First Financial Bankshares Inc Lowers Holdings in The Procter & Gamble Company (NYSE:PG)

First Financial Bankshares Inc trimmed its position in shares of The Procter & Gamble Company (NYSE:PG) by 6.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,578 shares of the company’s stock after selling 254 shares during the period. First Financial Bankshares Inc’s holdings in Procter & Gamble were worth $600,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Swedbank AB raised its stake in shares of Procter & Gamble by 3.9% in the third quarter. Swedbank AB now owns 1,503,647 shares of the company’s stock worth $260,432,000 after purchasing an additional 56,583 shares during the last quarter. Howard Capital Management Group LLC increased its holdings in Procter & Gamble by 1.0% in the 3rd quarter. Howard Capital Management Group LLC now owns 8,327 shares of the company’s stock worth $1,442,000 after buying an additional 82 shares in the last quarter. Principal Financial Group Inc. raised its position in Procter & Gamble by 14.7% in the 3rd quarter. Principal Financial Group Inc. now owns 4,734,588 shares of the company’s stock worth $820,031,000 after buying an additional 608,168 shares during the last quarter. United Bank lifted its stake in Procter & Gamble by 1.7% during the 3rd quarter. United Bank now owns 13,367 shares of the company’s stock valued at $2,315,000 after acquiring an additional 219 shares during the period. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of Procter & Gamble by 23.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 314,900 shares of the company’s stock valued at $54,541,000 after acquiring an additional 59,886 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors.

Procter & Gamble Stock Performance

Shares of NYSE PG opened at $167.66 on Wednesday. The stock has a market cap of $393.14 billion, a PE ratio of 26.70, a price-to-earnings-growth ratio of 3.76 and a beta of 0.41. The Procter & Gamble Company has a 1 year low of $153.52 and a 1 year high of $180.43. The firm has a fifty day moving average price of $167.58 and a 200-day moving average price of $169.78. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.76 and a quick ratio of 0.55.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Wednesday, January 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.02. Procter & Gamble had a return on equity of 33.00% and a net margin of 18.35%. The business had revenue of $21.88 billion during the quarter, compared to analyst estimates of $21.66 billion. During the same quarter in the prior year, the business posted $1.84 EPS. Procter & Gamble’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts anticipate that The Procter & Gamble Company will post 6.91 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, January 24th were issued a $1.0065 dividend. The ex-dividend date of this dividend was Friday, January 24th. This represents a $4.03 dividend on an annualized basis and a yield of 2.40%. Procter & Gamble’s dividend payout ratio is presently 64.01%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PG. Royal Bank of Canada reissued a “sector perform” rating and set a $164.00 price objective on shares of Procter & Gamble in a report on Thursday, January 23rd. Piper Sandler decreased their target price on shares of Procter & Gamble from $173.00 to $172.00 and set a “neutral” rating for the company in a research note on Monday, February 24th. Barclays increased their price target on Procter & Gamble from $155.00 to $159.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. DA Davidson reaffirmed a “buy” rating and issued a $209.00 price objective on shares of Procter & Gamble in a report on Thursday, January 23rd. Finally, Erste Group Bank raised Procter & Gamble from a “hold” rating to a “strong-buy” rating in a report on Monday. Seven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $181.47.

Insiders Place Their Bets

In related news, insider Marc S. Pritchard sold 90,450 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $163.84, for a total value of $14,819,328.00. Following the sale, the insider now directly owns 172,814 shares in the company, valued at approximately $28,313,845.76. The trade was a 34.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gary A. Coombe sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $173.68, for a total value of $6,078,800.00. Following the transaction, the chief executive officer now owns 22,051 shares of the company’s stock, valued at $3,829,817.68. This represents a 61.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 143,450 shares of company stock worth $23,988,008 in the last three months. 0.18% of the stock is owned by company insiders.

Procter & Gamble 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.