1ST Source Bank Has $9.68 Million Stock Holdings in The Procter & Gamble Company (NYSE:PG)

1ST Source Bank lifted its position in shares of The Procter & Gamble Company (NYSE:PG) by 10.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 55,872 shares of the company’s stock after buying an additional 5,255 shares during the quarter. Procter & Gamble comprises 0.5% of 1ST Source Bank’s holdings, making the stock its 27th biggest position. 1ST Source Bank’s holdings in Procter & Gamble were worth $9,677,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PG. Acorn Creek Capital LLC grew its holdings in Procter & Gamble by 2.8% during the 3rd quarter. Acorn Creek Capital LLC now owns 2,170 shares of the company’s stock valued at $376,000 after buying an additional 59 shares in the last quarter. Patrick M Sweeney & Associates Inc. boosted its position in shares of Procter & Gamble by 1.1% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 5,561 shares of the company’s stock valued at $963,000 after acquiring an additional 59 shares during the last quarter. Hudson Value Partners LLC grew its holdings in shares of Procter & Gamble by 4.1% in the second quarter. Hudson Value Partners LLC now owns 1,516 shares of the company’s stock valued at $250,000 after purchasing an additional 60 shares in the last quarter. Traveka Wealth LLC raised its stake in Procter & Gamble by 1.7% during the third quarter. Traveka Wealth LLC now owns 3,554 shares of the company’s stock valued at $616,000 after purchasing an additional 60 shares in the last quarter. Finally, Allen Mooney & Barnes Investment Advisors LLC grew its stake in shares of Procter & Gamble by 0.7% in the 3rd quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 8,699 shares of the company’s stock worth $1,507,000 after buying an additional 61 shares in the last quarter. 65.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Evercore ISI lifted their price target on Procter & Gamble from $180.00 to $183.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Royal Bank of Canada reissued a “sector perform” rating and set a $164.00 target price on shares of Procter & Gamble in a research report on Monday, October 21st. Piper Sandler initiated coverage on Procter & Gamble in a research report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price target for the company. Barclays cut shares of Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price objective on the stock. in a research report on Monday, September 30th. Finally, DZ Bank raised shares of Procter & Gamble from a “hold” rating to a “buy” rating and set a $190.00 price target for the company in a research note on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Procter & Gamble currently has a consensus rating of “Moderate Buy” and an average target price of $180.45.

Insiders Place Their Bets

In other news, CEO Jon R. Moeller sold 7,007 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $171.65, for a total value of $1,202,751.55. Following the completion of the transaction, the chief executive officer now directly owns 269,172 shares in the company, valued at $46,203,373.80. This trade represents a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Balaji Purushothaman sold 12,800 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $168.99, for a total transaction of $2,163,072.00. Following the completion of the transaction, the insider now owns 11,566 shares in the company, valued at approximately $1,954,538.34. This trade represents a 52.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 83,080 shares of company stock valued at $14,629,038. 0.18% of the stock is currently owned by corporate insiders.

Procter & Gamble Stock Down 0.0 %

Shares of PG traded down $0.02 during trading hours on Friday, hitting $170.83. The company had a trading volume of 753,064 shares, compared to its average volume of 6,673,486. The company’s fifty day moving average price is $170.69 and its two-hundred day moving average price is $169.51. The Procter & Gamble Company has a one year low of $142.50 and a one year high of $180.43. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $402.31 billion, a PE ratio of 29.46, a price-to-earnings-growth ratio of 3.69 and a beta of 0.44.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings data on Friday, October 18th. The company reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.03. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The firm had revenue of $21.74 billion for the quarter, compared to the consensus estimate of $21.99 billion. During the same quarter in the previous year, the firm earned $1.83 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. As a group, equities analysts forecast that The Procter & Gamble Company will post 6.94 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were paid a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date was Friday, October 18th. Procter & Gamble’s dividend payout ratio (DPR) is presently 69.48%.

Procter & Gamble Company Profile

The Procter & Gamble Company engages in the provision of branded consumer packaged goods worldwide. The company 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, SK-II, and Native brands.