Sumitomo Mitsui Trust Holdings Inc. Sells 6,047 Shares of The Procter & Gamble Company (NYSE:PG)

Sumitomo Mitsui Trust Holdings Inc. cut its holdings in The Procter & Gamble Company (NYSE:PG) by 0.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,087,841 shares of the company’s stock after selling 6,047 shares during the period. Procter & Gamble accounts for 0.7% of Sumitomo Mitsui Trust Holdings Inc.’s portfolio, making the stock its 19th largest holding. Sumitomo Mitsui Trust Holdings Inc. owned 0.26% of Procter & Gamble worth $987,752,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in shares of Procter & Gamble by 9.4% during the 3rd quarter. Wellington Management Group LLP now owns 35,608,913 shares of the company’s stock valued at $5,193,916,000 after purchasing an additional 3,047,557 shares during the period. Norges Bank bought a new stake in shares of Procter & Gamble during the 4th quarter valued at $3,956,117,000. Charles Schwab Investment Management Inc. raised its position in shares of Procter & Gamble by 1.3% during the 4th 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 period. Royal Bank of Canada raised its position in shares of Procter & Gamble by 3.2% during the 3rd quarter. Royal Bank of Canada now owns 11,170,305 shares of the company’s stock valued at $1,629,299,000 after purchasing an additional 346,925 shares during the period. Finally, Fisher Asset Management LLC raised its position in shares of Procter & Gamble by 5.6% during the 4th 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 period. 65.77% of the stock is currently owned by institutional investors.

Procter & Gamble Trading Down 0.0 %

Shares of PG stock traded down $0.02 during trading hours on Wednesday, reaching $163.88. 437,480 shares of the stock were exchanged, compared to its average volume of 6,547,750. The Procter & Gamble Company has a 12-month low of $141.45 and a 12-month high of $169.41. The company has a current ratio of 0.69, a quick ratio of 0.48 and a debt-to-equity ratio of 0.49. The company’s 50-day moving average price is $165.65 and its 200-day moving average price is $159.01. The firm has a market capitalization of $386.78 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 3.35 and a beta of 0.41.

Procter & Gamble (NYSE:PG) last released its quarterly earnings results on Friday, April 19th. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.10. Procter & Gamble had a net margin of 18.00% and a return on equity of 33.91%. The firm had revenue of $20.20 billion during the quarter, compared to analysts’ expectations of $20.43 billion. During the same period in the previous year, the company earned $1.37 EPS. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, equities analysts anticipate that The Procter & Gamble Company will post 6.55 earnings per share for the current year.

Procter & Gamble Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th were given a $1.0065 dividend. This represents a $4.03 annualized dividend and a yield of 2.46%. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.94. The ex-dividend date was Thursday, April 18th. Procter & Gamble’s payout ratio is 65.85%.

Analysts Set New Price Targets

Several analysts have recently commented on PG shares. Barclays raised their price objective on shares of Procter & Gamble from $168.00 to $170.00 and gave the company an “overweight” rating in a research report on Tuesday, April 23rd. BNP Paribas started coverage on shares of Procter & Gamble in a report on Monday, June 24th. They issued an “outperform” rating and a $187.00 price target on the stock. Truist Financial upgraded shares of Procter & Gamble from a “hold” rating to a “buy” rating and lifted their price target for the company from $160.00 to $175.00 in a report on Monday, March 11th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Procter & Gamble from $172.00 to $171.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Finally, Jefferies Financial Group lifted their price target on shares of Procter & Gamble from $175.00 to $182.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Procter & Gamble currently has an average rating of “Moderate Buy” and an average target price of $170.72.

Insider Buying and Selling at Procter & Gamble

In other Procter & Gamble news, CEO Sundar G. Raman sold 31,924 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $166.95, for a total value of $5,329,711.80. Following the completion of the sale, the chief executive officer now directly owns 19,042 shares of the company’s stock, valued at approximately $3,179,061.90. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO R. Alexandra Keith sold 855 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $158.50, for a total value of $135,517.50. Following the completion of the sale, the chief executive officer now owns 4,004 shares in the company, valued at approximately $634,634. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar G. Raman sold 31,924 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $166.95, for a total transaction of $5,329,711.80. Following the completion of the sale, the chief executive officer now owns 19,042 shares of the company’s stock, valued at approximately $3,179,061.90. The disclosure for this sale can be found here. Insiders sold a total of 154,544 shares of company stock valued at $25,413,051 in the last three months. Company insiders own 0.17% of the company’s stock.

About Procter & Gamble

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.