The Procter & Gamble Company (NYSE:PG) Shares Sold by Blodgett Wealth Advisors LLC

Blodgett Wealth Advisors LLC reduced its position in shares of The Procter & Gamble Company (NYSE:PG) by 10.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,680 shares of the company’s stock after selling 800 shares during the period. Procter & Gamble makes up approximately 1.0% of Blodgett Wealth Advisors LLC’s portfolio, making the stock its 19th largest position. Blodgett Wealth Advisors LLC’s holdings in Procter & Gamble were worth $1,138,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Procter & Gamble by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 229,794,073 shares of the company’s stock worth $38,524,976,000 after acquiring an additional 1,592,061 shares in the last quarter. Geode Capital Management LLC boosted its position in Procter & Gamble by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 56,472,195 shares of the company’s stock worth $9,457,000,000 after purchasing an additional 1,267,419 shares in the last quarter. Norges Bank acquired a new stake in Procter & Gamble in the fourth quarter valued at $5,244,463,000. Northern Trust Corp grew its holdings in Procter & Gamble by 10.1% in the fourth quarter. Northern Trust Corp now owns 29,395,208 shares of the company’s stock valued at $4,928,107,000 after purchasing an additional 2,703,757 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Procter & Gamble by 6.4% in the fourth quarter. Franklin Resources Inc. now owns 20,197,996 shares of the company’s stock valued at $3,386,194,000 after buying an additional 1,209,275 shares in the last quarter. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Insider Transactions at Procter & Gamble

In other Procter & Gamble news, CEO Jennifer L. Davis sold 1,000 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $161.38, for a total value of $161,380.00. Following the completion of the sale, the chief executive officer now owns 51,965 shares of the company’s stock, valued at $8,386,111.70. This trade represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Moses Victor Javier Aguilar sold 10,520 shares of the business’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 transaction, the insider now directly owns 25,182 shares in the company, valued at approximately $3,995,627.94. The trade was a 29.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

PG has been the topic of several recent research reports. Morgan Stanley set a $180.00 price objective on shares of Procter & Gamble and gave the stock an “overweight” rating in a research report on Friday, April 25th. Evercore ISI reaffirmed an “outperform” rating and issued a $190.00 price target (up previously from $170.00) on shares of Procter & Gamble in a report on Tuesday, June 3rd. Barclays reissued an “equal weight” rating on shares of Procter & Gamble in a research note on Thursday, March 27th. Royal Bank of Canada upgraded Procter & Gamble from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $164.00 to $177.00 in a research report on Friday, April 25th. Finally, Piper Sandler increased their target price on Procter & Gamble from $160.00 to $164.00 and gave the company a “neutral” rating in a report on Monday, May 5th. Eight research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $178.86.

Procter & Gamble Stock Performance

NYSE:PG opened at $160.06 on Friday. The company has a market cap of $375.27 billion, a P/E ratio of 25.49, a P/E/G ratio of 3.76 and a beta of 0.43. The firm’s 50 day moving average is $163.75 and its two-hundred day moving average is $166.73. The Procter & Gamble Company has a fifty-two week low of $156.58 and a fifty-two week high of $180.43. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last issued its earnings results on Thursday, April 24th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.01. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The business had revenue of $19.78 billion for the quarter, compared to analyst estimates of $20.42 billion. During the same period last year, the company posted $1.52 EPS. The business’s quarterly revenue was down 2.1% on a year-over-year basis. Analysts expect that The Procter & Gamble Company will post 6.91 EPS for the current year.

Procter & Gamble Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Monday, April 21st were paid a dividend of $1.0568 per share. This is an increase from Procter & Gamble’s previous quarterly dividend of $1.01. This represents a $4.23 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend was Monday, April 21st. Procter & Gamble’s payout ratio 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.