FineMark National Bank & Trust Sells 1,111 Shares of The Procter & Gamble Company (NYSE:PG)

FineMark National Bank & Trust trimmed its holdings in shares of The Procter & Gamble Company (NYSE:PG) by 0.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 165,038 shares of the company’s stock after selling 1,111 shares during the period. Procter & Gamble makes up about 1.0% of FineMark National Bank & Trust’s holdings, making the stock its 19th largest holding. FineMark National Bank & Trust’s holdings in Procter & Gamble were worth $27,669,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Howard Capital Management Group LLC raised its position in Procter & Gamble by 1.0% during the third quarter. Howard Capital Management Group LLC now owns 8,327 shares of the company’s stock worth $1,442,000 after acquiring an additional 82 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Procter & Gamble by 14.7% in the 3rd quarter. Principal Financial Group Inc. now owns 4,734,588 shares of the company’s stock valued at $820,031,000 after purchasing an additional 608,168 shares during the period. United Bank lifted its stake in Procter & Gamble by 1.7% in the 3rd quarter. United Bank now owns 13,367 shares of the company’s stock valued at $2,315,000 after purchasing an additional 219 shares during the last quarter. Algert Global LLC bought a new position in Procter & Gamble during the third quarter worth about $824,000. Finally, Larson Financial Group LLC increased its position in Procter & Gamble by 14.8% during the third quarter. Larson Financial Group LLC now owns 15,016 shares of the company’s stock worth $2,601,000 after buying an additional 1,934 shares during the last quarter. Institutional investors and hedge funds own 65.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PG shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $164.00 price objective on shares of Procter & Gamble in a research report on Thursday, January 23rd. Wells Fargo & Company lifted their price objective on shares of Procter & Gamble from $176.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, January 23rd. Barclays upped their price objective on shares of 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 raised their target price on shares of Procter & Gamble from $161.00 to $165.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. Finally, Piper Sandler decreased their price target 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. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.47.

Insider Buying and Selling

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

Procter & Gamble Stock Down 0.6 %

PG stock opened at $165.73 on Tuesday. The Procter & Gamble Company has a 52 week low of $153.52 and a 52 week high of $180.43. The business has a 50-day simple moving average of $168.11 and a 200 day simple moving average of $169.58. 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 company has a market cap of $388.61 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41.

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

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, January 24th were issued a dividend of $1.0065 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a dividend yield of 2.43%. Procter & Gamble’s dividend payout ratio (DPR) is currently 64.01%.

Procter & Gamble Company 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.