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

Horizon Bancorp Inc. IN cut its stake in The Procter & Gamble Company (NYSE:PG) by 12.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund 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 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Itau Unibanco Holding S.A. purchased a new position in shares of Procter & Gamble in the 2nd quarter worth about $28,000. Fairway Wealth LLC purchased a new position in Procter & Gamble in the second quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC acquired a new position in Procter & Gamble during the third quarter valued at approximately $33,000. Quest Partners LLC purchased a new stake in Procter & Gamble during the second quarter worth approximately $36,000. Finally, Costello Asset Management INC increased its position in shares of Procter & Gamble by 2,142.9% in the third quarter. Costello Asset Management INC now owns 314 shares of the company’s stock worth $54,000 after acquiring an additional 300 shares in the last quarter. 65.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Procter & Gamble

In other news, CEO Gary A. Coombe sold 47,847 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $179.84, for a total value of $8,604,804.48. Following the completion of the transaction, the chief executive officer now owns 39,977 shares of the company’s stock, valued at approximately $7,189,463.68. This represents a 54.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Balaji Purushothaman sold 12,800 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $172.73, for a total value of $2,210,944.00. Following the transaction, the insider now directly owns 11,595 shares in the company, valued at $2,002,804.35. This trade represents a 52.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,439 shares of company stock valued at $13,317,460 in the last ninety days. Company insiders own 0.18% of the company’s stock.

Procter & Gamble Stock Performance

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 12-month low of $146.28 and a 12-month high of $180.43. The firm has a market cap of $376.38 billion, a P/E ratio of 27.56, a P/E/G ratio of 3.70 and a beta of 0.45. The company has a current ratio of 0.75, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50.

Procter & Gamble (NYSE:PG) last issued its earnings results on Friday, October 18th. The company reported $1.93 earnings per share 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 company had revenue of $21.74 billion for the quarter, compared to analysts’ expectations of $21.99 billion. During the same period in the prior year, the company earned $1.83 earnings per share. The firm’s revenue was down .6% compared to the same quarter last year. As a group, equities research analysts predict that The Procter & Gamble Company will post 6.94 EPS for the current year.

Procter & Gamble Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently weighed in on PG shares. Piper Sandler assumed coverage on shares of Procter & Gamble in a report on Tuesday, September 24th. They set a “neutral” rating and a $174.00 target price on the stock. Wells Fargo & Company reduced their price objective on Procter & Gamble from $190.00 to $176.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Hsbc Global Res upgraded Procter & Gamble to a “strong-buy” rating in a research note on Friday, October 4th. Barclays lowered Procter & Gamble from an “overweight” rating to an “equal weight” rating and set a $163.00 price target on the stock. in a research report on Monday, September 30th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $209.00 price objective on shares of Procter & Gamble in a research report on Friday, December 27th. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $179.75.

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.