, Jefferies Financial Group upped their price objective on shares of Procter & Gamble from $175.00 to $182.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Procter & Gamble currently has an average rating of “Moderate Buy” and a consensus price target of $170.72.

Insider Activity

In other news, CEO Sundar G. Raman sold 31,924 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $166.95, for a total transaction of $5,329,711.80. Following the sale, the chief executive officer now owns 19,042 shares in the company, valued at approximately $3,179,061.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Sundar G. Raman sold 31,924 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $166.95, for a total transaction of $5,329,711.80. Following the transaction, the chief executive officer now owns 19,042 shares of the company’s stock, valued at approximately $3,179,061.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO R. Alexandra Keith sold 855 shares of the stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $158.50, for a total transaction of $135,517.50. Following the transaction, the chief executive officer now directly owns 4,004 shares in the company, valued at approximately $634,634. The disclosure for this sale can be found here. In the last quarter, insiders have sold 154,544 shares of company stock worth $25,413,051. 0.17% of the stock is currently owned by corporate insiders.

Procter & Gamble Stock Performance

Shares of PG stock traded down $1.70 during trading on Friday, reaching $164.92. 9,253,317 shares of the company’s stock traded hands, compared to its average volume of 6,088,934. The company has a market capitalization of $389.23 billion, a P/E ratio of 26.95, a PEG ratio of 3.38 and a beta of 0.42. 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’s 50-day moving average is $165.60 and its 200 day moving average is $158.81. The Procter & Gamble Company has a 1 year low of $141.45 and a 1 year high of $169.41.

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

Procter & Gamble Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Friday, April 19th were given a dividend of $1.0065 per share. The ex-dividend date was Thursday, April 18th. This represents a $4.03 annualized dividend and a dividend yield of 2.44%. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.94. Procter & Gamble’s dividend payout ratio (DPR) is 65.85%.

Procter & Gamble Company 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.