1ST Source Bank Purchases 5,255 Shares of The Procter & Gamble Company (NYSE:PG)

1ST Source Bank raised its position in The Procter & Gamble Company (NYSE:PG - Free Report) by 10.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,872 shares of the company's stock after acquiring an additional 5,255 shares during the quarter. Procter & Gamble makes up 0.5% of 1ST Source Bank's investment portfolio, making the stock its 27th largest position. 1ST Source Bank's holdings in Procter & Gamble were worth $9,677,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new position in shares of Procter & Gamble in the 2nd quarter valued at approximately $28,000. Fairway Wealth LLC purchased a new position in Procter & Gamble during the 2nd quarter valued at about $29,000. RPg Family Wealth Advisory LLC bought a new stake in Procter & Gamble during the third quarter worth about $33,000. POM Investment Strategies LLC purchased a new stake in Procter & Gamble in the second quarter worth about $34,000. Finally, Quest Partners LLC bought a new position in shares of Procter & Gamble during the second quarter valued at approximately $36,000. Institutional investors own 65.77% of the company's stock.

Procter & Gamble Stock Performance

Shares of Procter & Gamble stock traded up $0.23 during trading hours on Friday, reaching $171.08. 3,884,004 shares of the stock traded hands, compared to its average volume of 6,686,880. The company has a 50 day moving average price of $170.69 and a 200 day moving average price of $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 quick ratio of 0.55, a current ratio of 0.75 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $402.90 billion, a price-to-earnings ratio of 29.44, a P/E/G ratio of 3.69 and a beta of 0.44.

Procter & Gamble (NYSE:PG - Get Free Report) last announced its 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 business had revenue of $21.74 billion during the quarter, compared to analysts' expectations of $21.99 billion. Procter & Gamble had a net margin of 17.07% and a return on equity of 33.25%. The firm's revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company earned $1.83 earnings per share. On average, equities research analysts expect that The Procter & Gamble Company will post 6.94 earnings per share for the current fiscal year.

Procter & Gamble Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 18th were given a $1.0065 dividend. This represents a $4.03 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date was Friday, October 18th. Procter & Gamble's payout ratio is 69.48%.

Insider Transactions at Procter & Gamble

In other news, insider Susan Street Whaley sold 634 shares of the business'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 $108,826.10. Following the transaction, the insider now directly owns 19,341 shares in the company, valued at $3,319,882.65. The trade was a 3.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jon R. Moeller sold 7,007 shares of the 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 sale, the chief executive officer now owns 269,172 shares of the company's stock, valued at $46,203,373.80. This represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 83,080 shares of company stock valued at $14,629,038 over the last quarter. 0.18% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PG. Piper Sandler initiated coverage on Procter & Gamble in a research report on Tuesday, September 24th. They set a "neutral" rating and a $174.00 price objective for the company. Evercore ISI raised their price target on Procter & Gamble from $180.00 to $183.00 and gave the company an "outperform" rating in a report on Monday, October 21st. Wolfe Research upgraded shares of Procter & Gamble to a "strong-buy" rating in a research note on Friday, August 23rd. Barclays lowered shares of Procter & Gamble from an "overweight" rating to an "equal weight" rating and set a $163.00 price objective for the company. in a research note on Monday, September 30th. Finally, Morgan Stanley upped their target price on shares of Procter & Gamble from $174.00 to $191.00 and gave the stock an "overweight" rating in a research note on Monday, October 21st. Eight analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $180.45.

Procter & Gamble 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.