The Procter & Gamble Company (NYSE:PG) Shares Sold by Horizon Bancorp Inc. IN

Horizon Bancorp Inc. IN lowered its position in shares of The Procter & Gamble Company (NYSE:PG) by 12.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 985 shares of the company’s stock after selling 144 shares during the period. Horizon Bancorp Inc. IN’s holdings in Procter & Gamble were worth $165,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of PG. Concurrent Investment Advisors LLC grew its holdings in shares of Procter & Gamble by 4.5% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 94,109 shares of the company’s stock worth $16,300,000 after acquiring an additional 4,035 shares during the last quarter. Copley Financial Group Inc. purchased a new position in Procter & Gamble in the 3rd quarter worth about $668,000. Fortem Financial Group LLC acquired a new stake in Procter & Gamble during the 4th quarter worth about $569,000. Synovus Financial Corp lifted its stake in Procter & Gamble by 3.4% during the third quarter. Synovus Financial Corp now owns 185,134 shares of the company’s stock valued at $32,065,000 after buying an additional 6,077 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Procter & Gamble by 7.5% in the fourth quarter. Nordea Investment Management AB now owns 2,898,569 shares of the company’s stock worth $484,583,000 after buying an additional 201,695 shares during the period. 65.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Balaji Purushothaman sold 12,800 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $168.99, for a total value of $2,163,072.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Gary A. Coombe sold 47,847 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $179.84, for a total transaction of $8,604,804.48. Following the transaction, the chief executive officer now directly owns 39,977 shares in the company, valued at $7,189,463.68. This trade represents a 54.48 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 75,439 shares of company stock valued at $13,317,460. 0.18% of the stock is owned by insiders.

Procter & Gamble Stock Up 0.6 %

Shares of PG stock opened at $159.82 on Wednesday. The stock’s 50 day simple moving average is $169.40 and its 200 day simple moving average is $169.52. The Procter & Gamble Company has a twelve month low of $146.28 and a twelve month high of $180.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.55 and a current ratio of 0.75. The company has a market capitalization of $376.38 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 3.70 and a beta of 0.45.

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

Procter & Gamble Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Friday, January 24th will be issued a dividend of $1.0065 per share. This represents a $4.03 dividend on an annualized basis and a yield of 2.52%. Procter & Gamble’s dividend payout ratio (DPR) is 69.31%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Morgan Stanley upped their price target on shares of Procter & Gamble from $174.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Hsbc Global Res upgraded Procter & Gamble to a “strong-buy” rating in a report on Friday, October 4th. Wells Fargo & Company reduced their price objective on Procter & Gamble from $190.00 to $176.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Evercore ISI lifted their target price on Procter & Gamble from $180.00 to $183.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Finally, Piper Sandler began coverage on shares of Procter & Gamble in a research report on Tuesday, September 24th. They issued a “neutral” rating and a $174.00 price target for the company. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $179.75.

About Procter & Gamble

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.