Congress Asset Management Co. MA Buys 2,658 Shares of The Procter & Gamble Company (NYSE:PG)

Congress Asset Management Co. MA lifted its stake in shares of The Procter & Gamble Company (NYSE:PGFree Report) by 0.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 612,680 shares of the company’s stock after purchasing an additional 2,658 shares during the quarter. Congress Asset Management Co. MA’s holdings in Procter & Gamble were worth $89,782,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Demars Financial Group LLC grew its stake in shares of Procter & Gamble by 4.4% during the fourth quarter. Demars Financial Group LLC now owns 1,497 shares of the company’s stock valued at $219,000 after buying an additional 63 shares during the last quarter. Emerald Advisors LLC grew its stake in shares of Procter & Gamble by 1.8% during the fourth quarter. Emerald Advisors LLC now owns 3,775 shares of the company’s stock valued at $553,000 after buying an additional 65 shares during the last quarter. O Brien Wealth Partners LLC grew its stake in shares of Procter & Gamble by 3.3% during the fourth quarter. O Brien Wealth Partners LLC now owns 2,062 shares of the company’s stock valued at $302,000 after buying an additional 65 shares during the last quarter. Mechanics Financial Corp grew its stake in shares of Procter & Gamble by 0.4% during the fourth quarter. Mechanics Financial Corp now owns 16,184 shares of the company’s stock valued at $2,372,000 after buying an additional 65 shares during the last quarter. Finally, LWM Advisory Services LLC grew its stake in shares of Procter & Gamble by 2.1% during the fourth quarter. LWM Advisory Services LLC now owns 3,143 shares of the company’s stock valued at $461,000 after buying an additional 66 shares during the last quarter. 65.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PG shares. StockNews.com raised Procter & Gamble from a “hold” rating to a “buy” rating in a research note on Friday, May 31st. Argus increased their price objective on Procter & Gamble from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Jefferies Financial Group increased their price objective on Procter & Gamble from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. The Goldman Sachs Group started coverage on Procter & Gamble in a research note on Friday, March 1st. They issued a “neutral” rating and a $168.00 price objective on the stock. Finally, Truist Financial raised Procter & Gamble from a “hold” rating to a “buy” rating and increased their price objective for the stock from $160.00 to $175.00 in a research note on Monday, March 11th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Procter & Gamble presently has an average rating of “Moderate Buy” and a consensus target price of $169.76.

View Our Latest Research Report on Procter & Gamble

Procter & Gamble Stock Performance

PG traded up $0.38 during midday trading on Friday, hitting $166.79. 3,694,974 shares of the company were exchanged, compared to its average volume of 4,965,412. The company’s 50 day simple moving average is $163.40 and its 200 day simple moving average is $157.54. The firm has a market capitalization of $393.65 billion, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 3.39 and a beta of 0.42. The company has a current ratio of 0.69, a quick ratio of 0.48 and a debt-to-equity ratio of 0.49. The Procter & Gamble Company has a 1-year low of $141.45 and a 1-year high of $168.97.

Procter & Gamble (NYSE:PGGet Free Report) last announced its quarterly earnings results on Friday, April 19th. The company reported $1.52 earnings per share 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 firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm earned $1.37 EPS. As a group, sell-side analysts predict that The Procter & Gamble Company will post 6.55 earnings per share for the current year.

Procter & Gamble Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Friday, April 19th were issued a $1.0065 dividend. This represents a $4.03 annualized dividend and a yield of 2.41%. This is a boost from Procter & Gamble’s previous quarterly dividend of $0.94. The ex-dividend date was Thursday, April 18th. Procter & Gamble’s payout ratio is presently 65.85%.

Insider Buying and Selling

In related news, CEO Sundar G. Raman sold 31,924 shares of Procter & Gamble stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $166.95, for a total value of $5,329,711.80. Following the sale, the chief executive officer now directly owns 19,042 shares in the company, valued at approximately $3,179,061.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Procter & Gamble news, CEO R. Alexandra Keith sold 855 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $158.50, for a total value of $135,517.50. Following the transaction, the chief executive officer now directly owns 4,004 shares of the company’s stock, valued at approximately $634,634. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar G. Raman sold 31,924 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $166.95, for a total transaction of $5,329,711.80. Following the completion of the transaction, the chief executive officer now directly owns 19,042 shares in the company, valued at $3,179,061.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 154,544 shares of company stock worth $25,413,051. Insiders own 0.17% of the company’s stock.

Procter & Gamble Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Procter & Gamble (NYSE:PG)

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