The Procter & Gamble Company (NYSE:PG) Stock Position Raised by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp lifted its holdings in The Procter & Gamble Company (NYSE:PG) by 126.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,114 shares of the company’s stock after buying an additional 35,841 shares during the period. Atlantic Union Bankshares Corp’s holdings in Procter & Gamble were worth $10,574,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Norges Bank acquired a new stake in shares of Procter & Gamble in the fourth quarter worth $3,956,117,000. Charles Schwab Investment Management Inc. boosted its position in Procter & Gamble by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 16,209,425 shares of the company’s stock valued at $2,336,552,000 after purchasing an additional 206,165 shares during the last quarter. Fisher Asset Management LLC boosted its position in Procter & Gamble by 5.6% during the fourth quarter. Fisher Asset Management LLC now owns 10,556,988 shares of the company’s stock valued at $1,547,021,000 after purchasing an additional 559,358 shares during the last quarter. Franklin Resources Inc. boosted its position in Procter & Gamble by 2.6% during the fourth quarter. Franklin Resources Inc. now owns 9,571,693 shares of the company’s stock valued at $1,402,636,000 after purchasing an additional 246,323 shares during the last quarter. Finally, Sanders Capital LLC boosted its position in Procter & Gamble by 3.3% during the fourth quarter. Sanders Capital LLC now owns 6,987,508 shares of the company’s stock valued at $1,023,949,000 after purchasing an additional 223,798 shares during the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

Insider Transactions at Procter & Gamble

In other news, insider Balaji Purushothaman sold 8,842 shares of Procter & Gamble stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the transaction, the insider now owns 11,537 shares in the company, valued at $1,902,451.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Balaji Purushothaman sold 8,842 shares of Procter & Gamble stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $164.90, for a total transaction of $1,458,045.80. Following the completion of the transaction, the insider now owns 11,537 shares of the company’s stock, valued at $1,902,451.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ma. Fatima Francisco sold 96,000 shares of Procter & Gamble stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $170.00, for a total transaction of $16,320,000.00. Following the transaction, the chief executive officer now directly owns 13,721 shares of the company’s stock, valued at approximately $2,332,570. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 223,259 shares of company stock worth $37,948,393. Company insiders own 0.17% of the company’s stock.

Procter & Gamble Stock Performance

Procter & Gamble stock traded down $0.98 during trading hours on Friday, hitting $169.17. The company had a trading volume of 4,771,267 shares, compared to its average volume of 6,597,829. The Procter & Gamble Company has a one year low of $141.45 and a one year high of $171.89. The firm has a 50-day moving average of $167.29 and a 200 day moving average of $163.62. The firm has a market cap of $399.26 billion, a PE ratio of 27.64, a PEG ratio of 3.64 and a beta of 0.41. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.73 and a quick ratio of 0.53.

Procter & Gamble (NYSE:PG) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.03. The business had revenue of $20.53 billion for the quarter, compared to analyst estimates of $20.69 billion. Procter & Gamble had a net margin of 17.71% and a return on equity of 33.46%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the business posted $1.37 EPS. On average, sell-side analysts expect that The Procter & Gamble Company will post 6.97 earnings per share for the current year.

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Friday, July 19th were issued a dividend of $1.0065 per share. The ex-dividend date was Friday, July 19th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.38%. Procter & Gamble’s dividend payout ratio (DPR) is presently 65.69%.

Analysts Set New Price Targets

Several research firms have weighed in on PG. Citigroup raised their target price on Procter & Gamble from $177.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Stifel Nicolaus lifted their price objective on Procter & Gamble from $157.00 to $161.00 and gave the stock a “hold” rating in a research note on Monday, July 22nd. BNP Paribas started coverage on Procter & Gamble in a research note on Monday, June 24th. They issued an “outperform” rating and a $187.00 price objective on the stock. Evercore ISI boosted their price target on Procter & Gamble from $177.00 to $183.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Finally, Jefferies Financial Group lowered Procter & Gamble from a “buy” rating to a “hold” rating and lowered their price target for the company from $182.00 to $175.00 in a research note on Wednesday, July 24th. Nine investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $173.95.

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.