The Procter & Gamble Company (NYSE:PG) Stake Cut by Congress Asset Management Co. MA

Congress Asset Management Co. MA cut its position in shares of The Procter & Gamble Company (NYSE:PG) by 0.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 609,632 shares of the company’s stock after selling 3,048 shares during the quarter. Congress Asset Management Co. MA’s holdings in Procter & Gamble were worth $98,913,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Hummer Financial Advisory Services Inc increased its position in Procter & Gamble by 0.7% in the first quarter. Hummer Financial Advisory Services Inc now owns 12,141 shares of the company’s stock worth $1,970,000 after buying an additional 90 shares during the period. Rockland Trust Co. increased its position in Procter & Gamble by 6.6% in the first quarter. Rockland Trust Co. now owns 208,658 shares of the company’s stock worth $33,855,000 after buying an additional 12,937 shares during the period. Gulf International Bank UK Ltd increased its position in Procter & Gamble by 1.9% in the first quarter. Gulf International Bank UK Ltd now owns 209,068 shares of the company’s stock worth $33,921,000 after buying an additional 3,958 shares during the period. Meyer Handelman Co. increased its position in Procter & Gamble by 0.5% in the first quarter. Meyer Handelman Co. now owns 565,266 shares of the company’s stock worth $91,714,000 after buying an additional 2,604 shares during the period. Finally, First Affirmative Financial Network increased its position in Procter & Gamble by 2.2% in the first quarter. First Affirmative Financial Network now owns 6,034 shares of the company’s stock worth $979,000 after buying an additional 129 shares during the period. 65.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PG shares. Argus raised their price target on Procter & Gamble from $180.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Truist Financial raised Procter & Gamble from a “hold” rating to a “buy” rating and raised their price target for the company from $160.00 to $175.00 in a report on Monday, March 11th. StockNews.com lowered Procter & Gamble from a “buy” rating to a “hold” rating in a report on Monday, June 17th. Jefferies Financial Group lifted their target price on Procter & Gamble from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Procter & Gamble from $172.00 to $171.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Procter & Gamble presently has an average rating of “Moderate Buy” and an average target price of $169.76.

Insider Activity at Procter & Gamble

In related news, insider Balaji Purushothaman sold 28,369 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $161.49, for a total value of $4,581,309.81. Following the sale, the insider now owns 11,507 shares of the company’s stock, valued at approximately $1,858,265.43. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Procter & Gamble news, insider Balaji Purushothaman sold 28,369 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $161.49, for a total value of $4,581,309.81. Following the transaction, the insider now owns 11,507 shares of the company’s stock, valued at $1,858,265.43. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO R. Alexandra Keith sold 855 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $158.50, for a total value of $135,517.50. Following the completion of the transaction, the chief executive officer now directly owns 4,004 shares in the company, valued at approximately $634,634. The disclosure for this sale can be found here. Insiders have sold a total of 154,544 shares of company stock valued at $25,413,051 in the last 90 days. 0.17% of the stock is owned by corporate insiders.

Procter & Gamble Stock Performance

Shares of PG stock traded up $0.59 during trading on Friday, reaching $168.26. The company had a trading volume of 14,682,061 shares, compared to its average volume of 5,021,979. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.69 and a quick ratio of 0.48. The firm’s 50 day simple moving average is $164.59 and its two-hundred day simple moving average is $158.09. The company has a market capitalization of $397.12 billion, a PE ratio of 27.49, a PEG ratio of 3.40 and a beta of 0.42. The Procter & Gamble Company has a one year low of $141.45 and a one year high of $168.97.

Procter & Gamble (NYSE:PG) last issued its quarterly earnings results on Friday, April 19th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.42 by $0.10. The company had revenue of $20.20 billion for the quarter, compared to the consensus estimate of $20.43 billion. Procter & Gamble had a return on equity of 33.91% and a net margin of 18.00%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the business posted $1.37 EPS. Sell-side analysts forecast that The Procter & Gamble Company will post 6.55 earnings per share for the current year.

Procter & Gamble Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Friday, April 19th were paid a $1.0065 dividend. This is a positive change from Procter & Gamble’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Thursday, April 18th. This represents a $4.03 annualized dividend and a yield of 2.39%. Procter & Gamble’s payout ratio is currently 65.85%.

Procter & Gamble Profile

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.