Mechanics Bank Trust Department Buys 853 Shares of The Procter & Gamble Company (NYSE:PG)

Mechanics Bank Trust Department lifted its stake in shares of The Procter & Gamble Company (NYSE:PGGet Rating) by 1.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 58,653 shares of the company’s stock after acquiring an additional 853 shares during the quarter. Procter & Gamble makes up approximately 1.5% of Mechanics Bank Trust Department’s holdings, making the stock its 15th biggest position. Mechanics Bank Trust Department’s holdings in Procter & Gamble were worth $8,434,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PG. Lansing Street Advisors bought a new position in Procter & Gamble in the 1st quarter worth approximately $37,000. Western Pacific Wealth Management LP bought a new position in Procter & Gamble in the 4th quarter worth approximately $40,000. Dravo Bay LLC bought a new position in Procter & Gamble in the 1st quarter worth approximately $40,000. Retirement Group LLC boosted its stake in Procter & Gamble by 48.2% in the 1st quarter. Retirement Group LLC now owns 283 shares of the company’s stock worth $43,000 after purchasing an additional 92 shares during the period. Finally, IAG Wealth Partners LLC boosted its stake in Procter & Gamble by 31.0% in the 1st quarter. IAG Wealth Partners LLC now owns 317 shares of the company’s stock worth $48,000 after purchasing an additional 75 shares during the period. 63.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Procter & Gamble

In other news, CEO Ma. Fatima Francisco sold 2,000 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $145.00, for a total transaction of $290,000.00. Following the transaction, the chief executive officer now owns 5,026 shares of the company’s stock, valued at approximately $728,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Ma. Fatima Francisco sold 2,000 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $145.00, for a total transaction of $290,000.00. Following the transaction, the chief executive officer now owns 5,026 shares of the company’s stock, valued at approximately $728,770. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar G. Raman sold 1,599 shares of the stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $145.12, for a total value of $232,046.88. Following the transaction, the chief executive officer now directly owns 4,002 shares in the company, valued at approximately $580,770.24. The disclosure for this sale can be found here. Insiders have sold 289,321 shares of company stock valued at $42,559,426 in the last quarter. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PG. Barclays decreased their price objective on Procter & Gamble from $157.00 to $154.00 and set an “overweight” rating on the stock in a report on Tuesday, August 2nd. Truist Financial decreased their price objective on Procter & Gamble from $175.00 to $160.00 and set a “buy” rating on the stock in a report on Monday, August 1st. Wells Fargo & Company decreased their price objective on Procter & Gamble from $170.00 to $160.00 in a report on Friday, July 22nd. JPMorgan Chase & Co. decreased their price objective on Procter & Gamble from $165.00 to $156.00 in a report on Thursday, July 21st. Finally, UBS Group decreased their price objective on Procter & Gamble to $153.00 in a report on Friday, July 22nd. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $162.93.

Procter & Gamble Stock Performance

Shares of Procter & Gamble stock opened at $136.21 on Friday. The stock’s fifty day moving average is $142.58 and its two-hundred day moving average is $147.19. The company has a market capitalization of $324.93 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 3.49 and a beta of 0.35. The company has a quick ratio of 0.45, a current ratio of 0.65 and a debt-to-equity ratio of 0.50. The Procter & Gamble Company has a 52 week low of $129.50 and a 52 week high of $165.35.

Procter & Gamble (NYSE:PGGet Rating) last announced its quarterly earnings data on Friday, July 29th. The company reported $1.21 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.02). The business had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $19.41 billion. Procter & Gamble had a net margin of 18.39% and a return on equity of 32.67%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same period last year, the company earned $1.13 EPS. As a group, analysts expect that The Procter & Gamble Company will post 5.94 earnings per share for the current year.

Procter & Gamble Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Shareholders of record on Friday, July 22nd were given a $0.913 dividend. This represents a $3.65 annualized dividend and a yield of 2.68%. The ex-dividend date was Thursday, July 21st. Procter & Gamble’s dividend payout ratio (DPR) is presently 62.82%.

About Procter & Gamble

(Get Rating)

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.

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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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