CCG Wealth Management LLC lessened its stake in The Procter & Gamble Company (NYSE:PG – Get Rating) by 12.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,151 shares of the company’s stock after selling 2,246 shares during the period. Procter & Gamble makes up about 1.5% of CCG Wealth Management LLC’s holdings, making the stock its 14th biggest holding. CCG Wealth Management LLC’s holdings in Procter & Gamble were worth $2,253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Procter & Gamble by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 224,570,227 shares of the company’s stock worth $28,351,991,000 after buying an additional 2,197,165 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Procter & Gamble by 1.1% in the 3rd quarter. BlackRock Inc. now owns 161,904,833 shares of the company’s stock worth $20,440,487,000 after acquiring an additional 1,811,085 shares during the last quarter. State Street Corp lifted its holdings in shares of Procter & Gamble by 0.8% in the 3rd quarter. State Street Corp now owns 104,749,256 shares of the company’s stock worth $13,224,594,000 after acquiring an additional 797,652 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Procter & Gamble by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 46,243,572 shares of the company’s stock worth $6,997,559,000 after acquiring an additional 323,292 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Procter & Gamble by 12.6% in the 4th quarter. Morgan Stanley now owns 44,320,700 shares of the company’s stock worth $6,717,246,000 after acquiring an additional 4,959,527 shares during the last quarter. Hedge funds and other institutional investors own 64.65% of the company’s stock.
Procter & Gamble Stock Down 1.0 %
NYSE:PG opened at $148.46 on Friday. The firm’s 50-day moving average price is $150.63 and its 200-day moving average price is $147.42. The company has a market capitalization of $349.90 billion, a PE ratio of 25.86, a P/E/G ratio of 4.16 and a beta of 0.41. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.59 and a quick ratio of 0.39. The Procter & Gamble Company has a 1-year low of $122.18 and a 1-year high of $158.11.
Procter & Gamble Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Friday, April 21st were given a $0.9407 dividend. The ex-dividend date of this dividend was Thursday, April 20th. This is an increase from Procter & Gamble’s previous quarterly dividend of $0.91. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.53%. Procter & Gamble’s dividend payout ratio is currently 65.51%.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on PG shares. JPMorgan Chase & Co. upgraded shares of Procter & Gamble from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $150.00 to $155.00 in a report on Friday, March 3rd. StockNews.com assumed coverage on shares of Procter & Gamble in a report on Thursday, May 18th. They issued a “buy” rating for the company. Morgan Stanley upped their price target on shares of Procter & Gamble from $160.00 to $174.00 and gave the company an “overweight” rating in a report on Monday, April 24th. Truist Financial lowered shares of Procter & Gamble from a “buy” rating to a “hold” rating and lowered their price target for the company from $165.00 to $155.00 in a report on Thursday, May 18th. Finally, Barclays upped their price target on shares of Procter & Gamble from $160.00 to $167.00 in a report on Wednesday, April 26th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $161.50.
Insider Activity at Procter & Gamble
In related news, insider Susan Street Whaley sold 4,852 shares of the stock in a transaction dated Wednesday, April 26th. The shares were sold at an average price of $155.47, for a total transaction of $754,340.44. Following the sale, the insider now directly owns 7,977 shares of the company’s stock, valued at approximately $1,240,184.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Susan Street Whaley sold 4,852 shares of the stock in a transaction dated Wednesday, April 26th. The shares were sold at an average price of $155.47, for a total transaction of $754,340.44. Following the sale, the insider now directly owns 7,977 shares of the company’s stock, valued at approximately $1,240,184.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andre Schulten sold 25,244 shares of the stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $155.27, for a total transaction of $3,919,635.88. Following the sale, the chief financial officer now directly owns 27,118 shares in the company, valued at $4,210,611.86. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,093 shares of company stock valued at $14,821,930. 0.26% of the stock is owned by insiders.
About Procter & Gamble
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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